"Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions...European export credit agencies are guaranteeing trade finance for Western companies doing business with Iran. France's Coface has signed an agreement with Iran to guarantee trade finance on behalf of the French government. Nevertheless, major transactions were yet to be concluded due to the banking issues." (Reuters, "Cautious Western insurers rebuild business ties with Iran," 10/21/2016).
“Coface does not currently extend any guarantee to operations the destination of which is Iran nor do we engage in any kind of operations in Iran.”