The variety of medical health insurance insurance policies issued in Iran from April to December elevated by 74% in comparison with the identical interval final 12 months.
The variety of medical health insurance insurance policies issued by Iranian personal insurance coverage firms has elevated considerably this 12 months as a result of rising price of well being providers in Iran.
The variety of medical insurance coverage insurance policies issued by the nation’s insurance coverage firms reached greater than 2.825 million within the 9 months ended December 20, in contrast with the identical interval final 12 months, in line with statistics launched by Iran’s Central Insurance (Bimeh Markazi) on Saturday. It elevated by 74.5% in comparison with the earlier 12 months. .
Domestic insurance coverage firms earned 1,274 trillion rials ($1.57 billion) in medical health insurance premiums within the April-December interval, an 84.2% improve from the identical interval final 12 months, the regulator stated.
The report stated that medical insurance coverage premiums accounted for 39.2% of all premiums generated in Iran’s personal insurance coverage sector within the 9 months ending in late December, together with all insurance coverage premiums issued within the sector throughout the identical interval. He added that solely 7.4% of the cash goes to medical insurance coverage.
The sector’s claims funds rose 62.5% year-on-year to R714 trillion within the April-December interval, accounting for 42.6% of the business’s complete funds.
The development in Iran’s medical health insurance sector comes as the price of medical providers, together with the value of medicines, has elevated within the nation in latest months.
Bime Markazi stated the full variety of insurance coverage insurance policies issued by Iranian insurance coverage firms within the 9 months to the top of December amounted to greater than 59.7 million, a rise of seven% in comparison with the identical interval in 2023.
Total premiums generated by the business reached 3,248 trillion rials (greater than $4 billion) within the April-December interval, a rise of 59.3% year-on-year, it stated.
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