Economy, Business And Markets

20% Rise in Insurers' Revenues

20% Rise in Insurers' Revenues20% Rise in Insurers' Revenues

The insurance industry’s total generated premiums amounted to 76.1 trillion rials ($2.4 billion at market exchange rate) in the four months that ended July 20, marking a year-on-year growth of 20%. Central Insurance of Iran’s latest statistics show that the industry's total paid losses grew by 10% during the period. Iran Insurance Company, the only state-owned firm in the market, held 37.88% of the total market. IIC managed to register a 6% growth in its market share, following successive declines. Asia Insurance Company accounted for 11.64% of the market. Dana Insurance accounted for 7% of premiums earned in the same period. The industry’s loss ratio stood at 60.86%, marking a 5% growth compared with the corresponding period of last year.