Capital Increase Deadline  for Insurers
Economy, Business And Markets

Capital Increase Deadline for Insurers

Beleaguered insurance companies have only until the end of the current fiscal year (March 20, 2018) to meet the new minimum capital requirements set by the Cabinet, announced the head of the Central Insurance of Iran.”We did what we could to reduce the capital requirement of insurance companies and the companies in need of capital increase have only 11 months left. If they fail to comply, they must consider merging or reducing the scope of their work,” Abdolnasser Hemmati was quoted as saying by Banker.ir. Based on the lowered minimum capital requirements approved by the government in mid-February, the license of general insurance firms will be granted to entities with an initial capital asset of 1.5 trillion rials ($40 million) and reinsurance firms will require an initial capital of 2.5 trillion rials ($66.6 million). 

Short URL : https://goo.gl/GLp38E
  1. https://goo.gl/d3vGQi
  • https://goo.gl/1fYyjn
  • https://goo.gl/VgZJv3
  • https://goo.gl/WIeUCI
  • https://goo.gl/n3pzj7

You can also read ...

Forex Rates Jump After Gov’t Stops Cheap Currency Allocation
Foreign exchange rates in the unofficial market registered...
Int’l Airlines’ Presence in Iran Boosted After JCPOA
A total of 51 foreign airlines are now operating in Iran, up...
Facebook Lures Google Engineer to Head Its Own Chip Development
Facebook Inc. has sent another signal that it is serious about...
US Confiscates 500 Iranian Bitcoins
The US federal government confiscated at least 500 Bitcoins...
Export Billet Prices Increase on Reduced Availability
Iranian export billet prices increased by $5-10 per ton over...
New MacBook Features Dust-Repelling Keyboard
Apple’s new MacBook Pro keyboards are slightly quieter than...
Platform to Promote FATA-IFA Interactions
A new platform has been launched to facilitate interactions...
Tehran to Host Startup Week
Attended by fintechs and startups, Tehran is to host a week-...

Add new comment

Read our comment policy before posting your viewpoints