National insurer IIC dismantled

Iran Insurance Company (IIC) is holding almost one third of the Iranian insurance market. This state-owned company has been severely affected by a series of recent setbacks, such as the discovery of large doubtful debts and large-scale claims.

The Ministry of Economy and Finance has announced its intention to divide IIC into four separate and independent entities: a life insurance company, a non life insurance company, a reinsurance company and an investment company.

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