Two local insurance companies, namely Amin Re and Mellat Insurance, have received regulatory permission to issue reinsurance bonds for the first time in Iran.
According to a press release seen on the Central insurance company of Iran (CII) website, the decision has been approved by the CII executive board and Security and Exchange Organization (SEO) to transfer risks to capital market.
As per the plan, Mellat will offer 1 trillion rials ($2.46 million) in reinsurance bonds and Amin Re 12 trillion rials ($29.55).
January 07, 2023 19:55
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2 Companies to Issue Reinsurance Bonds
ILS are typically tied to natural disasters such as earthquakes and offer high yields; investors can lose the principal if a catastrophe unleashes a major loss
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