London Market expands Red Sea warning, adds Guyana, as tensions rise
Lloyd's underwriters expanded their warning zone on Red Sea shipping and added the South American state of Guyana to its risk list as a border dispute reheats, a statement from the LMA's Joint War Committee showed.
In the Red Sea, the underwriter group moved the northern border of its warning zone from 15° to 18°N following the latest reports of attacks on shipping.
In South America, the underwriter group added Guyana to its shipping risk list on renewed signs of tensions with Venezuela as a border dispute over the Essequibo region reheated. Tensions rose after Venezuelan voters backed a call to appropriate the lands, news reports have suggested.
In Africa, the warning zone in Eritrea was expanded north three degrees. Border markers in waters of Cabo Delgado off the coast of Mozambique and Tanzania were also adjusted lightly.
The LMA's Joint War Committee brings together underwriting representatives from both the Lloyd’s and IUA company markets, representing the interests of those who write marine hull war business in the London market.
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