Abdolnaser Hamidi,Head of Central Insurance, stated that insurance penetration rate has grown well since 2 weeks ago and during the last 24 hours it increased to 2.2% from 0.33 percent, indicating the insurance industry has a high capacity.
He emphasized that in the first 8 months of the current year, insurance industry experienced a good growth and there was a balance between compensation growth and premium growth, heralding the insurance industry managers take the risk management process seriously.
Hamidi referred to the approval of corporate sovereignty new regulations in Supreme Council of Insurance, adding that insurance companies take effective systems for risk management and internal controls seriously.
The official mentioned that one of the achievements in insurance industry in recent years is specialising insurance firms and moving toward separating life insurances from non-life insurances.
Head of Central Insurance said gaining reinsurances in disastrous events is another success for insurance industry in recent years, going on to say that following some intensive negotiations with foreign insurance companies in post-sanction era which have been done, remarkable percentage of disastrous risks have acquired reinsurance coverage in the current year and their risk has been transferred abroad.
"In the previous year, insurance industry made 735 billion tomans as profit and except tax we paid over 1000 billion tomans as duty and if we didn't pay for duty, the insurance industry's profit were 1750 billion tomans", he said.
Abdolnaser Hamidi made the remark that, insurance industry grew 20 percent in the first 8 months of the current year, while other industries were not able to attain such a figure.
