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Iran Insurance Report Q3 2009
Business Monitor International, July 2009, Pages: 91
Iran Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Iran's insurance industry.
This report was written in late May 2009. Relative to the Q209 report, the main changes pertain to the profiles of companies – both regional and predominantly local – which have been updated considerably.
We have also included a brief overview of conditions – and development of premium income – through Q109. This is based on comments made by major (mainly listed) companies which became available (for the most part) from mid-May. We hope to build on this section in terms of detail.
As we explain, Q109 was in many ways a challenging but far from disastrous quarter for the major protagonists in most markets. Notwithstanding the fact that particular non-life markets suffered as a result of a slump in the number of cars registered, and correspondingly lower demand for compulsory third party motor (CTPM) insurance and voluntary motor insurance, global non-life premiums generally held up well in spite of the global economic downturn. In contrast, life premiums were, in most markets, lower in Q109 than they had been in Q108. This was largely the result of the past volatility in global equity markets, although there were also other problems. Conditions remain fair in the global reinsurance market.
In terms of the major regions whose insurance markets are covered by BMI’s reports, Latin America and the Middle East and North Africa stood out in terms of growth in premiums (in non-life insurance in particular, but also in life insurance). Conditions were far more mixed in Central and Eastern Europe (particularly in non-life insurance, where the downturn in car registrations hit hard) and Asia Pacific (where various factors caused slippage in life premiums in many markets).
Revision Of Data And Forecasts
We have updated the insurance data for 2008 – and our forecasts for the next five years. In many cases, preliminary or final figures for last year have been published by the regulator or the trade association. In some cases, we have estimated figures for 2008, but on the basis of information that has been published in relation to a significant portion of the year. In some cases though, we have based our 2008 estimate on results disclosed by individual companies operating in the market in question.
The Sector At A Glance
Table: Overview Of Iran’s Insurance Sector
Key Insights On Iran’s Insurance Sector
Iran Insurance Industry SWOT
Iran Political SWOT
Iran Economic SWOT
Iran Business Environment SWOT
Global Review Of Q109
The Global Financial Crisis
Table: Selected European Countries: Budget And Current Account, 2008 (as % of GDP)
Projections And Forecasts
Table: Insurance Data And Projections, 2006-2013
Projections And Drivers Of Growth
Table: Growth Drivers, 2006-2013
Islamic Insurance Overview
Table: Iran – Economic Activity, 2006-2013
Insurance Business Environment Rating
Table: Iran – Insurance Business Environment Indicators
Table: Middle East And Africa – Insurance Business Environment Rankings
Table: Non-Life Premiums In A Regional Context, 2008
Table: Life Premiums In A Regional Context, 2008
Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006
Major Players In Iran’s Insurance Sector
Analysis Of Competitive Conditions
Total: Overview Of Local Insurance Companies In The UAE, 2006 And 2007 (US$mn)
Table: Overview Of Local Insurance Companies In Kuwait, 2006 And 2007 (US$mn)
Local Company Profiles
Regional Company Profiles
Basis Of Projections
Insurance Business Environment Rating
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators
- HSBC Insurance
- Liberty Mutual
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