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Munich Re Eyes Iranian Industry

Officially invited to pay a visit to the largest reinsurer worldwide, Dr. Abdolnaser Hemmati, the President of Bimeh Markazi Iran (Central Insurance of IR Iran) was the top guest to the highest officials Munich Re Group, 21 November 2016.

The meeting, hosted by Dr. Nikolaus von Bomhard- Chairman of Munich Re Management Board, also witnessed the presence of Dr. Joachim Wenning- Member of Munich Re Management Board, together with other top executives of Munich Re and ERGO. The Head of Insurance Research Center (IRC) also accompanied the President of Bimeh Markazi. The attendees exchanged views on the feasible approaches to the expansion of insurance cooperation between the two countries.

Accordingly, Munich Re Group expressed their willingness and enthusiasm to provide essential reinsurance coverage in the realm of life and non-life, investments in direct insurance, as well as IT and technical training for experts and top executives of Iranian insurance industry.

President Hemmati presented an overview of economic developmental plans and growing market in Iran, while calling for European insurers and reinsurers, Munich Re in particular, to invest and actively participate in Iranian industry through new products and services.

The presence of Dr. Joachim Wenning, who is expected to be the next chairman of the management board in the upcoming months, led to three hours of fruitful talks and negotiations which, as a whole, contribute to Munich Re long-terms plans for entering and participating in the Iranian market.

The foundation of Munich Reinsurance Company dates back to 1880. Divided into three major sectors, i.e. reinsurance, primary insurance, and Munich Health, Munich Re registered the total balance sheet of € 276 billion, gross premiums written € 50.4 billion, and operating results of € 4.819 billion, in 2015.

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