central insurance agency, known as Bimeh Markazi, said global reinsurance
companies will continue to share risks that could befall major Iranian
businesses and industries despite sanctions imposed by the United States.
“We will continue cooperating with
foreign companies while those reinsurers that have no ties to Americans are
cooperating with Iranian (insurance) companies,” said Bimeh Markazi’s chief
Gholamreza Soleimani on Thursday.
Soleimani told ILNA that reinsurance
rates considered for industrial losses in Iran, including those related to the
massive oil and gas industry, are akin to rates introduced in regional and
He said some major claims for risk
coverage in the Iranian reinsurance sector were between $100 million to $1
The official did not elaborate but
said that an Iranian reinsurance group, which he said was comprised of major
insurance companies, had underwritten and administered major risks related to
airlines, shipping companies and oil refineries.
“Reinsurers are active in Iran as it
is the case for all insurance companies at the global level,” he said. “Iranian
reinsurance deals are administered and applied through the same global standard.”
Soleimani said Iran had remained a
major contributor to the Asian Reinsurance Corporation for the past years in a
bid to create further protection for major Iranian businesses.