BMI View: This quarter, we maintain a fairly dismal view of the prospects for Iran's insurance sector. The partial easing of economic sanctions against Iran in early 2016 does not appear to have had a significant impact on Iran's insurance sector. The various challenges that have constrained the development of the life segment (high inflation and low household incomes) and the non-life segment (lack of access by insurers to capital, reinsurance and know-how from outside the country) remain in place. Penetration (premiums as a percentage of GDP) will likely remain at a low level in both major segments. Although discussion around changes in the regulations restricting foreign players entering the market might benefit the industry, there have yet to be any material changes in this respect.