Iran

Axco provides details on the life insurance sector including Iranian market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

The report describes the public and private healthcare system in Iran, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Axco reports on the three pillars of Iran pension provision.

• State pension benefits including benefit calculations and eligibility criteria 
• Workplace pension provision; types of schemes calculations eligibility and; tax implications
• Voluntary individual pension provision, type of products and tax implications

The Iran report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

• state pensions,
• permanent disability benefit
• occupational accident and disease
• maternity and paternity payments 

Iran's overall economy and its financial sector have been affected by its strained international relations over the last few years. Starting 2010 the UN, US and EU imposed a range of sanctions, including restrictions on (re)insurance activities. The supply of (re)insurance capacity from the European and US markets to Iran was significantly cut in 2011, effectively terminated in 2012. In late November 2013 Iran agreed to freeze portions of its nuclear development programme in return for alleviation of some of the sanctions imposed and negotiations continued.

A small number of state-owned enterprises have company pension schemes, all of which appear to be privately-administered; most companies rely upon the state pension to provide for their retired employees.

Bimeh Iran is one of the few state companies to have its own pension scheme: it has not been possible to obtain any details of how the scheme functions.

In October 1994 the government passed Public Medical Service Insurance Act setting up a state Medical Services Insurance Organization (MSIO) to take over the health financing responsibilities of the Ministry of Health and Medical Education (MOHME). The law also obliged the insurance companies to underwrite PMI, apparently under the same terms and conditions as MSIO. The idea was to encourage companies and government organisations to transfer their medical costs from the state to the insurance sector, thus liberating resources for improved ....