Non-Life Insurance in Iran, Key Trends and Opportunities to 2020

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

$1450
Buy Report View Sample

Published: August 16, 2017 Report Code: GD-IS1548MR-ST

Select Item

GlobalData’s 'Non-Life Insurance in Iran, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Iranian non-life insurance segment, and a comparison of the Iranian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Iranian economy and demographics, explains the various types of natural hazard and their impact on the Iranian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Iran:

• It provides historical values for the Iranian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

• It offers a detailed analysis of the key categories in the Iranian non-life insurance segment, and market forecasts to 2020.

• It provides a comparison of the Iranian non-life insurance segment with its regional counterparts

• It analyzes the various distribution channels for non-life insurance products in Iran.

• It analyzes various natural hazards and their impact on the Iranian insurance industry

• It profiles the top non-life insurance companies in Iran, and outlines the key regulations affecting them.

Key Highlights

• According to the United Nations Children's Fund (Unicef), road traffic accidents killed around 28,000 people in Iran in 2016, and either injured or disabled more than 300,000.

• According to the International Organization of Motor Vehicle Manufacturers, Iran was the 14th largest car manufacturer in the world in 2016.

• In March 2017, Iran’s crude oil exports reached 3.0 million barrels for the first time since 1979. The export of crude oil averaged 2.5 million barrels per day during January 2016 and February 2017.

• In February 9, 2017, the Central Insurance of Iran (CII) and Central Bank of Armenia signed an agreement of mutual cooperation between insurance and reinsurance business.

• In December 22, 2016, the European airplane manufacturer Airbus signed a contract with Iran Air to sell 100 jets with delivery starting from January 2017. The value of this deal is expected to be IRR 310.3 trillion (US$10.0 billion).

Reasons to Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Iranian non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Iranian non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Iranian insurance industry, and their impact on companies and the industry's future.

Iran Insurance Company
Asia Insurance Company
Dana Insurance Company
Alborz Insurance Company
Parsian Insurance Company
Sina Insurance Company
Pasargad Insurance Company
Kosar Insurance Company
Toseh-eh Insurance Company

