1st UK Reinsurance for South Pars Projects
EghtesadOnline: Ed Broking LLP, London-based wholesale insurance and reinsurance broker, says it has managed to provide reinsurance coverage for three energy projects in Iran’s South Pars Gas Field.
Ed Broking managed to be the first provider of reinsurance coverage from the London market for Iran’s energy projects after the lifting of sanctions in January 2016, Khosro Azad, a regional director of the company, told Donya-e-Eqtesad daily on Saturday. “The broker had to deal with challenges regarding banking operations at the beginning,” he added, noting that his team managed to solve the issues. The report included no details about the coverage or the process of solving the banking issues. Ed Broking LLP has managed to win London Market Awards for Broking Team of the Year in 2016 after overcoming obstacles to reopen the vast Iranian energy market to London underwriters, according to Financial Tribune.