Scor eager to boost insurance ties with Iran

TEHRAN, Mar. 05 (MNA) – CEO of Scor Global P&C, a global Tier 1 reinsurer, has voiced willingness to develop insurance relations with the Islamic Republic of Iran.

Victor Peignet, CEO of France’s SCOR Global P&C, met and talked with Dr. Abdolnaser Hemmati, President & Head of High Council of Insurance of Bimeh Markazi Iran (Central Insurance of IR Iran) on Sunday morning in Tehran.

At the joint meeting, which was attended by top officials of both parties, France’s Peignet emphasized on his company’s eagerness to uplift his company’s ties with the Iranian insurance industry.

“We deem it necessary to meet requirements of Bimeh Markazi Iran before taking any steps towards negotiations or agreement,” stressed the visiting official expressing hope that Scor could bolster relations with the Iranian insurance industry within framework of coordination with Central Insurance of Iran.

Iran’s Abdolnaser Hemmati, for his part, pointed to the age-old history of cooperation between Iran and Scor as well as positive measures taken by the French side in recent years; “we hope that insurance relations between the two countries will be expanded within framework of the Joint Comprehensive Plan of Action (JCPOA) and removal of restrictive conditions rooted in unresolved sanctions against some Iranian companies.”

It should be noted that, Scor reinsurance company, with a total reinsurance premium of 14 billion euros, remains as the world's fifth-largest reinsurance company as regards premium volume.

Reinsurance is a contract under which a company, the reinsurer, agrees to indemnify an insurance company, the ceding company, against all or part of the primary insurance risks underwritten by the ceding company under one or more insurance contracts.

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News Code 123998

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