33946
Gaping Hole
Economy, Business And Markets

Gaping Hole

Central Insurance company of Iran is looking at the status of third-party vehicle insurance performance over the past five years and the primary results indicate a gaping hole, said Mohammad Ibrahim Amin, the CII president. He added that insurance companies incorporate their unsettled dues in their financial statements to cook their books, which endangers their future as the difference is compensated by shareholders, Risknews website quoted him as saying on Sunday. Iran Khodro, for instance, owes insurance firms a total of 7-8 trillion rials ($232-$265 million at the official exchange rate), according to the top insurer. He added that as the regulatory body of insurance industry, the CII has to cajole insurers to balance their reserves and reflect genuine figures  in their financial statements.

 

Short URL : http://goo.gl/THSX6I
  1. http://goo.gl/zc0hA0
  • http://goo.gl/U0sDmB
  • http://goo.gl/I19tTE
  • http://goo.gl/lKX6Bx
  • http://goo.gl/PbhM3q

You can also read ...

BMW’s Tech-Stuffed Concept SUV Heralds Fancy, Electric Future
Changing notions of what customers want from cars have pushed...
Tesla Hits New Speed Bump
Tesla Inc’s Chief Executive Officer Elon Musk on Sunday...
Oil & Gas Sector Most Conducive for Business
The research arm of Iran’s Parliament has conducted a first-of...
3 CBI Officials  to Leave
Following the recent passage of the law banning the employment...
CBA Concerned About Forex Outflow to Iran
The Central Bank of Afghanistan raised concerns about the...
Anzali Port to Be Connected to National Railroad
Anzali Port in the northern Gilan Province will be connected,...
Mineral Trade Surplus Hits $2.9b
Iran exported more than 25.47 million tons of mineral products...
Departure Tax Revenues  Up 117 Percent
The government earned 3 trillion rials ($24 million) from...

Trending

Googleplus