Middle East News - Iran: Reinsurer seeks rating after sanctions removal
Source: Middle East Insurance Review | Mar 2016
Iranian Reinsurance Company is working to obtain an international credit rating and has held discussions with two rating agencies for this purpose, reported Reuters.
Mr Mohammad Asoudeh, Vice Chairman and Managing Director of Iranian Reinsurance, said: “Because of sanctions they couldn’t price it, so this is first in our agenda. Several insurance companies in Iran are also waiting to be rated.”
While Iran has 27 direct insurance companies and two reinsurance firms, most established in the last 10 years, they lack international credit ratings because they had been shut out of markets due to the sanctions.