Economy, Business And Markets

Insurance Claims Rise

Insurance  Claims RiseInsurance  Claims Rise

Iranian insurance companies paid 57.7 trillion rials($ 1.9 billion at the official exchange rate) in claims settlement to policyholders during the first six months of the calendar year (Started March 21), marking a 23% increase year-on-year. Central Insurance of Iran announced that compared to last year, earnings of insurance firms improved 13.2%, reaching 116.9 trillion rials ($ 3.9 billion), Central Insurance of Iran’s website reported. According to the figures, third party vehicle insurance accounted for 33.4% of the total premiums followed by health insurance at 32.2%, life insurance at 10.2% and car insurance 5.2%. Third party insurance comprised 38.8% of the total compensations followed by health insurance at 34.6%. Car and life insurances accounted for 6.9% and 6.5% of the total payments to policyholders respectively. The report shows that during the said period 22 million insurance policies were sold, a 6.2% growth from a year earlier.