Reinsurance News
Central Insurance of Iran
Iran approves fifth reinsurance firm for launch
2nd March 2021
Iranian regulators have approved the launch of Tehran Reinsurance Company, according to reports from The Financial Tribune. It marks the fifth reinsurance company to be established in Iran, and the third to be founded within the last 12 months. There have been question marks over the Iranian re/insurance industry since the US ... Read the full article
Iran continues to work with foreign reinsurers amid U.S. sanctions: Reports
10th February 2020
In spite of sanctions imposed by the U.S., Iran's Central Insurance Agency, Bimeh Markazi, has reportedly said that global reinsurers will continue to share risks that pose a threat to Iranian businesses and industries. The Governor of Bimeh Markazi, Gholamreza Soleimani, told local news site ILNA that foreign reinsurers that are ... Read the full article
Iranian regulator announces latest risk retentions and reinsurance caps
9th July 2018
The Central Insurance of Iran (CII), the Iranian re/insurance industry regulator and reinsurer, has revealed the latest risk retentions and inward reinsurance capacity allowed for insurance companies in Iran, according to the Financial Tribune. In addition to the CII, only six insurers out of a total of 30 in Iran are ... Read the full article
IranianRe in negotiations with SCOR, PartnerRe & Nasco Insurance
13th December 2017
IranianRe leadership has met key executives at SCOR, PartnerRe, and Nasco Insurance Group to negotiate potential partnerships, as Iran's biggest reinsurer follows a strategy of transferring risk to foreign reinsurers, according to the Financial Tribune. IranianRe Chief Executive Officer (CEO) and Deputy Chairman of the Board, Seyyed Mohammad Asoudeh, said ... Read the full article
SCOR reaches excess of loss reinsurance agreement with Iran’s Mellat Insurance
24th October 2017
France domiciled reinsurer, SCOR, has reached an agreement with Iranian insurer, Mellat Insurance, an affiliation of Bank Mellat, to provide the company with excess of loss reinsurance protection, according to reports. According to reports on Iranian online publication, Financial Tribune, SCOR will cover catastrophe losses related to Mellat Insurance's fire policies, ... Read the full article
SCOR enters into catastrophe reinsurance agreement for Iran
2nd October 2017
Global reinsurer SCOR has reached an agreement with the Central Insurance of Iran (CII) to provide catastrophe excess of loss reinsurance protection in the country, a move that supports the development of the country's insurance and reinsurance industry. Since the lifting of sanctions in Iran in January, 2016, the CII has ... Read the full article
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