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On 4th November 2001 the Cabinet of Ministers agreed with the
proposal of Central Insurance of Iran which was approved by
the Ministry of Economic
Affairs and Finance as to the minimum capital required for
establishment of non government insurance companies.
This agreement was needed because of note 3 of the Act of
“Stablishment of the Non Governmental Insurance Companies”. This
“note” replaced the minimum capital Establishment of article 36
of the “Stablishment of Central Insurance of Iran and
Insurance Operation" Act and transferred the authority to set
out such minimum by the Cabinet of Ministers.
The minimum capital required for insurance/reinsurace
companies, are as the followings:
· For life company : Rials 80 000 000 000
· For Non life company: Rials 80 000 000 000
· For composite (life and non life) company:
Rials 140 000 000 000
· For reinsurance company: Rials 200 000 000 000
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