SCOR eyes Iranian market

French reinsurance company SCOR is interested in making an entry into the Iranian market, Mehr news agency has reported.

Chief executive of SCOR, Victor Peignet at a meeting with Abdolnaser Hemmati, head of Central Insurance of Iran (CII), the industry’s regulator in Tehran underlined his company’s interest for insurance cooperation with Iranian counterparts.

He expressed hope that SCOR will develop its ties with Iranian insurance companies within coordination with the CII.

Hemmati underlined necessity of implementing the viewpoints of the CII within the framework of the Joint Comprehensive Plan of Action (JCPOA) in reinsurance contracts and removing the restrictive conditions for certain Iranian companies for boosting mutual ties in insurance sector.

He added that the restrictive conditions are related to maintenance of sanctions against some Iranian companies.

SCOR reinsurance company provides its clients with Property and Casualty (P&C) and Life reinsurance solutions.

The CII has held talks with more than 140 foreign insurance and reinsurance companies that sought to enter the Iranian market since the lifting of the sanctions in January 2016.

German, British, Swiss, French and Japanese insurance and reinsurance firms have been among the most interested players to gain a foothold in the Iranian insurance sector post-sanctions.