Capital Intelligence, the international credit rating agency, has
released its key report on the Iranian insurance market, reviewing the
latest development in the wake of the US unilateral move to exit the
Iran nuclear agreement last month.
Although CI considers it the latest blow to the Joint Comprehensive
Plan of Action–as the 2015 agreement between Iran and world powers is
formally known–as an underlying negative point for Iran's economy
overall, it does not see a wider fallout for the insurance sector.
Explaining the key points of the report, Wolfgang Rief, the senior
credit analyst who co-authored the report, said in an exclusive
interview with Financial Tribune that the upcoming US sanctions for
Iran's insurance industry will have little impact both because of the
limited exposure of insurers to foreign business and the experience of
previous sanctions that have made the firms more adept at managing them.