Iran’s Marine Insurance Driven by Growth
Iran’s Marine Insurance Driven by Growth
Saturday, March 03, 2018

Iran’s Marine Insurance Driven by Growth

Saturday, March 03, 2018

Iran’s Marine Insurance Driven by Growth

Data from the Central Insurance of Iran indicate that the country’s insurance industry has been boosting its profits and reducing its loss ratio for the past 10 years when it comes to covering ships and marine transportation.
Insurers earned less than 100 billion rials ($2.23 million) from ship insurance premiums in the fiscal 2007-8, which share grew only slightly in the following year and came down slightly again in the fiscal 2009-10, data from CII’s website show.
This is while the loss ratio of insurers in this field decreased from 86% in the fiscal 2007-8 to 42% in the year after, only to surge to 141% and then fall to 117% in the following two years.
The fiscal 2010-11 provided the first notable jump in the volume of ship insurance premiums as they grew beyond 700 billion rials ($15.66 million) with the loss ratio fixed at 60%, but the next year saw premiums rise above 1 trillion rials ($22.38 million) for the first time in a year, which saw a loss ratio of 84%.


To continue reading this article log in to your account, or join us now and get a free trial which includes access to this specific story.

You will not be charged for your trial and there is no obligation to purchase.

Create an account or sign in

Short URL : https://goo.gl/PCEULs
  1. https://goo.gl/8wkgxj
  • https://goo.gl/vpuJZZ
  • https://goo.gl/6MFpp8
  • https://goo.gl/pNq7qY
  • https://goo.gl/cZBW1p

You can also read ...

Asian and European economic support for Iran offers the potential to improve existing alternative international trade links and develop new links.
While American President Donald Trump has withdrawn from the...
1st USD Rate Hike After Unification
For the first time after the government decided to unify the...
Uber Chief Product Officer to Leave
Uber Technologies Chief Product Officer Jeff Holden is leaving...
Tesla Model 3
Elon Musk’s Model 3, once touted as Tesla’s $35,000 car for...
Iranians’ per capita honey consumption is 1 kilogram per year, while it is around 200 grams in other countries.
Iran has made noticeable progress in honey production, as it...
Efforts Underway to Unblock Iranian Accounts in Georgia
Efforts are underway to unblock some bank accounts belonging...
The number of foreign students enrolled in Iranian universities increased by 19% in the last Iranian year (ended March 20, 2018) compared to the year before.
Currently, some 55,000 foreign students are studying in...
Transport MoU With Greece
Iran and Greece have signed a memorandum of understanding to...

Add new comment