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37% Rise in Insurance Premiums

37% Rise  in Insurance Premiums 37% Rise  in Insurance Premiums

The statistics department of the Central Insurance (Bimeh Markazi) of Iran has announced a 37.4 percent increase in the number of insurance premiums, as well as a 24.7 percent increase in the payment of compensation premiums payable for the damage caused by accident to vehicles in the first seven months of the current Iranian year (March 21-October 22), compared to the similar period of the previous year, IRNA reported. The report says that the high growth rate has come despite the financial restrictions – as part of the international sanctions over Iran’s nuclear program - that have slowed down the insurance sector’s development. Insurance premiums reached 117.1 trillion rials, showing a 35.8 percent growth for the period, Bimeh Markazi data shows.

 

Financialtribune.com