Establishment of a new life insurance company
Mellat Insurance has announced the imminent start of operations for a new life insurer of which it will detain a 20% stake. Four other institutional shareholders will take part in this project. These stakeholders are in talks with the regulatory authority and bank Refah to envisage the possible involvement of other investors.
This initiative is behind the birth of a second life insurer in the country. The life class of business accounts for 12% of the turnover of the insurance industry in Iran.
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