Research and Markets: Iran’s Insurance Sector Continues To Be Dominated By Large State-Owned Companies: Bimeh Iran, Bimeh Asia, Bimeh Alborz and Bimeh Dana says Q1 2010 Report

DUBLIN--(BUSINESS WIRE)-- Research and Markets(http://www.researchandmarkets.com/research/c2237f/iran_insurance_rep) has announced the addition of the "Iran Insurance Report Q1 2010" report to their offering.

The 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 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.

Key Topics Covered:

• Executive Summary
• Table: Overview Of Iran's Insurance Sector
• SWOT Analysis
• Middle East And North Africa Overview
• Islamic Insurance Overview
• Projections And Forecasts
• Table: Premium Growth, 2006-2014
• Projections And Drivers Of Growth
• Table: Growth Drivers, 2007-2014
• Country Update
• Macroeconomic Outlook
• Table: Iran Economic Activity, 2007-2014
• Political Outlook
• Insurance Business Environment Rating
• Table: Iran Insurance Business Environment Indicators
• Table: Middle East And Africa Insurance Business Environment Ratings
• Regional Context
• Table: Non-Life Premiums In A Regional Context, 2008
• Table: Life Premiums In A Regional Context, 2008
• Major Players In Iran's Insurance Sector
• Table: Gross Written Premiums, 2007-2009 (IRRmn)
• Table: Market Structure Type Of Insurance Company By Share Of Gross Premiums, 2004-2009 (%)
• Analysis Of Regional Competitive Conditions
• Table: Listed Middle Eastern Insurance Companies. Net Premiums, Net Profit And Long Term Assets, 2003-2008 (US$mn)
• Local Company Profiles
• Regional Company Profiles
• Country Snapshot: Iran Demographic Data
• Section 1: Population
• Section 2: Education And Healthcare
• Section 3: Labour Market And Spending Power

Companies Mentioned:

• AIG
• Allianz
• Aviva
• AXA
• Bimeh Alborz
• Bimeh Asia
• Bimeh Dana
• Bimeh Iran
• Generali
• HSBC Insurance
• MAPFRE
• RSA
• UNIQA
• Zurich Financial Services

For more information visit http://www.researchandmarkets.com/research/c2237f/iran_insurance_rep.

Research and Markets
Laura Wood, Senior Manager,
[email protected]
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Source: Research and Markets, Ltd.