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Iran reinsurance market: 30% CAGR growth witnessed between 2008-12

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Reinsurance in Iran, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-04 15:37:01
The Iranian reinsurance segment increased at a review-period CAGR of 30.2% (2008–2012). Despite the global economic crisis, the segment registered a year-on-year growth of 16.3% in 2009. The segment had the highest growth rate in the world of 44.3% in 2011. The uptake of motor third-party liability policies with the introduction of compulsory motor third-party liability insurance in Iran supported the growth of the reinsurance segment in 2011.

According to Article 71, both life and non-life insurers must cede 50% of their premium to Iranian Central Insurance (Bimeh Markhazi), which dominated the reinsurance segment as well as regulating, expanding and guiding the overall industry. The growth of all three segments is expected to advance the forecast-period (2012–2017) growth of the reinsurance segment

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