Reinsurance in Iran, Key Trends and Opportunities to 2018

Published: Sep, 2014 | Pages: 71 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth market analysis, information and insights into the Iranian reinsurance segment, including:
The Iranian reinsurance segment's growth prospects by reinsurance categories 
Key trends and drivers for the reinsurance segment 
The Iranian reinsurance segment's growth prospects by reinsurance ceded from direct insurance segments
The competitive landscape in the Iranian reinsurance segment 

Summary
The Iranian reinsurance segment was relatively stable during the review period, despite the global economic crisis. In terms of gross written premium, facultative reinsurance held the largest proportion of the Iranian reinsurance segment with a 51.5% share in 2013, followed by treaty reinsurance with 48.5%. Treaty reinsurance is expected to hold the largest segmental share over the forecast period, however, with 57.0% in 2018. The frequent occurrence of natural disasters, as well as insurers' preference for issuing a particular type of insurance is expected to drive the growth of treaty reinsurance over the forecast period.
The Iranian reinsurance segment grew at a compound annual growth rate (CAGR) of 31.8% during the review period (2009-2013). Despite the global economic crisis, the segment registered annual growth of 16.3% in 2009. Iranian reinsurance had the world's highest annual growth rate in 2011, with 44.3%. In the same year, the uptake of motor third-party liability policies, along with the introduction of compulsory motor third-party liability insurance, supported the growth of the reinsurance segment. According to Article 71 of the Insurance Law, both life and non-life insurers must cede 50.0% of their premium to the Iranian Central Insurance (Bimeh Markhazi), which dominates the reinsurance segment, and also regulates, expands and guides the overall industry. The growth of all three primary segments is expected to advance the growth of reinsurance over the forecast period (2013-2018). 
Scope
This report provides a comprehensive analysis of the reinsurance segment in Iran:
It provides historical values for Iran's reinsurance segment for the report's 2009-2013 review period and projected figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key sub-segments in Iran's reinsurance segment, along with market forecasts until 2018.
It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Iran and its growth prospects. 
Reason To Buy
 Make strategic business decisions using in depth historic and forecast market data related to the Iranian reinsurance segment and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Iranian reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Iranian insurance industry and its impact on companies and the market's future 
Key Highlights
 The premium accepted by the Iranian reinsurance segment increased at a review-period CAGR of 31.8%.
The facultative reinsurance category accounted for 51.5% of the total reinsurance premium accepted that year, while the treaty reinsurance category accounted for 48.5%.
Risk of natural disasters will support the development of reinsurance segment over the forecast period.
The Iranian reinsurance segment is driven by Article 71 of the Insurance Law, which established Bimeh Markazi and forcing insurers to cede a minimum percentage of their premium. The law requires that all insurers operating in Iran have to reinsure 50.0% of total life and non-life insurance premiums to Bimeh Markazi. If Bimeh Markazi refuses to accept any business, the insurer is free to cede premiums outside the country.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Iranian Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2009-2018
3.2 Reinsurance Growth Dymics and Challenges
3.2.1 Reinsurance segment size, 2009-2018
3.2.2 Reinsurance segment size by type of insurance, 2009-2018
4 Key Insurance Industry Trends and Drivers
4.1 Key Trends
4.2 Life Insurance Growth Drivers
4.3 Non-Life Insurance Growth Drivers
4.4 Persol Accident and Health Insurance Growth Drivers
5 Competitive Landscape and Strategic Insights
5.1 Overview
5.2 Amin Re - Company Overview
5.2.1 Amin Re - key facts
5.3 Asia Insurance Co. - Company Overview
5.3.1 Asia Insurance Co. - key facts
5.4 Parsian Insurance Company - Company Overview
5.4.1 Parsian Insurance Company - key facts
5.5 Iranian Reinsurance Company - Company Overview
5.5.1 Iranian Reinsurance Company - key facts
6 Business Environment and Country Risk
6.1 Business Confidence
6.1.1 Market capitalization trend - Tehran Stock Exchange, Iran
6.2 Economic Performance
6.2.1 GDP at constant prices (US$)
6.2.2 GDP per capita at constant prices (US$)
6.2.3 GDP at current prices (US$)
6.2.4 GDP per capita at current prices (US$)
6.2.5 GDP by key segments
6.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
6.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
6.2.8 Manufacturing net output at current prices (US$)
6.2.9 Manufacturing net output at current prices as a percentage of GDP
6.2.10 Mining, manufacturing and utilities at current prices (US$)
6.2.11 Mining, manufacturing and utilities at current prices as percentage of GDP
6.2.12 Construction net output at current prices (US$)
6.2.13 Construction net output at current prices as a percentage of GDP
6.2.14 Inflation rate
6.2.15 Exports as a percentage of GDP
6.2.16 Imports as a percentage of GDP
6.2.17 Merchandise exports growth
6.2.18 Merchandise imports growth
6.2.19 Annual average exchange rate IRR-US$
6.3 Infrastructure
6.3.1 Total internet subscribers
6.4 Labor Force
6.4.1 Labor force
6.4.2 Unemployment rate
6.5 Demographics
6.5.1 Total population
6.5.2 Urban and rural populations
6.5.3 Age distribution of the total population
7 Appendix
7.1 Methodology
7.2 Contact Timetric
7.3 About Timetric
7.4 Timetric's Services
7.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Iranian Insurance - Gross Written Premium by Segment (IRR Billion), 2009-2013
Table 3: Iranian Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
Table 4: Iranian Insurance - Gross Written Premium by Segment (IRR Billion), 2013-2018
Table 5: Iranian Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
Table 6: Iranian Insurance - Segmentation, Gross Written Premium (% Share), 2009-2018
Table 7: Iranian Insurance - Direct Written Premium by Segment (IRR Billion), 2009-2013
Table 8: Iranian Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
Table 9: Iranian Insurance - Direct Written Premium by Segment (IRR Billion), 2013-2018
Table 10: Iranian Insurance - Direct Written Premium by Segment (US$ Million), 2013-2018
Table 11: Iranian Insurance - Segmentation, Direct Written Premium (% Share), 2009-2018
Table 12: Iranian Reinsurance - Premium Accepted by Category (IRR Billion), 2009-2013
Table 13: Iranian Reinsurance - Premium Accepted by Category (US$ Million), 2009-2013
Table 14: Iranian Reinsurance - Premium Accepted by Category (IRR Billion), 2013-2018
Table 15: Iranian Reinsurance - Premium Accepted by Category (US$ Million), 2013-2018
Table 16: Iranian Reinsurance - Premium Ceded by Type of Insurance (IRR Billion), 2009-2013
Table 17: Iranian Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2009-2013
Table 18: Iranian Reinsurance - Premium Ceded by Type of Insurance (IRR Billion), 2013-2018
Table 19: Iranian Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2013-2018
Table 20: Iranian Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 21: Iranian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 22: Iranian Non-Life Insurance - Percentage of Reinsurance Ceded, 2009-2013
Table 23: Iranian Non-Life Insurance - Percentage of Reinsurance Ceded, 2013-2018
Table 24: Iranian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 25: Iranian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 26: Amin Re, Key Facts
Table 27: Asia Insurance Co., Key Facts
Table 28: Parsian Insurance Company, Key Facts
Table 29: Iranian Reinsurance Company, Key Facts