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Profitability

4.2.5 Assets and investments

5 Outlook by Category

5.1 Property Insurance

5.1.1 Product overview

5.1.2 Premium

5.1.3 Policies sold

5.1.4 Claims

5.1.5 Profitability

5.2 Motor Insurance

5.2.1 Product overview

5.2.2 Premium

5.2.3 Policies sold

5.2.4 Claims

5.2.5 Profitability

5.3 Liability Insurance

5.3.1 Product overview

5.3.2 Premium

5.3.3 Policies sold

5.3.4 Claims

5.3.5 Profitability

5.4 Marine, Aviation and Transit Insurance

5.4.1 Product overview

5.4.2 Premium

5.4.3 Policies sold

5.4.4 Claims

5.4.5 Profitability

6 Distribution Channel Outlook

7 Natural and Man-Made Hazards

7.1 Flooding

7.2 Droughts

7.3 Earthquakes

7.4 Landslides

7.5 Snowstorms

7.6 Exposure

8 Competitive Landscape

8.1 Company Profiles

8.1.1 Iran Insurance Company – company overview

8.1.2 Asia Insurance Company – company overview

8.1.3 Dana Insurance Company – company overview

8.1.4 Alborz Insurance Company – company overview

8.1.5 Parsian Insurance Company – company overview

9 Governance, Risk and Compliance

9.1 Legislation Overview and Historical Evolution

9.2 Latest Changes in Regulation

9.3 Legislation and Market Practice by Type of Insurance

9.3.1 Life insurance

9.3.2 Property insurance

9.3.3 Motor insurance

9.3.4 Liability insurance

9.3.5 Marine, aviation and transit insurance

9.3.6 Personal accident and health insurance

9.4 Compulsory Insurance

9.4.1 Motor third-party liability insurance

9.4.2 Liability insurance for ships with respect to oil pollution

9.4.3 Social security insurance

9.5 Supervision and Control

9.5.1 International Association of Insurance Supervisors

9.5.2 Central Insurance of Iran

9.6 Non-Admitted Insurance Regulations

9.6.1 Overview

9.6.2 Intermediaries

9.6.3 Market practices

9.6.4 Fines and Penalties

9.7 Company Registration and Operations

9.7.1 Type of insurance organization

9.7.2 Establishing a local company

9.7.3 Foreign ownership

9.7.4 Types of license

9.7.5 Capital requirements

9.7.6 Solvency margin

9.7.7 Reserve requirements

9.7.8 Investment regulations

9.7.9 Statutory return requirements

9.7.10 Fee structure

9.8 Taxation

9.8.1 Insurance premium or policy taxation

9.8.2 Withholding taxes on premium paid overseas

9.8.3 Corporate tax

9.8.4 VAT

9.8.5 Captives

9.9 Legal System

9.9.1 Introduction

9.9.2 Access to court

9.9.3 Alternative dispute resolution

10 Databook

10.1 Policies and Premium

10.2 Claims and Expenses

10.3 Assets and Investments

10.4 Property Insurance

10.5 Property Insurance by Product

10.6 Motor Insurance

10.7 Motor Insurance by Product

10.8 Liability Insurance

10.9 Marine, Aviation and Transit Insurance

11 Definitions and Methodology

11.1 Definitions

11.2 Methodology

12 About GlobalData

12.1 Contact GlobalData

12.2 About GlobalData

12.3 GlobalData’s Services

12.4 Disclaimer

Table

Table 1: Iranian Non-Life Insurance – Key Facts, 2015

Table 2: Iranian Non-Life Insurance – Top Insurers, 2015

Table 3: Iranian Non-Life Insurance – Gross Written Premium (IRR Trillion and US$ Billion), 2011–2015

Table 4: Iranian Non-Life Insurance – Penetration (%), 2011–2015

Table 5: Iranian Non-Life Insurance – Gross Written Premium (IRR Trillion and US$ Billion), 2015–2020

Table 6: Iranian Non-Life Insurance – Penetration (%), 2015–2020

Table 7: Iranian Non-Life Insurance – Premium per Capita (IRR Thousand and US$), 2011–2015

Table 8: Iranian Non-Life Insurance – Premium per Capita (IRR Thousand and US$), 2015–2020

Table 9: Iranian Non-Life Insurance – Number of Policies Sold (Million), 2011–2015

Table 10: Iranian Non-Life Insurance – Number of Policies Sold (Million), 2015–2020

Table 11: Iranian Non-Life Insurance – Paid Claims (IRR Trillion and US$ Billion), 2011–2015

Table 12: Iranian Non-Life Insurance – Paid Claims (IRR Billion and US$ Billion), 2015–2020

Table 13: Iranian Non-Life Insurance – Profitability Ratio (%), 2011–2015

Table 14: Iranian Non-Life Insurance – Profitability Ratio (%), 2015–2020

Table 15: Iranian Non-Life Insurance – Total Assets (IRR Trillion and US$ Billion), 2011–2015

Table 16: Iranian Non-Life Insurance – Total Assets (IRR Trillion and US$ Billion), 2015–2020

Table 17: Iranian Non-Life Insurance – Total Investment Income (IRR Trillion and US$ Million), 2011–2015

Table 18: Iranian Non-Life Insurance – Total Investment Income (IRR Trillion and US$ Million), 2015–2020

Table 19: Iranian Non-Life Insurance – Direct Written Premium by Category (IRR Trillion), 2011–2015

Table 20: Iranian Non-Life Insurance – Direct Written Premium by Category (IRR Trillion), 2015–2020

Table 21: Iranian Property Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2015

Table 22: Iranian Property Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2015–2020

Table 23: Iranian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2015

Table 24: Iranian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020

Table 25: Iranian Property Insurance – Paid Claims (IRR Trillion and US$ Million), 2011–2015

Table 26: Iranian Property Insurance – Paid Claims (IRR Trillion and US$ Million), 2015–2020

Table 27: Iranian Property Insurance – Loss Ratio (%), 2011–2015

Table 28: Iranian Property Insurance – Loss Ratio (%), 2015–2020

Table 29: Iranian Motor Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2015

Table 30: Iranian Motor Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2015–2020

