Non-Life Insurance in Iran, Key Trends and Opportunities to 2018

Date: 2015-09

The Iranian non-life insurance segmentโ€™s performance during the review period (2009โ€“2013) was strongly influenced by GDP growth and an increase in the motor insurance category, driven by compulsory motor third-party liability insurance and the rising number of road accidents. A rise in premiums also supported the segmentโ€™s growth. As a result, the segment grew at a review-period compound annual growth rate (CAGR) of 33.2%. The threat of natural disasters, an anticipated growth in GDP, and growth in the property, motor and industrial sectors are expected to encourage the segment to record a forecast-period CAGR of 23.5% over the forecast period (2013โ€“2018). The industry will also be driven by rising levels of risk awareness among Iranian consumers. Motor insurance accounted for the largest share of the non-life segment in 2012, and is expected to continue its dominance over the forecast period.

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