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Iran Insurance Sector to Grow 15% in 5 Years

According to a Fitch report on the fourth quarter of 2018, high inflation and low household incomes have constrained the development of the life insurance segment
Insurance Sector to Grow 15% in 5 Years Insurance Sector to Grow 15% in 5 Years

Fitch, the global ratings agency has predicted that Iran's insurance sector will record an average of 15% growth a year in the next five years, as the partial easing of sanctions against the market in early 2016 helped it grow.
According to a Fitch report on the fourth quarter of 2018, high inflation and low household incomes have constrained the development of the life insurance segment, while the lack of access of insurers to foreign capital and expertise were an impediment to substantial growth of the non-life segment. 
Nonetheless, the sector is expected to grow rapidly in the coming years. The agency, however, has not discussed the possible ramifications of the US pullout from the nuclear deal in May on the insurance sector of Iran. 

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