Table 31: Iranian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2015

Table 32: Iranian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2015–2020

Table 33: Iranian Motor Insurance – Paid Claims (IRR Trillion and US$ Billion), 2011–2015

Table 34: Iranian Motor Insurance – Paid Claims (IRR Trillion and US$ Billion), 2015–2020

Table 35: Iranian Motor Insurance – Loss Ratio (%), 2011–2015

Table 36: Iranian Motor Insurance – Loss Ratio (%), 2015–2020

Table 37: Iranian Liability Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2015

Table 38: Iranian Liability Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2015–2020

Table 39: Iranian Liability Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 40: Iranian Liability Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 41: Iranian Liability Insurance – Paid Claims (IRR Trillion and US$ Million), 2011–2015

Table 42: Iranian Liability Insurance – Paid Claims (IRR Trillion and US$ Million), 2015–2020

Table 43: Iranian Liability Insurance – Loss Ratio (%), 2011–2015

Table 44: Iranian Liability Insurance – Loss Ratio (%), 2015–2020

Table 45: Iranian Transport Network – Global Rankings

Table 46: Iranian Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2015

Table 47: Iranian Marine, Aviation and Transit Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2015–2020

Table 48: Iranian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2015

Table 49: Iranian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2015–2020

Table 50: Iranian Marine, Aviation and Transit Insurance – Paid Claims (IRR Billion and US$ Million), 2011–2015

Table 51: Iranian Marine, Aviation and Transit Insurance – Paid Claims (IRR Billion and US$ Million), 2015–2020

Table 52: Iranian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2011–2015

Table 53: Iranian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2015–2020

Table 54: Iranian Non-Life Segment – Leading Insurers, 2015

Table 55: Iran Insurance Company – Key Facts

Table 56: Asia Insurance Company – Key Facts

Table 57: Dana Insurance Company – Key Facts

Table 58: Alborz Insurance Company – Key Facts

Table 59: Parsian Insurance Company – Key Facts

Table 60: Iran – Insurance Regulatory Framework Key Features

Table 61: Iran – Life Insurance Regulatory Framework

Table 62: Iran – Property Insurance Regulatory Framework

Table 63: Iran – Motor Insurance Regulatory Framework

Table 64: Iran – Liability Insurance Regulatory Framework

Table 65: Iran – Corporate Tax Rates for the Financial Year 2017

Table 66: Iranian Insurance Industry – Policies and Premium, 2011–2015

Table 67: Iranian Insurance Industry – Policies and Premium, 2015–2020

Table 68: Iranian Non-Life Insurance – Claims and Expenses, 2011–2015

Table 69: Iranian Non-Life Insurance – Claims and Expenses, 2015–2020

Table 70: Iranian Non-Life Insurance – Assets and Investments, 2011–2015

Table 71: Iranian Non-Life Insurance – Assets and Investments, 2015–2020

Table 72: Iranian Non-Life Insurance – Property Insurance, 2011–2015

Table 73: Iranian Non-Life Insurance – Property Insurance, 2015–2020

Table 74: Iranian Non-Life Insurance – Property Insurance by Product, 2011–2015

Table 75: Iranian Non-Life Insurance – Property Insurance by Product, 2015–2020

Table 76: Iranian Non-Life Insurance – Motor Insurance, 2011–2015

Table 77: Iranian Non-Life Insurance – Motor Insurance, 2015–2020

Table 78: Iranian Non-Life Insurance – Motor Insurance by Product, 2011–2015

Table 79: Iranian Non-Life Insurance – Motor Insurance by Product, 2015–2020

Table 80: Iranian Non-Life Insurance – Liability Insurance, 2011–2015

Table 81: Iranian Non-Life Insurance – Liability Insurance, 2015–2020

Table 82: Iranian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2011–2015

Table 83: Iranian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2015–2020

Table 84: Insurance Industry Definitions

Figures

Figure 1: Iranian Real GDP (IRR Quadrillion), 2012–2021

Figure 2: Iranian Consumer Price Inflation (%), 2012–2021

Figure 3: Iranian Current Account Balance as Percentage of GDP (%), 2012–2021

Figure 4: IRR-US$ Exchange Rate, 2011–2020

Figure 5: Iranian Unemployment Rate, 2012–2021

Figure 6: Iranian Population by Age Group, 1996–2025

Figure 7: Iranian Non-Life Insurance Penetration – Regional Comparison (%), 2015

Figure 8: Iranian Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2015

Figure 9: Iranian Non-Life Insurance – Gross Written Premium (IRR Trillion), 2011–2020

