BMI Industry View

BMI View: 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.