NY regulator asks foreign reinsurers about Iran links

New York’s financial regulator has asked 20 non-US reinsurers whether they conducted business with entities linked to Iran, as part of a review of these companies’ ability to comply with a new US sanctions law that becomes effective Monday.

The New York’s Department of Financial Services wrote to the companies after learning that three insurers had issued coverage that applied to trades with Iran, according to a copy of the letter seen by Reuters. The three firms could not be identified.

via Business feed http://www.scmp.com/business/companies/article/1273790/ny-regulator-asks-foreign-reinsurers-about-iran-links