78115
CII Notifies Reinsurance Directive
Economy, Business And Markets

CII Notifies Reinsurance Directive

As part of projections made in the Sixth Five-Year Development Plan (2017-22), which calls for gradually reducing the percentage of premiums that Iranian insurance firms are obligated to entrust to the Central Insurance of Iran for the purpose of reinsurance, the director of the industry’s regulator sent a letter to all insurers to notify this directive. According to the letter sent by Abdolnasser Hemmati to all insurance companies, the compulsory reinsurance share of insurance companies for non-life categories, which currently stands at 14% will reduce by 1% annually until it reaches 10% in 2022. This is while the compulsory reinsurance share of life categories will decline from the current 24% to 20% during the next four years, IBENA reported. In late February, the Cabinet convened and decided that the cap on compulsory reinsurance cession should remain unchanged for the remainder of the current fiscal year (ending March 2018).
 

 

Short URL : https://goo.gl/CJZY7a
  1. https://goo.gl/eCrKES
  • https://goo.gl/FmYqAS
  • https://goo.gl/Qzx6NH
  • https://goo.gl/7yqdfh
  • https://goo.gl/uC3etB

You can also read ...

Big Benefits of a German ‘Iran Bank’
Since US President Donald Trump pulled out of the nuclear...
Islamic Bonds Worth $25m Issued for  Locomotive Manufacturing
Some 1.05 trillion rials ($25 million) worth of Islamic bonds...
Audi Names New Leader After CEO Arrested
Audi has tapped its top sales executive to lead the company...
Structural Reforms in Banks  to Help Ensure Fiscal Stability
The second and final day of the Conference on Monetary and...
Hyundai Elantra
After local media reported that the South Korean carmaker...
Two-Month Auto Parts Import Bill: $468m
Iran’s auto parts import bill for the first two months of the...
IRIR Unveils Suburban Rail Expansion Plans
The Islamic Republic of Iran Railways plans to expand suburban...
Kerman to Host 2 Int’l Mining Expos Next Week
The Sixth International Exhibition of Mining, Mineral...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus