Boston, MA -- (SBWIRE) -- 10/24/2013 -- The Iranian life insurance segment accounted for the lowest market share of the Iranian insurance industry. With the implementation of more liberal trade policies, the number of state-owned insurance companies fell from four in 2006 to one in 2011, while the number of private insurers increased from 16 in 2008 to 24 in 2011. The life insurance segment represented 9.9% of the Iranian insurance industry in 2012. Consumer austerity measures and government initiatives to promote life insurance are expected to lead the segment to grow over the forecast period (2013-2017), at a CAGR of 26.8%, from a value of IRR9.9 trillion (US$0.99 billion) in 2012 to IRR32.5 trillion (US$3.25 billion) in 2017.

Key Highlights

- The Iranian life insurance segment accounted for 9.9% of the country's insurance industry in 2012
- Despite the global financial crisis, rising public awareness of the importance of insurance played an important role in the growth of life insurance written premiums
- The Iranian life insurance segment registered 46.6% growth in 2011, primarily driven by rising consumer awareness of the benefits of insurance and promotional offers from insurance companies
- Over the forecast period, the segment is anticipated to increase from IRR9.9 trillion (US$0.99 billion) in 2012 to IRR32.5 trillion (US$3.25 billion) in 2017, at a CAGR of 26.8%
- The number of insurance companies rose from 20 in 2008 to 25 in 2011 as a result of privatization

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Scope

This report provides a comprehensive analysis of the life insurance market in Iran:

- It provides historical values for Iran's life insurance market for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Iran's life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Iran
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Iran for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Iran and its growth prospects
- It profiles the top life insurance companies in Iran and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using historic and forecast market data related to the Iranian life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Iranian life insurance segment

Companies Mentioned in this Report: Iran Insurance Company, Asia Insurance Co., Alborz Insurance Co., Parsian Insurance Co., Dana Insurance Co., Toseh-eh Insurance Co., Karafarin Insurance Co., Mellat Insurance Co., Day Insurance Co.

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