The entry of foreign insurers shall contribute to the market development

According to an insurance official, the entry of foreign companies to the Iranian market, expected within the framework of the 2005 and 2010 five-year plan, will contribute to the development of the insurance service quality as well as its competitiveness. The achievement of such an objective relies on the amendment of article 44 of the Iranian constitution, which would pave the way for the privatisation of national companies including insurance firms.