The insurance industry’s profit amounted to 45 trillion rials ($346 million) in the current fiscal year (started March 2019), president of the Central Insurance company of Iran said, adding that agents and brokers had a big share of the gains.
“Sales (by agents) accounted for nearly 30 trillion rials ($230 million). We need to act in a way that ensures the share of agents is transparent,” Gholamreza Soleymani was quoted as saying during a visit to the CII Investigation and Anti-Money Laundering Department.
The number of insurance agents registered an annual growth of 17% to reach close to 64,000 by March 2019, according to the CII. The total number of branches of insurance firms across the country reached 1,258 by March 2019 – up 6% compared to the year before.
The total number of brokers increased by 35% and reached 834 by the end of the previous year.
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