Time for Gov’t to Part Ways With Insurance Sector

Economy Minister Farhad Dejpasand says the insurance industry has come of age and can be fully managed by the private sector. 
Speaking at an insurance event Wednesday, Dejpasand said all insurance companies can be divested to private sector after a transitional period, adding that Iran’s insurance sector is now able to cover risks worth $500 billion. 
“Except for the Central Insurance company of Iran, which is the regulatory body of the industry, the remaining can be reassigned,” he told a gathering at the iconic Milad Tower in north Tehran. 
Dispensing insurance companies to private ownership will be a major step in the right direction and help growth across sectors, he said.