SCOR agrees on cat excess of loss deal with Iran

SCOR has reached an agreement concerning a cat excess of loss deal with the Iranian insurance regulator Bimeh Markazi Iran, the organisation said in a Sept. 29 press release.

The agreement follows a meeting attended by Abdolnaser Hemmati, president of Bimeh Markazi Iran (Central Insurance of IR Iran) and Victor Peignet, CEO of SCOR Global P&C.

The agreement is the consequence of extensive investigations and discussions conducted by Bimeh Markazi top executives as well as technical experts in the field of reinsurance and law, leading to amendments to the treaty, according to the statement.

Hemmati expressed his enthusiasm for the contribution of other European well-known reinsurers to the Iranian industry.

Following the agreement, Kessler expressed his hope for the promising future as far as the new round of cooperation is concerned, according to a statement.

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