Non-Life Insurance in Iran, Key Trends and Opportunities to 2020

Published: Aug, 2017 | Pages: 112 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis
Timetric's 'Non-Life Insurance in Iran, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Iranian non-life insurance segment, and a comparison of the Iranian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Iranian economy and demographics, explains the various types of natural hazard and their impact on the Iranian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Non-Life Insurance in Iran, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Iranian non-life insurance segment, including:

• The Iranian non-life segment's detailed outlook by product category

• A comprehensive overview of the Iranian economy and demographics

• A comparison of the Iranian non-life insurance segment with its regional counterparts

• The various distribution channels in the Iranian non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Iranian insurance industry

• Details of the competitive landscape in the non-life insurance segment in Iran

• Details of regulatory policy applicable to the Iranian insurance industry

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Iran:

• It provides historical values for the Iranian non-life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key categories in the Iranian non-life insurance segment, and market forecasts to 2020.

• It provides a comparison of the Iranian non-life insurance segment with its regional counterparts

• It analyzes the various distribution channels for non-life insurance products in Iran.

• It analyzes various natural hazards and their impact on the Iranian insurance industry

• It profiles the top non-life insurance companies in Iran, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Iranian non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Iranian non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Iranian insurance industry, and their impact on companies and the industry's future.

Key Hightlights

• According to the United Nations Children's Fund (Unicef), road traffic accidents killed around 28,000 people in Iran in 2016, and either injured or disabled more than 300,000.

• According to the International Organization of Motor Vehicle Manufacturers, Iran was the 14th largest car manufacturer in the world in 2016.

• In March 2017, Iran's crude oil exports reached 3.0 million barrels for the first time since 1979. The export of crude oil averaged 2.5 million barrels per day during January 2016 and February 2017. 

• In February 9, 2017, the Central Insurance of Iran (CII) and Central Bank of Armenia signed an agreement of mutual cooperation between insurance and reinsurance business.

• In December 22, 2016, the European airplane manufacturer Airbus signed a contract with Iran Air to sell 100 jets with delivery starting from January 2017. The value of this deal is expected to be IRR 310.3 trillion (US$10.0 billion).

 Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies sold
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies sold
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies sold
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
7 Natural and Man-Made Hazards
7.1 Flooding
7.2 Droughts
7.3 Earthquakes
7.4 Landslides
7.5 Snowstorms
7.6 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Iran Insurance Company - company overview
8.1.2 Asia Insurance Company - company overview
8.1.3 Dana Insurance Company - company overview
8.1.4 Alborz Insurance Company - company overview
8.1.5 Parsian Insurance Company - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Liability insurance for ships with respect to oil pollution
9.4.3 Social security insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Central Insurance of Iran
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Property Insurance
10.5 Property Insurance by Product
10.6 Motor Insurance
10.7 Motor Insurance by Product
10.8 Liability Insurance
10.9 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of TablesTable 1: Iranian Non-Life Insurance - Key Facts, 2015
Table 2: Iranian Non-Life Insurance - Top Insurers, 2015
Table 3: Iranian Non-Life Insurance - Gross Written Premium (IRR Trillion and US$ Billion), 2011-2015
Table 4: Iranian Non-Life Insurance - Penetration (%), 2011-2015
Table 5: Iranian Non-Life Insurance - Gross Written Premium (IRR Trillion and US$ Billion), 2015-2020
Table 6: Iranian Non-Life Insurance - Penetration (%), 2015-2020
Table 7: Iranian Non-Life Insurance - Premium per Capita (IRR Thousand and US$), 2011-2015
Table 8: Iranian Non-Life Insurance - Premium per Capita (IRR Thousand and US$), 2015-2020
Table 9: Iranian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 10: Iranian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 11: Iranian Non-Life Insurance - Paid Claims (IRR Trillion and US$ Billion), 2011-2015
Table 12: Iranian Non-Life Insurance - Paid Claims (IRR Billion and US$ Billion), 2015-2020
Table 13: Iranian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 14: Iranian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 15: Iranian Non-Life Insurance - Total Assets (IRR Trillion and US$ Billion), 2011-2015
Table 16: Iranian Non-Life Insurance - Total Assets (IRR Trillion and US$ Billion), 2015-2020
Table 17: Iranian Non-Life Insurance - Total Investment Income (IRR Trillion and US$ Million), 2011-2015
Table 18: Iranian Non-Life Insurance - Total Investment Income (IRR Trillion and US$ Million), 2015-2020
Table 19: Iranian Non-Life Insurance - Direct Written Premium by Category (IRR Trillion), 2011-2015
Table 20: Iranian Non-Life Insurance - Direct Written Premium by Category (IRR Trillion), 2015-2020
Table 21: Iranian Property Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2011-2015
Table 22: Iranian Property Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2015-2020
Table 23: Iranian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 24: Iranian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 25: Iranian Property Insurance - Paid Claims (IRR Trillion and US$ Million), 2011-2015
Table 26: Iranian Property Insurance - Paid Claims (IRR Trillion and US$ Million), 2015-2020
Table 27: Iranian Property Insurance - Loss Ratio (%), 2011-2015
Table 28: Iranian Property Insurance - Loss Ratio (%), 2015-2020
Table 29: Iranian Motor Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2011-2015
Table 30: Iranian Motor Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2015-2020
Table 31: Iranian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 32: Iranian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 33: Iranian Motor Insurance - Paid Claims (IRR Trillion and US$ Billion), 2011-2015
Table 34: Iranian Motor Insurance - Paid Claims (IRR Trillion and US$ Billion), 2015-2020
Table 35: Iranian Motor Insurance - Loss Ratio (%), 2011-2015
Table 36: Iranian Motor Insurance - Loss Ratio (%), 2015-2020
Table 37: Iranian Liability Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2011-2015
Table 38: Iranian Liability Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2015-2020
Table 39: Iranian Liability Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 40: Iranian Liability Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 41: Iranian Liability Insurance - Paid Claims (IRR Trillion and US$ Million), 2011-2015
Table 42: Iranian Liability Insurance - Paid Claims (IRR Trillion and US$ Million), 2015-2020
Table 43: Iranian Liability Insurance - Loss Ratio (%), 2011-2015
Table 44: Iranian Liability Insurance - Loss Ratio (%), 2015-2020
Table 45: Iranian Transport Network - Global Rankings
Table 46: Iranian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2011-2015
Table 47: Iranian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (IRR Trillion), 2015-2020
Table 48: Iranian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 49: Iranian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 50: Iranian Marine, Aviation and Transit Insurance - Paid Claims (IRR Billion and US$ Million), 2011-2015
Table 51: Iranian Marine, Aviation and Transit Insurance - Paid Claims (IRR Billion and US$ Million), 2015-2020
Table 52: Iranian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 53: Iranian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 54: Iranian Non-Life Segment - Leading Insurers, 2015
Table 55: Iran Insurance Company - Key Facts
Table 56: Asia Insurance Company - Key Facts
Table 57: Dana Insurance Company - Key Facts
Table 58: Alborz Insurance Company - Key Facts
Table 59: Parsian Insurance Company - Key Facts
Table 60: Iran - Insurance Regulatory Framework Key Features
Table 61: Iran - Life Insurance Regulatory Framework
Table 62: Iran - Property Insurance Regulatory Framework
Table 63: Iran - Motor Insurance Regulatory Framework
Table 64: Iran - Liability Insurance Regulatory Framework
Table 65: Iran - Corporate Tax Rates for the Financial Year 2017
Table 66: Iranian Insurance Industry - Policies and Premium, 2011-2015
Table 67: Iranian Insurance Industry - Policies and Premium, 2015-2020
Table 68: Iranian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 69: Iranian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 70: Iranian Non-Life Insurance - Assets and Investments, 2011-2015
Table 71: Iranian Non-Life Insurance - Assets and Investments, 2015-2020
Table 72: Iranian Non-Life Insurance - Property Insurance, 2011-2015
Table 73: Iranian Non-Life Insurance - Property Insurance, 2015-2020
Table 74: Iranian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 75: Iranian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 76: Iranian Non-Life Insurance - Motor Insurance, 2011-2015
Table 77: Iranian Non-Life Insurance - Motor Insurance, 2015-2020
Table 78: Iranian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 79: Iranian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 80: Iranian Non-Life Insurance - Liability Insurance, 2011-2015
Table 81: Iranian Non-Life Insurance - Liability Insurance, 2015-2020
Table 82: Iranian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 83: Iranian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 84: Insurance Industry Definitions