Insurance Regulator Says Rewriting Licensing Policy

The Central Insurance company of Iran (CII), the industry’s regulator, is concentrating on promoting specialized insurance companies. 
Speaking to board members of Iran Insurers' Syndicate, Majid Behzadpour, the CII chief, said it has prioritized licensing only specialized and reinsurance companies, in line with the Economy Ministry's recommendation to the key sector to revise licensing policy.
Promoting specialized insurance firms, mostly life insurance, has long been a goal of the CII. Policymakers are trying to shift insurance company focus from third-party auto insurance sector to more sustainable insurance categories,, namely the life insurance segment.