MNA – Following the US withdrawal from the Iran deal, Swiss Reinsurance Co. has announced will leave Iran.
Swiss Re has announced it is “assessing the impact” of the US decision on its business with the Islamic Republic of Iran, following the US withdrawal from the Iran deal on May 8.
The Swiss Re Group provides reinsurance, insurance and other forms of insurance-based risk transfer.
Trump’s Iran deal announcement was made in a Tuesday afternoon White House address, on May 8, in which he announced that he would reimpose sanctions on Iran’s oil sector that had been lifted as part of the agreement. This put the US in violation of its obligations under the agreement, and thus constitutes a unilateral American withdrawal from the deal.