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Risk Retention, Reinsurance Caps Announced

Risk Retention, Reinsurance Caps AnnouncedRisk Retention, Reinsurance Caps Announced

The Central Insurance of Iran has announced the latest risk retention and inward reinsurance capacity allowed for insurance companies. According to data published by the industry’s regulator on its website, the major state-owned Iran Insurance Company is ranked first in terms of risk retention capacity at 17.75 trillion rials ($398 million) and Alborz and Asia insurance companies are next with a respective 2.71 trillion rials ($60.62 million) and 2.47 trillion rials ($55.25 million). In addition to the two specialized Amin Re and Iranian Re, only four insurance companies, namely Iran, Pasargad, Mellat and Iran Moein, are allowed to accept reinsurance. The state-run Iran Insurance Company is once again at the top with a capacity of equal to 8.88 trillion rials ($199 million).

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