Iran Insurance Industry Forecast

Key Benefits | Executive Summary | Report Coverage | Contents | Competitive Landscape

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Iran Insurance Industry Forecast

The Iran Insurance Report

 

    • Independent 5-year insurance industry forecast for Iran.
    • Original insurance market research and insurance sector trend analysis for Iran’s insurance industry.
    • Competitive intelligence, regional insurance company rankings and SWOT analyses on international and domestic insurance companies in Iran.

The Iran Insurance Report has been researched at source and features latest available data for annual insurance premiums and claims; assets and investments; 5-year insurance industry forecasts for Iran through end-2012; insurance company rankings and competitive landscapes for local insurers and multinational insurance subsidiaries in Iran; and analysis of the latest insurance industry developments, trends and regulatory changes in Iran.

Business Monitor International's Iran Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Iranian insurance industry.

Key Benefits of the Iran Insurance Report

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    • Benchmark BMI’s Independent 5-Year Insurance Industry Forecast on Iran
      to test other views - a key input for successful budgeting and planning in this strategic insurance market.
    • Target Business Opportunities & Risks in Iran's Insurance Sector
      through our reviews of latest insurance industry trends, regulatory changes, and major deals, projects and investments in Iran.
    • Exploit The Latest Competitive Insurance Intelligence & Company SWOTS
      on your competitors and peers in Iran through our insurance company rankings by assets, premiums, income, market share, investments and leading products and services. View a list of BMI's ranked insurance companies for Middle East & Africa.

BMI's Coverage of the Iran Insurance Industry

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Iran Insurance Sector At A Glance

Key insights into the insurance market, covering industry trends, key players and the regulatory environment, plus snapshots of life and non-life premium values in local currency and US$.

Evolution of the Iranian Insurance Market

Analysis of recent developments in the local insurance market, including data on life and non-life premium values, density and penetration, dating from 1998.

BMI 5-Year Industry Forecasts for Iran

Analysis of market growth drivers, including 5-year projections (to end-2011) for premium values. Forecasts section also includes BMI risk ratings on local economy, politics and business environment. Industry indicators covered include:
Number of life and non-life insurance companies; total and per capita Property/Casualty premiums and claims; total and per capita Life/Health premiums and claims; total premium income; total claims/expenses; total operating expenses; total assets and investments; industry density (per capita premiums) and penetration (premiums as a portion of GDP)

BMI 5-Year Macroeconomic Forecast for Iran

BMI forecasts for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.

Insurance Company Rankings in Iran

Comparative company analyses and rankings by premium income (life and non-life). View a list of BMI's ranked insurance companies for Middle East & Africa

Insurance Industry Competitive Landscape in Middle East & Africa

A cross-border overview of key players and their market share across the region. Tables and graphs show country presence of multinationals throughout the region.

BMI's Executive Summary for the Iran Insurance Report

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This report differs from its predecessors in that it includes BMI's Insurance Business Environment Rating (IBER). The rating brings together a number of pieces of relevant quantitative data, together with BMI's Country Risk Rating (CRR). It is now much easier to consider the business environment for the insurance sector in any one country relative to the business environment for other industries in that country that are surveyed by BMI, and the business environment for the insurance sector in other countries.

Iran's IBER is 35.2. Relative to other countries in the Middle East and Africa survey region, it is a rather unattractive insurance market for foreign insurers. Within the region, Iran stands out being effectively closed to foreign insurers due to imposed sanctions. Forecasts suggest that the economy shows signs of slowing in the next year or two. Government policies, although not always beneficial for the health of the economy, are, at least, likely to remain constant over the long term. However, the IBER is held back by the underdevelopment of the life segment and the financial infrastructure. It is also held back by the legal framework and bureaucracy in Iran.

Over the forecast period, we anticipate that non-life premiums will grow by 22% annually in local currency terms and by 20% in US dollar terms. Life premiums are expected to increase by 12% annually in local currency terms and by 10% in US dollar terms. The key drivers of growth in the non-life segment in 2007-2012 are the anticipated rise in nominal GDP from around US$225bn to US$604bn and a near doubling of life density to US$102 per capita by 2012. Overall however, non-life penetration is expected to remain roughly static over the forecast period at approximately 1.3%. The key driver of growth in the life segment is the envisaged rise in life density from a miniscule US$3 per capita in 2007 to US$5 per capita in 2012. Additionally, Iran's growing population will contribute to growth in the life sector. The competitive landscape in Iran is a closed one in which foreign operators are effectively locked out, due to sanctions. At present only one cross border firm is operative, Fortis, servicing the non-life segment.

The strengths of Iran's insurance sector are non-life segment that is starting from a reasonable size base, has good growth prospects and a level of penetration that leaves room for expansion. Meanwhile, the miniscule life sector suggests that opportunity exists for an operator with an attractive life insurance offering.

Key weaknesses making Iran's insurance sector less appealing are political tensions between Iran and the US, elements of the government's economic policy, and factional infighting apparent within the administration.

Contents of the Israel Insurance Report

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Chapter 1 - The Sector At A Glance

Table: Overview Money Amounts In Millions Of Currency Specified

Key Features Of This Report & Likely Future Changes

Chapter 2 - Latest News

Recent Developments

Chapter 3 - Evolution Since The Mid-1990s

Table: Evolution Of The Insurance Sector (In Millions Of Currency Specified)

Evolution

Chapter 4 - Projections And Forecasts

Table: BMI Projections (In Millions Of Currency Specified)

Projections And Drivers Of Growth

Chapter 5 - Macroeconomic Outlook

Table: Economic Activity

Chapter 6 - Country Update

Political Risk - Core Scenario

Economic Risk Core Scenario

Business Environment Core Scenario

Chapter 7 - Analysis of Competitive Conditions

Table: Non-Life Segment Rankings Of Markets

Table: Presence Of Cross-Border Insurers Non-Life

Table: Selected Local Non-Life Insurers

Country Overview Iran - Life Segment

Table: Life Segment Rankings Of Markets

Table: Presence Of Cross-Border Insurers Life

Table: Selected Local Life Insurers

Whos Who In The Middle East And Africa Region?

Chapter 8 - Regional Context

Table: Regional Context - Premiums

Table: Regional Context Total Premiums

Chapter 9 - Methodology And Objectives

Introduction

Background

Forecasts

Chapter 10 - Appendix

Table: Latest Estimates/Actual Figures For 2005

Table: Latest Estimates For 2010

Table: Latest Estimates For 2005-2010

Competitive Landscape for The Middle East and Africa Insurance
    Reports: Sample of Companies Ranked

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A cross-border overview of key players and their insurance market share across the Middle East and Africa. Tables and graphs show country presence of multinationals across the region. Comparative company analyses and rankings by premium income (life and non-life). Company SWOTS for leading life and non-life insurers, covering network of offices, presence of foreign stakeholders, strategic relationships, joint ventures; portfolio of clients; diversity of product range; profit growth, investment strategy and risk exposure.

Network of Insurance Sources

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BMI's Middle Eastern and African Insurance Reports are based on an extensive network of multilateral organisations, government departments, insurance industry associations, chambers of commerce and company reports. Information sources include:

Read about our other Insurance Reports  

Asia

Australia, China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam

Europe

Bulgaria, Croatia, Czech Republic, Estonia, Germany, Greece, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, UK, Ukraine

Middle East and Africa

Bahrain, Egypt, Iran, Israel, Jordan & Lebanon, Kuwait, Nigeria, North Africa, Oman, Qatar, Saudi Arabia, South Africa, Turkey, UAE

The Americas

Argentina, Bermuda, Brazil, Caribbean, Mexico

 

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