Iran Insurance Report - Business Monitor International - Industry Reports

Iran Insurance Report

Iran Insurance Report - Business Monitor International - Industry Reports
Iran Insurance Report
Published Sep 03, 2016
60 pages — Published Sep 03, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

The impact of sanctions relief will be felt immediately with growth in local currency terms of -- in ---- to IRR--.-trn, an upward revision from -- growth forecast in the previous quarter. However, in US dollar terms, the market will contract -.- due to currency movements. ...In particular, the number of Iranians earning between USD--,--- and USD--,--- a year will expand from around -.-mn in ---- to -.-mn in ----. The number of individuals in the USD-,--- to USD--,--- earning bracket will stagnate over the period, indicating that households are increasingly moving from a low-income to a middle-income standard of living. Growth in disposable incomes will present increasing opportunities for life insurers to penetrate what remains a relatively untapped market. ...The number of individuals in the USD-,--- to USD--,--- earning bracket will stagnate over the period, indicating that households are increasingly moving from a low-income to a middle-income standard of living. Growth in disposable incomes will present increasing opportunities for life insurers to penetrate what remains a relatively untapped market.

...For a middle-income country with a sizeable population, Iran s life insurance market remains significantly underdeveloped, with penetration currently at around -.- of GDP. The segment is also considerably smaller than the non-life sector, accounting for just --.- of total premiums. ...While the market will remain small in absolute terms, the lifting of sanctions will raise household incomes and help expand the range of life insurance products on the market. This quarter, we have significantly raised our forecast for gross premiums written in anticipation of demographic changes brought about by economic growth and the expectation of partnerships with foreign insurers. We also believe that government involvement in the sector through the regulator and the dominating state-owned insurance firm has hindered growth by discouraging competition among local re-insurers. ...This quarter, we have significantly raised our forecast for gross premiums written in anticipation of demographic changes brought about by economic growth and the expectation of partnerships with foreign insurers.

...Iran s life gross written premiums are set to grow -- from ---- in US dollar terms to USD-.--bn in ----, while the non-life sector will grow just -- over the same period to USD-.--bn. Overall claims are likely to rise as a result of a recent Islamic ruling which put women on a parity with men; in the past, women were only allowed half the level of men in the event of injury, disability or death. ...

  
Source:
Document ID
1752-8267
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Iran Insurance Report" Sep 03, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Iran-Insurance-Report-2026-488>
  
APA:
Business Monitor International - Industry Reports. (2016). Iran Insurance Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Iran-Insurance-Report-2026-488>
  
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