The purpose of this Website is to provide the public with information relating to the Commissioner's publication of information concerning investments in companies doing business with the Iran energy, nuclear and military sectors.

The following sections of this Website contain information regarding Iran-related investments.

Regulatory Authority
List of Companies Doing Business in Specified Iranian Economic Sectors
Discontinuation of Quarterly IRI Workbook Reports
List of Insurers With Iran-related Investments
Contact Information
Register to Receive E-Mail Updates to this Page

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Regulatory Authority

On February 10, 2010, then-Insurance Commissioner Steve Poizner sent a letter to all insurers holding a certificate of authority to transact insurance in California: (1) listing companies doing business with the Iranian energy, nuclear and military sectors ("List"); (2) informing insurers of the treatment of investments in those companies on insurers' statutory financial statements; and (3) requesting a moratorium on future investments in companies on the List and their 50% or more owned affiliates.

On January 27, 2012, Commissioner Dave Jones announced the settlement of litigation relating to the Department's efforts to curtail insurer investments in companies doing business in Iran. As a result of this settlement, insurers will no longer be required to file quarterly reports regarding their Iran-related investment activities, nor will such investments be disallowed for purposes of determining the financial solvency of insurers. 

The Commissioner retains the power to independently review and publicize the names of insurers with investments in Iran-related businesses.  The Commissioner also retains the power to make public a list of businesses directly engaged in the Iranian nuclear, military or energy sectors of Iran.

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List of Companies Doing Business in Specified Iranian Economic Sectors

The Department has developed a list of companies doing business with the Iranian oil and natural gas, nuclear, and military sectors. Select the link below to view the list of companies.

• List of Companies Doing Business with the Iranian Energy, Nuclear, and Military Sectors, as of April 23, 2012

The Department may in the future revise the list by adding companies found to be doing business with the Iranian oil and natural gas, nuclear, and military sectors; removing companies that cease doing business with those sectors; or making changes based on other risk-related considerations.

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Discontinuation of Quarterly IRI Workbook Reports

For the reasons described under the Regulatory Authority heading, above, insurers are no longer required to file quarterly reports regarding their Iran-related investment activities.

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List of Insurers with Iran-related Investments

A list of insurers with Iran-related investments will be posted here in the near future.

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Contact Information

For questions regarding the publication of the list of insurers with investments in Iran-related businesses, please contact:

Drake Shogun, Manager

California Department of Insurance
Special Projects Division
300 Capitol Mall, Suite 1600
Sacramento, CA 95814

For questions regarding legal or substantive matters, please contact:

Bryant Henley, Assistant Chief Counsel

California Department of Insurance
Legal Branch
300 Capitol Mall, Suite 1700
Sacramento, CA 95814

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