Lloyd's to open branches in Iran

Lloyd's to open branches in Iran ...
presstv.ir 20/11/2016 Economy

Keywords:#CEO, #Coface, #European, #France, #Germany, #Hermes, #IRNA, #Insurance, #Iran, #Iranian, #Islamic, #Islamic_Republic, #Italy, #January, #Lloyd, #London, #Presstv.ir, #Reuters, #SACE, #Tehran, #Zurich

The Lloyd's of London insurance market says it is negotiating with to open branches in the country’s free trade zones.

* * * The Lloyd's of London insurance market has announced plans to launch offices in Iran – a move that could help the country’s efforts to open its economy to post-sanctions investments.
Inga Beale, the CEO of the world's leading specialty insurer, was quoted by Iran’s domestic media as saying that Lloyd's of London would establish branches in Iran’s free trade zones.
To the same effect, two Lloyd's directors will soon travel to Tehran to discuss the technicalities for this, Beale was quoted as saying by Iran’s state news agency IRNA. She made the remarks in a meeting with Abdolnasser Hemmati, the head of Iran’s Central Insurance Company, during a visit to London on Friday.
Beale further added that Lloyd's syndicates are interested in returning to the Iranian market. She further stressed that it is important for Iran to remove the problems that obstruct the transfer of money in the insurance industry.
Hemmati, for his part, said the presence of insurance giants like Lloyd’s in Iran is important for the country.
Following the removal of sanctions against Iran in January, indications appeared to show that global insurers were looking into the prospects of penetrating into a market whose worth is estimated to be around $7.4 billion in premiums.
According, European majors including Allianz, Zurich Insurance, Hannover Re and RSA were the first to announce that they would evaluate potential opportunities in the country specifically in its marine, aviation, power generation and energy sectors.
Nevertheless, the only companies that have already taken steps to create a foothold in Iran’s insurance industry have been Germany's Hermes, Italy’s SACE, and France's Coface. They have all recently signed agreements to guarantee a certain trade activity with the Islamic Republic, Reuters in October.

--- ---

Read more from Source »

Related articles based on keyword density
Cautious Western insurers rebuild business ties with Iran ...
reuters.com 22/10/2016 Economy
*** FILE PHOTO: Iran's national flags are seen on a square in Tehran February 10, 2012, a day before the anniversary of the Islamic Revolution. REUT...View Details»

ISIS: The Spoils of the "Great Loot" in the Middle East - FPIF...
fpif.org 02/07/2014 Politics
Adding yet more warfare to the current crisis in the Middle East will perpetuate exactly what the imperial powers set out to do: tear an entire region...View Details»

Middle East - Security Council debates ending UN sanctions on Iran ...
france24.com 13/03/2015 News
Major world powers have begun talks about a UN Security Council resolution to lift UN sanctions on Iran if a nuclear agreement is struck with Tehran, ...View Details»

Italy, Iran sign $1.3 billion high-speed rail deal ...
presstv.ir 12/07/2017 Economy
FS Chief Executive Renato Mazzoncini, left, and head of the Islamic Republic of Iran Railways Saeed Mohammadzadeh sign documents for the construction ...View Details»

EU: Iran exports to Europe rise by 300% ...
presstv.ir 29/04/2017 Import-Export
*** European Climate Action and Energy Commissioner Miguel Arias Canete addresses the first-ever Iran-EU Business Forum on Sustainable Energy in Tehra...View Details»