Sanctions Unlikely to Impact Iran’s Reinsurance Deals

Iran’s reinsurance deals with foreign counterparts are not in danger of being revoked when US sanctions snap back in a maximum of six months, the chief executive of Iranian Reinsurance Company said.
“Not many deals were signed with foreign counterparts during the past two-and-a-half years and the number of deals that were signed are not so high that foreign companies would want to cancel them,” Seyyed Mohammad Asoudeh also told IBENA.
When US President Donald Trump recently announced that he is withdrawing from the Joint Comprehensive Plan of Action, the formal name of Iran’s nuclear deal with world powers, he also cast doubt over Iran’s new reinsurance deals with foreign counterparts as he did with other international ties of the country.