New Insurance market report from Timetric: "Reinsurance in Iran, Key Trends and Opportunities to 2017"

Boston, MA -- (SBWire) -- 10/11/2013 --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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Key Highlights

- The Iranian reinsurance segment is driven by Article 71 of the Law, establishing Bimeh Markazi and forcing insurers to cede a minimum percentage of their premium
- The Iranian reinsurance segment's value grew at a CAGR of 30.2% during the review period
- In terms of gross written premiums, facultative reinsurance held the largest proportion of the Iranian reinsurance segment with a 53.5% share
- Multinational reinsurers are required to have a minimum capital of IRR85 billion (US$8.1 million) in free trade zones

Scope

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

- It provides historical values for Iran's reinsurance 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 reinsurance market, along with market forecasts until 2017
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in Iran and its growth prospects

Reasons to Get This Report

- Make strategic business decisions using historic and forecast market data related to the Iranian reinsurance market and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Iranian reinsurance market
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Iranian insurance market and its impact on companies and the market's future

Companies Mentioned in this Report: Amin Re, Asia Insurance Co., Parsian Insurance Company

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