Iran Reinsurance Deals Tied to Money Transfer

When US President Donald Trump announced the reimposition of strongest sanctions against Iran on May 8, he also cast doubt over the survival of the country’s reinsurance deals with European counterparts.
According to the secretary-general of Iran’s Insurers Syndicate, the deals may hopefully survive, but this would hinge on whether Iran and its partner will be able to transfer money to pay premiums and receive coverage.
“The continuity of these deals depends on the possibility of transferring foreign currencies,” Seyyed Mohammad Alipour Yazdi also told IBENA.