Magazine date:
Dec 2017 Middle East Life Insurance Company has obtained license from the Iranian supervisory authorities to operate as a life insurance company in the local market. With a capital of 1.200 billion IRR (35 million USD), the newly established company is a subsidiary of Middle East Bank.
The agreement issued by Central Insurance of Iran (CII) is part of the 2017-2021 five-year plan which is poised to increase the market share of life premiums from 14% to 21%.
More news:
- The insurance industry in Iran [4]