New Market Research Report: Iran Insurance Report Q2 2016

While still at an early stage, Iran's growing rapprochement with the international community is likely to lead to increasing opportunities for overseas insurers and investors over the coming years. Although the Iranian insurance market is relatively developed by regional standards, there is still significant potential for growth, especially in the life segment and most non-compulsory non-life lines. The lifting of trade sanctions should spur the growth of the economy which will lead to significant growth in income levels. Foreign firms will be looking to target these high - income households while also for looking for opportunities in other areas of the economy, not least the country's sizeable energy sector.

Full Report Details at
- http://www.fastmr.com/prod/1119024_iran_insurance_report_q2_2016.aspx?afid=301

Key Updates A nd Forecasts

Ongoing currency market fluctuations and uncertainty surrounding the lifting of Iranian trade sanctions have led to a marginal downgrade of our short-term insurance growth forecasts this quarter. We expect life insurance premiums to grow by 2.1% y-o-y during 2016 in USD terms, while non-life premiums will contract by 0.4%. Both markets will expand at double-digit rates in local currency terms.

Iran's gradual reintegration into the international community is nevertheless leading the country's insurers to increasingly expand their reach overseas. In December 2015, Iran Insurance was reportedly in negotiation with Iraqi state insurance companies al Araqiyya and al Badiyyah with a view to strengthening cooperation between the companies. In the same month, Iran's government participated in a Joint Commission Meeting (JCM) in India, which will see India and Iran pursue trade and investment agreements across a number of industries, including insurance and banking.

At the same time, there is evidence that international insurers will use the easing of sanctions on Iran to penetrate the country's insurance market. Reuters reports that eight out of 11 major insurers perceive the Iranian market as an attractive growth opportunity, with a number of these insurers aiming to enter the market as early as 2016.

The Iran Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI'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

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Singapore Insurance Report Q2 2016
- Australia Insurance Report Q2 2016
- Hungary Insurance Report Q2 2016
- Turkey Insurance Report Q2 2016
- Czech Republic Insurance Report Q2 2016