Economy, Business And Markets

Tehran, Muscat Sign Insurance Deal

Tehran, Muscat Sign Insurance DealTehran, Muscat Sign Insurance Deal

Central Insurance of Iran and Oman’s Ministry of Industry and Trade signed a deal on Tuesday to expand collaboration in the fields of insurance, reinsurance, training and exchange of knowhow.

Abdolnasser Hemmati, the head of CII, said Iran is ready to help the neighboring country meet its insurance needs.

“Currently, 30 Iranian insurance firms are operating in the market. They are capable of offering specific coverage and insurance policies for Oman,” Risk News website quoted him as saying on the sidelines of the 16th meeting of Iran-Oman Economic Commission in Tehran.

Omani Minister of Industry and Trade Ali Bin Masoud Al-Sunaidy also urged the CII chief to help boost ties in auto and tourism insurance.

The five-year agreement also includes close collaboration of Iran and Oman in marine, oil and gas categories as well as support for joint investments in the energy sector.

Officials from Iran Insurance Company, CII and Oman’s insurance regulator were also set to hold a meeting on Wednesday to discuss reinsurance ties.