Figure 10: Iranian Non-Life Insurance – Penetration (%), 2011–2020

Figure 11: Iranian Non-Life Insurance – Premium per Capita (IRR Thousand), 2011–2020

Figure 12: Iranian Non-Life Insurance – Number of Policies Sold (Million), 2011–2020

Figure 13: Iranian Non-Life Insurance – Paid Claims (IRR Trillion), 2011–2020

Figure 14: Iranian Non-Life Insurance – Profitability Ratio (%), 2011–2020

Figure 15: Iranian Non-Life Insurance – Total Assets (IRR Trillion), 2011–2020

Figure 16: Iranian Non-Life Insurance – Total Investment Income (IRR Trillion), 2011–2020

Figure 17: Iranian Non-Life Insurance – Direct Written Premium by Category (IRR Trillion), 2011–2020

Figure 18: Iranian Non-Life Insurance – Direct Written Premium Dynamics by Category, 2011–2020

Figure 19: Iranian Property Insurance – Construction Value Output by Category (IRR Trillion), 2011–2020

Figure 20: Iranian Property Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2020

Figure 21: Iranian Property Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020

Figure 22: Iranian Property Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020

Figure 23: Iranian Property Insurance – Paid Claims (IRR Trillion), 2011–2020

Figure 24: Iranian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (IRR Trillion and %), 2011–2020

Figure 25: Iranian Motor Insurance – Direct Written Premium by Sub-Category (IRR Trillion), 2011–2020

Figure 26: Iranian Motor Insurance – Direct Written Premium Dynamics by Sub-Category, 2011–2020

Figure 27: Iranian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2011–2020

Figure 28: Iranian Motor Insurance – Paid Claims (IRR Trillion), 2011–2020

Figure 29: Iranian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (IRR Trillion and %), 2011–2020

Figure 30: Iranian Liability Insurance – Direct Written Premium (IRR Trillion), 2011–2020

Figure 31: Iranian Liability Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 32: Iranian Liability Insurance – Paid Claims (IRR Trillion), 2011–2020

Figure 33: Iranian Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (IRR Trillion and %), 2011–2020

Figure 34: Iranian Marine, Aviation and Transit Insurance – Direct Written Premium (IRR Trillion), 2011–2020

Figure 35: Iranian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2011–2020

Figure 36: Iranian Marine, Aviation and Transit Insurance – Paid Claims (IRR Trillion), 2011–2020

Figure 37: Iranian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (IRR Billion and %), 2011–2020

Figure 38: Iran – Insurance Supervision and Control at Various Levels

Figure 39: Iran – Insurance Regulatory Frameworks for Company Registration and Operation

Frequently asked questions

Non-Life Insurance in Iran, Key Trends and Opportunities to 2020 standard reports
Currency USD
$1,450

Can be used by individual purchaser only

Most Popular
$2,900

Can be shared by unlimited users within one corporate location e.g. a regional office

$4,350

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Add to Basket

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

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.

Sample Report

Non-Life Insurance in Iran, Key Trends and Opportunities to 2020 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

 Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

 Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

 Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

 Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

 Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

 Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

 Senior Account Manager, TSYS

Related reports

View more Financial Services reports
Financial Services
New
Worldline - Competitor Profile
$350 | March 2024
Financial Services
New
United Kingdom (UK) Travel Insurance Distribution Dynamics by Channels and…
$1,295 | March 2024
Financial Services
New
United Kingdom (UK) Private Landlord Insurance Market Analysis and Competitive…
$3,450 | April 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Non-Life Insurance in Iran, Key Trends and Opportunities to 2020 in real time.

  • Access a live Non-Life Insurance in Iran, Key Trends and Opportunities to 2020 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.
Tell me more