Iran Insurance Q1 2021
There is significant long-term growth potential in Iran's insurance market, but it will remain untapped while geopoliticaltensions keep the country in a state of economic and diplomatic isolation and paralysis. Our outlook for Iran's insurance sector istherefore bearish over the short-to-medium term. The outbreak of Covid-19 in 2020 led to a third consecutive year of economicrecession, and while we expect the economy to return to growth in 2021, high unemployment and inflation mean that householdsand businesses will continue cutting back on all non-essential purchases, including insurance.
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