11430
IIC Set to Take Over Peer Company
Economy, Business And Markets

IIC Set to Take Over Peer Company

Iran Insurance Company (IIC) is set to take over another peer company, Tose’e Insurance Company (TIC), the Supreme Council of Insurance announced on Tuesday.
The work permit of TIC has now been nullified following the decision by the SCI.
Consequently, the company’s work permit for vehicle insurances (including third-party insurance, collision coverage, and personal injury protection) and life insurance have been revoked, ILNA reported.
Earlier in the year, a legal case was filed against the company, which has been struggling with numerous problems, the report said without giving any more specifics on the issue.
The company has been banned from doing insurance activities since January 21.
Central Insurance public affairs has now announced that with the approval of Central Insurance’s General Assembly, the Supreme Council of Insurance and the administration all past records of the TIC will be signed over to the state-owned IIC, which is expected to gradually compensate TIC’s past losses and cover any of its possible future loss.

 

 

Short URL : http://goo.gl/bWBHfE

You can also read ...

Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Deputy Economy Minister Defends Gov’t Forex Policy
The government’s policy to allocate dollars and euros to...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Hashtgerd Subway Station Construction Underway
Iranian authorities are pushing ahead with construction plans...
Interbank Rate Tweak to Impact Interest Rates
Officials at the Central Bank of Iran have announced the...

Trending

Googleplus