Iran's Life Insurance Penetration Low

The share of life insurance in the overall portfolio of the Iranian insurance industry is meager which has reduced the overall penetration rate of insurance cover in the country of 80 million people.
According to IBENA, the penetration rate of non-life insurance is close to the average rate in the world. Iran’s insurance penetration ratio now is 35th in the world. 
Insurance penetration rate, which is measured as the ratio of premiums underwritten in a particular year to the GDP, in Iran stands at 2.3% which is 0.2% higher than in Central Asia and the Middle East insurance market.