Iranian insurance companies, together with the Russian side, created a special consortium of companies led by the State Central Insurance Company of Iran BimeH Markazi. They will help in the insurance of Russian courts involved in the transportation of oil. This was reported by the Russian media.
Iranian insurers are ready to provide services to Russian and foreign companies involved in the sea transportation of Russian oil. Thus, Iran is ready to help Russia bypass Western sanctions, which involve the ban on the provision of financial, insurance and reinsurance services.
In insurance of Russian courts, more than 12 Iranian companies will be involved, which account for about 48% of the Iranian market, and total assets amount to about $ 27.6 billion
According to experts, for the Russian market, the volume of reinsurance capabilities is estimated at only about $ 100 million, that is, the volume of companies from Iran is not enough. However, a representative of one of them speaks of the great interest of Iranian insurers by the Russian market.
“Iranian insurers for 40 years of life under large -scale sanctions learned to work effectively with their own risks and accumulated extensive experience, knowledge and, most importantly, the capital, which are now ready to share with Russian partners,” he said.