Economy, Business And Markets

French Insurer Opens Tehran Office

French Insurer Opens Tehran OfficeFrench Insurer Opens Tehran Office

Nasco Karaoglan France (NKF) – a provider of insurance and reinsurance services for emerging markets – has opened an office in Tehran, marking a new chapter with the presence of European agencies in Iran after years of sanctions which had banned foreign firms’ from dealing with Iranians.

The French insurance company this week hosted a number of insurance specialists from the Iranian private sector, the public relations of the Central Insurance of Iran announced on Wednesday.

Iran’s insurance industry has been in transition in recent years, according to Gabriel Bejjani, the president of NKF, who was speaking at the meeting.

“Having turned into a competitive industry, the insurance sector will find its rightful place in the capital market soon,” he added.

Interaction between Iranian insurance firms and credited international companies can pave the ground for the entrance of Iran’s insurers into global markets, he noted, adding that “getting a certificate from the Central Insurance Organization for establishing an office in Iran is the first step for foreign firms in creating trust.”

The business environment is improving in Iran, he said, predicting that more foreign companies will open offices in Tehran in the coming years.

NKF has established its office in Tehran to conduct market assessment and start interacting with local companies.