Despite risks associated with the country's air fleet, aircraft
insurance coverage registered the lowest (18%) loss ratio in the
industry' portfolio, allowing insurers to profit larger amounts from the
premiums.
Central Insurance company of Iran data show that insurers generated
2.78 trillion rials ($21 million) from plane insurance policies during
the fiscal year that ended in March 2019 -- up 44% compared to the year
before.
Payouts by the insurance firms in this category totaled 665 billion
rials ($5.1 million). The 40% growth in their paid losses is hardly a
surprise given the age of the national air fleet, and the fact that new
planes cannot be bought due to the US restrictions.