Hannover Re

The Iran Freedom and Counter-Proliferation Act of last year (IFCPA), signed into law by President Barack Obama bans financial services firmsfrom providing services to companies that do business with Iran. Photo: AFP

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.