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U.S. sanctions seen barring IT platform of insurer Lloyd's for Iran trade

Reuters  |  LONDON 

By Carolyn Cohn and Jonathan SaulLONDON (Reuters) - New U.S. sanctions are likely to prevent the use of a Lloyd's of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country.European insurers, reinsurers, brokers and shipping firms have been winding down Iranian business as the United States reimposes sanctions on insurance and reinsurance from Nov. 4 after withdrawing from a nuclear deal with Iran in May.Lloyd's of London and other European insurers provided marine, energy and trade credit cover for Iran after the United States ...

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First Published: Sat, July 14 2018. 00:11 IST