Life Insurance Market Improves

Two life insurance companies recorded the highest growth in premium income in the first seven months of the current fiscal year that started in March.
According to data released by the Central Insurance company of Iran, the regulatory and supervisory body of the sector, Middle East Life Insurance Company, affiliated to Middle East Bank, generated 1.92 trillion rials ($6.8 million) from 38,564 life insurance policies posting 545% increase in income and 86% increase in the number of policies sold compared to the same period last year.
Baran Life Insurance Company registered 170% increase in premium income at 532 billion rials ($1.88 million) and sold 4,321 policies up 196% y/y.