Iran looks to China, Russia for new insurance business amid sanctions
Posted On: Jun. 7, 2018 7:34 AM CST
Abdolnasser Hemmati, head of the Central Insurance of Iran, said that the country is negotiating with China, Russia and India for new business following U.S. sanctions against Iran, Al-Monitor reported. Mr. Hemmati, said that 70% of the country's $3-trillion insurance potential remains uncovered. Several European insurers are looking to pull out of Iran following the threat of sanctions against companies conducting business with Iran.