Coll 28/39(2) ‘Persia. Printed Correspondence, 1937–’ [‎61r] (121/320)

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{Received on 19th December 19S7 with Political Secretary's letter No. 48, dated
the 2nd December 1937.)
Enclosure in Weekly Letter No. 48, dated the 2nd December 1937, from
Secretary, Political and Secret Department, India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. .
Letter from His Majesty’s Minister Tehran,'to the Foreign Office,
London, No. 416-E., dated the 4th November 1937.
With reference to my despatch No. 271-E. of 17th July last, I have the
honour to transmit to you herewith a translation of a decree regarding insur
ance companies approved by the Council of Ministers on 18th October last,
which has been furnished by Messrs. Fowler and Company Limited, Tehran.
This decree cancels the decree of 11th Mehr 1315 (3rd October 1936) which
was reported in my despatch No. 465-E. of 15th October 1936. The transla
tion may not be entirely reliable, but I have thought it well to forward it to
you without delay. I will not fail to inform you of any corrections which
may be found necessary when the official text of the Regulations is published.
2. Mr. de Courcy, the Baghdad director of Messrs. Fowler and Company
Limited was in Tehran till a few days. Just before leaving for Baghdad he
said that he was aware of the gist of the new regulations which were being
examined by the Council of Ministers, and that he was of the opinion that the
new conditions would be acceptable to foreign insurance companies.
3. Mr. Mizrahi, the Manager of Messrs. Fowler’s office in Tehran, who
furnished the translation of the new regulations, called on me today and told
me that the Iran Insurance Company had convened a meeting on 3rd Noveim
her of all insurance institutions, which comprised the following concerns ;
Iran Insurance Company.
Fowler and Company Limited.
Ezra M. Hakkak and Sons (Alliance Assurance).
Alianz Stuttgarter.
Gosstrach (Soviet Assurance Company).
Palestine Lloyd.
Royal Insurance (represented by Mr. Howarth of the Anglo-Iranian
Oil Company).
4. In general the conditions of the regulations appear to be reasonable*
The only serious difficulty would appear to be the formation of a “ syndicate ”.
Mr. Mizrahi said that a commission of five had been nominated “to fix
Insurance rates and discuss general conditions of the policies in respect of
Fire, Transport and Motor insurance ”. The representatives of the Iran,
Fowlers, Gosstrach, Alianz Stuttgarter and Palestine Lloyd were nominated.
Mr. Mizrahi, not understanding French, was unwittingly included, but’on learn
ing later that he had been appointed wrote and excused himself on the plea
that his chief had left for Baghdad and he was too busy. The real reason for
the refusal is that Messrs. Fowler’s principals are members of the Fire Office
Committee (Foreign) and so are tied down to rates and conditions fixed by the
Committee, and Mr. Mizrahi considered that Messrs. Fowler’s representative
could not properly take part in a Commission to fix rates and possibly change
general conditions of policies.
5. Mr. Mizrahi is naturally informing his principals at Baghdad of the
situation ; the regulations have not yet been published and a proems-verbal of
yesterday’s meeting is not yet available.
I am sending a copy of this despatch to the Department of Overseas
Trade, London, unnumbered*
J7(S) EAD.