Tag Archives | Lloyds

UK Banks rebuff Govt push to Boost Iran Trade

By John Lee. According to a report from Reuters, the Royal Bank of Scotland (RBS) has rebuffed efforts by the British government, a major shareholder, to coax the lender into facilitating trade with Iran. Following the lifting of sanctions, and in anticipation of the UK leaving the European Union (EU), British officials have sought to […]

Germany’s Munich Re eyes Iran Market

By John Lee. The President of Central Insurance of Iran has said that Germany’s Munich Re, the world’s biggest reinsurance company, is considering providing its services to Iran. During a visit to Germany to discuss the prospects of post-sanctions investment opportunities in Iran by insurance companies, Abdul-Nasser Hemmati emphasized that top officials from Munich Re […]

Western Insurers Target Iran

By John Lee. Reuters reports that Iran is in active talks with insurers to provide cover in a market valued at $9 billion last year, and potentially double that in the next decade. This is despite the fact that Iran has secured ties with only a limited number of smaller banks as U.S. sanctions remain […]

Lloyds Resumes Insuring Iranian Oil Tankers

By John Lee. The managing director of the National Iranian Tanker Company (NITC) has said that Iranian oil tankers will be able to avail Lloyds insurance services from Monday, a few days after the removal of international sanctions against Iran. Ali Akbar Safaei added that the NITC has close to 60 Very Large Crude Carriers […]