Iran’s Day Insurance Company to Expand its Activities in Croatia

Iran's Day Insurance Company to Expand its Activities in Croatia

The Croatian ambassador to Iran Esad Prohic asked Iran’s Day Insurance Company to expand its activities inside Croatia during a meeting with CEO, Faramarz Fathnejad.

Esad Prohic met Faramarz Fathnejad in building of Day Insurance Company and praised the abilities and talents of this Iranian insurance institute. The mission of Esad Prohic is going to be finished soon but he promised the Iranian side to provide all the necessary facilities for this company to do business in Croatia. “I have also negotiated with Ivo Josipović (President of Croatia) over this subject. My country is ready to use the experiences of Day Insurance in Croatia.” Esad Prohic told the managers of Day. Fathnejad also discussed the activities of Day Insurance and expressed his happiness from receiving this offer made by Croatian ambassador to Iran.

Insurance industry in Iran is dominated by state-owned companies including Iran Insurance Company, Asia Insurance Company, the Alborz Insurance Company and the Dana Insurance Company.

Day Insurance Company is belonged to private sector but governmental organizations hold around 39% of share in this company. Ansar and Shahed companies which owned by IRGC (Iran’s Revolutionary Guard Corps) are the main governmental institutes that are the shareholders of this company. IRGC activities are highly forbidden and blocked in Europe so it is unclear that how Croatia could allow Day Insurance Company to start its business inside Europe.

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