گزارش تحلیلی بیزینس مانیتور - صنعت بیمه در ایران - سه ماهه اول 2010
Iran Insurance Report q1 2010 -INCLUDES 5-YEAR FORECASTS TO 2014
Table: Overview Of Iran’s Insurance Sector
Non-Life segment IRR US$ EUR
2008premiums, mn 38,324,167 4,065 2,764
2008-2013premium growth, mn 86,707,331 7,691 6,640
2008-2013CAGR, % 27 % 24% 28%
2008penetration % of GDP 1.1%
Segment measure of openness to new entrants, out of 10 na
BMI segment rating, out of 100 37.5
Life segment
2008premiums, mn 2,270,644 241 164
2008-2013premium growth, mn 1,861,442 148 147
2008-2013CAGR, % 13% 10% 14%
2008penetration, % of GDP 0.1%
Segment measure of openness to new entrants, out of 10 na
BMI segment rating, out of 100 7.5
Total insurance sector
2008premiums, mn 40,594,811 4,306 2,928
2008-2013CAGR, % 26% 23% 27%
2008penetration, % of GDP 1.2%
BMI’s insurance business environment rating, out of 100 35.7
Key Insights On Iran’s Insurance Sector
This report differs from previous reports in several respects. In our analysis of competitive conditions, we provide a much more comprehensive ranking of insurance companies in the major segments from the point of view of the organisation that is providing the data (in practice, almost always the national insurance regulator or the national insurance trade association). For instance, Iran’s insurance sector continues to be dominated by large state-owned companies: Bimeh Iran, Bimeh Asia, Bimeh Alborz and Bimeh Dana, which together hold about 75% of the market share of gross written premiums. Sixteen
private companies account for the remaining 25% market share, including Bimeh Moallem, Bimeh Parsian, Bimeh Karafarin and Bimeh Razi.
In this report, we also provide a breakdown of the insurance sector by line – from the point of view of the regulator or trade association. In Iran in 2008, comprehensive motor insurance (presumably compulsory motor third party liability, CMTPL) was the largest line in the non-life segment – accounting for about half of gross written premiums. Other major lines included motor (CASCO), health, fire and liability insurance
At the time of writing, in January 2010, we have been able to ensure that the report includes actual data for 2008. We have also generally been able to use data that has been published during 2009 to adjust our forecasts for the year as a whole and have extended forecasts to 2014. We expect total premiums in 2009 of IRR50,889,347mn. This includes non-life premiums of IRR48,223,890mn and life premiums of IRR2,665,457mn. In 2014, the corresponding figures are forecast to be IRR156,617,141mn IRR152,045,412mn and IRR4,571,728mn respectively. In terms of the key drivers that underpin our
forecasts, we expect for non-life penetration to rise from 1.30% in 2009 to 1.81% in 2014, and for life density to rise from just under US$4 per capita to over US$5. BMI’s insurance industry Business Environment Rating for Iran is 35.7.
Non-Life segment IRR US$ EUR
2008premiums, mn 38,324,167 4,065 2,764
2008-2013premium growth, mn 86,707,331 7,691 6,640
2008-2013CAGR, % 27 % 24% 28%
2008penetration % of GDP 1.1%
Segment measure of openness to new entrants, out of 10 na
BMI segment rating, out of 100 37.5
Life segment
2008premiums, mn 2,270,644 241 164
2008-2013premium growth, mn 1,861,442 148 147
2008-2013CAGR, % 13% 10% 14%
2008penetration, % of GDP 0.1%
Segment measure of openness to new entrants, out of 10 na
BMI segment rating, out of 100 7.5
Total insurance sector
2008premiums, mn 40,594,811 4,306 2,928
2008-2013CAGR, % 26% 23% 27%
2008penetration, % of GDP 1.2%
BMI’s insurance business environment rating, out of 100 35.7
Key Insights On Iran’s Insurance Sector
This report differs from previous reports in several respects. In our analysis of competitive conditions, we provide a much more comprehensive ranking of insurance companies in the major segments from the point of view of the organisation that is providing the data (in practice, almost always the national insurance regulator or the national insurance trade association). For instance, Iran’s insurance sector continues to be dominated by large state-owned companies: Bimeh Iran, Bimeh Asia, Bimeh Alborz and Bimeh Dana, which together hold about 75% of the market share of gross written premiums. Sixteen
private companies account for the remaining 25% market share, including Bimeh Moallem, Bimeh Parsian, Bimeh Karafarin and Bimeh Razi.
In this report, we also provide a breakdown of the insurance sector by line – from the point of view of the regulator or trade association. In Iran in 2008, comprehensive motor insurance (presumably compulsory motor third party liability, CMTPL) was the largest line in the non-life segment – accounting for about half of gross written premiums. Other major lines included motor (CASCO), health, fire and liability insurance
At the time of writing, in January 2010, we have been able to ensure that the report includes actual data for 2008. We have also generally been able to use data that has been published during 2009 to adjust our forecasts for the year as a whole and have extended forecasts to 2014. We expect total premiums in 2009 of IRR50,889,347mn. This includes non-life premiums of IRR48,223,890mn and life premiums of IRR2,665,457mn. In 2014, the corresponding figures are forecast to be IRR156,617,141mn IRR152,045,412mn and IRR4,571,728mn respectively. In terms of the key drivers that underpin our
forecasts, we expect for non-life penetration to rise from 1.30% in 2009 to 1.81% in 2014, and for life density to rise from just under US$4 per capita to over US$5. BMI’s insurance industry Business Environment Rating for Iran is 35.7.
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