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Iran Insurer Enters India Market
Economy, Business And Markets

Iran Insurer Enters India Market

The Insurance Regulatory and Development Authority of India (IRDAI) has granted approval to 23 cross border reinsurers for the year 2016-17 including Iran Insurance Company, IRDAI announced in a press release on its website. Cross-border reinsurers are classed as those who do not have a physical presence in India but carry on reinsurance business with Indian insurance companies. Iran Insurance Company, established in 1910, is the only state-owned insurance firm in the country.

 

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