Gradual dismantling of legal cession in Iran
Iranian regulators are considering lowering the legal cession rates with the national reinsurer, Central Insurance of Iran (CII). The legal transfer rate on non life treaties will therefore go from 15% down to 10%. For life treaties, the transfer is set at 20% instead of 25% in the past.
These percentages will be gradually reduced until 2022. No detailed schedule has been disclosed to specify the transfer rates for upcoming years.
This initiative is part of the 2017-2021 five-year development plan adopted by the Iranian authorities.
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