The Central Insurance company of Iran in charge of regulating the industry, has released a report on the performance of the key sector in the previous fiscal year (March 2019-2020) saying insurers reported 35.7% growth in their premium income compared to the year before.
Increase in their annual income was lower than the year before. However, the report includes some interesting numbers that make the pandemic-hit sector hopeful about the future.
For instance, 29 companies collectively generated 591 trillion rials from selling insurance policies. The regulator had earlier predicted that insurers’ earnings from insurance policy would reach a record 600 trillion rials ($3.8 billion) by the end of the current calendar year that ended in March.
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