Non-Life Insurance in Iran, Key Trends and Opportunities to 2019

Date: 2015-12

“• In 2014, non-life penetration in Iran measured 1.3% and is projected to reach 1.6%, by 2019.

• Motor insurance was Iran’s largest non-life category, accounting for 78.1% of the segment’s gross written premium in 2014.

• Growth and development in the construction industry supported the demand for property insurance in Iran during the review period.

• Transit insurance accounted for the highest share 42.3% of the category’s total gross written premium in 2014; marine insurance accounted for 31.3% followed by aviation insurance with 26.5%.

• Direct marketing was the dominant channel during the review period. Bancassurance emerged as the fastest-growing channel during the review period, due to high credibility, availability of organized customer base, and widespread reach of banks especially in the rural areas.”

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