U.A.E. insurance sector to benefit after lifting of sanctions on Iran

The U.A.E.'s insurance sector would benefit from an anticipated increase in the movement of goods to Iran after sanctions against Iran are lifted, Gulf News reports.

Currently, risk cover on cargo is "provided solely by the Iran Insurance Co.," said Gargash Insurance Services L.L.C. managing director Mustafa Vazayil. "Based on how much of the Iranian market will be opened up to foreign direct investment," it is likely that some multinational insurers in the U.A.E. would return to Iran, Mr. Vazayil said.

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