BMI View: We hold a positive outlook for Iran's developing insurance market. Gradual reintroduction into the global economy will boost growth across a range of financial and manufacturing sectors over the course of the forecast period through to 2020, driving demand for various non-life products on both a group and individual basis. While basic lines such as motor and health will continue to dominate, we do expect to see developments in smaller lines such as property, transport and personal accident insurance as the market matures and diversifies. The small life insurance market is also expected to grow, as household income rates rise and demographic trends stimulate demand. The relaxation of sanctions on Iran is likely to entice more foreign insurers to the market over the next few years, who will face strong competition from entrenched domestic providers in a fragmented marketplace.