Iran life insurance growth impressive

Financial Tribune – Insurance companies generated 66 trillion rials ($584 million) from life insurance policies in the last fiscal year (ended March 2019), indicating 42.3% increase compared to the year before.

As per data released by the Central Insurance of Iran, the share of life insurance from total premium income was 14.5% — an all-time high.

But growth in premium income in this category seems to be linked more to higher prices of policies. The above-mentioned sum was generated from 2.12 million life insurance policies, which surprisingly is 11.5% lower than the total life insurance policies issued the year before.