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Call for Privatizing Insurance Entity

Call for Privatizing Insurance EntityCall for Privatizing Insurance Entity

The Iran Chamber of Commerce, Industries, Mines and Agriculture has announced its readiness to steer Iran Insurers Syndicate to increase the share of private businesses in an industry suffering from government control. Gholamhossein Shafei made the announcement in a recent specialized commission of the chamber, the official news portal of ICCIMA reported. During the meeting, the private sector body also released a report indicating that state-owned insurers controlled 70% of Iran’s insurance industry in a five-year period ending March 20, 2017. Private sector figures attending the meeting proposed increasing the role of regulatory activity, improving conformity to International Financial Standards and boosting competitiveness to save the ailing industry.

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