Reinsurance News

Munich Re reinsures life portfolio for Iranian insurer Mellat

1st May 2018 - Author: Steve Evans

Global reinsurance player Munich Re has entered into an agreement with Iranian insurer Mellat Insurance Company, which will see the German reinsurer covering the entire life insurance portfolio of Mellat.

Munich Re logo on a signMellat said that it has covered all of the issued life insurance policies under the agreement with Munich Re, as part of its mission to enhance its financial strength and protect its policyholders.

The Iranian insurer, which is aligned with the country’s Bank Mellat, has also entered into reinsurance agreements in the past with international reinsurers as a way to reduce its risks and boost its financial standing.

For smaller insurers operating in emerging economies it is vital to have access to reinsurance capacity, in order to offset the risks they are assuming and maintain solvency strength.

The Iranian insurance market has only opened up to international reinsurers in recent years and Mellat has taken advantage of this, entering into an excess of loss reinsurance agreement with SCOR last year.


Iran’s Saman Insurance became the first insurer in the country to purchase life reinsurance from a foreign player after the removal of international sanctions in 2016, signing a deal with Munich Re in 2017.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Breckenridge promotes Rinehart to Director of P&C operations

Breckenridge Insurance Services, a U.S wholesale commercial re/insurance brokerage firm, has appointed Alex Rinehart as Director of its Property and...