Iran General Insurance Market Size, Trends by Line of Business (Personal, Accident and Health, Liability, Financial Lines, Property, Motor, Marine, Aviation and Transit Insurance, and Miscellaneous), Distribution Channel, Competitive Landscape and Forecast, 2020-2025
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Iran General Insurance Market Report Overview
The gross written premium of the Iran general insurance industry was IRR900 trillion ($21.4 billion) in 2021. The market is expected to achieve a CAGR of more than 23% during 2020-2025. The Iran general insurance industry research report provides in-depth market analysis, information, insights, and a detailed outlook by product category for the Iran general insurance segment. It also provides values for key performance indicators such as gross written premium, loss ratio, retail and commercial split, premium by line of business, and premium ceded during the review period and forecast period.
The report analyzes distribution channels operating in the segment, gives a comprehensive overview of Iran’s economy and demographics, and provides detailed information on the competitive landscape in the country. The report also gives insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report includes details of insurance regulations and recent changes in the regulatory structure.
Iran General Insurance Market Outlook
For more insights on Iran general insurance market forecast, download a free report sample
Key Iran General Insurance Industry Trends
One of the key trends in Iran’s general insurance industry is the use of technology such as AI. Artificial intelligence gives a competitive edge to insurers, as it helps in increasing productivity and reducing costs. The Hamraz application developed by Razi Insurance provides a fraud detection system that uses advanced artificial intelligence algorithms to evaluate the suspiciousness of damage cases and prevent them from happening.
Iran General Insurance Industry Segmentation by Lines of Business
The key lines of business in the Iran general insurance industry are motor, non-life PA&H, property, liability, financial lines, MAT, and miscellaneous. Motor insurance had the highest share among all these lines of business.
Motor Insurance: Motor insurance is the dominant line of business in the general insurance segment, supported by mandatory motor third-party liability insurance, which accounted for more than 79% of total motor’s DWP in 2020. Furthermore, the market is expected to witness steady and consistent growth over the forecast period as Iran’s government is taking the necessary actions to boost the production of vehicles and their parts locally to meet the demand for vehicles, and at the same time reduce its import cost.
Iran General Insurance Industry Analysis, by Lines of Business
For more Iran general insurance market lines of business insights, download a free report sample
Iran General Insurance Market - Competitive Landscape
Some of the leading general insurance companies in Iran are Bimeh Iran Insurance Company, Bimeh Asia Insurance Company, Day Insurance Company, Alborz Insurance Company, and Parsian Insurance Company.
Bimeh Iran Insurance Company: Bimeh Iran (Iran Insurance Company) is a state-owned composite insurer, as well as the leading insurer in the Iranian general insurance segment.
Iran General Insurance Market Report Overview
Market Size (2021) | IRR900 trillion ($21.4 billion) (GWP) |
CAGR (2020-2025) | >23% |
Key Lines of Business | Motor, Non-Life PA&H, Property, Liability, Financial Lines, MAT, and Miscellaneous |
Leading Companies | Bimeh Iran Insurance Company, Bimeh Asia Insurance Company, Day Insurance Company, Alborz Insurance Company, and Parsian Insurance Company |
Scope
This report provides:
- Comprehensive analysis of the general insurance segment in Iran.
- Historical values for the Iran general insurance segment for the report’s review period and projected figures for the forecast period.
- Detailed analysis of the key categories in the Iran general insurance segment and market forecasts to 2025.
- Profiles of the top general insurance companies in Iran and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Iran general insurance segment, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Iran general insurance segment.
- Assess the competitive dynamics in the general insurance segment.
- Identify growth opportunities and market dynamics in key product categories.
Bimeh Asia
Day Insurance Company
Alborz Insurance Company
Parsian Insurance Company
Table of Contents
Frequently asked questions
-
What was the Iran general insurance industry gross written premium in 2021?
The gross written premium of the Iran general insurance industry was IRR900 trillion ($21.4 billion) in 2021.
-
What is the Iran general insurance industry growth rate?
The Iran general insurance industry is expected to achieve a CAGR of more than 23% during 2020-2025.
-
What are the key lines of business in the Iran general insurance industry?
The key lines of business in the Iran general insurance industry are motor, non-life PA&H, property, liability, financial lines, MAT, and miscellaneous.
-
What are the leading companies in the Iran general insurance industry?
Some of the key insurance companies in the Iran general insurance industry are Bimeh Iran Insurance Company, Bimeh Asia Insurance Company, Day Insurance Company, Alborz Insurance Company, and Parsian Insurance Company.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.