Follow Intelligent Insurer’s rolling coverage of the escalating US-Iran conflict, with a focus on developments that matter to the global insurance and reinsurance industry.
Strong capitalisation and 2025 earnings are likely to shield global reinsurers from the current conflict in the Middle East, with specialty lines of marine, trade credit, aviation and political risk expected to see the most direct and immediate impacts.
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London Market Association’s Joint War Committee is revising its listed areas, the list of geographical areas where vessels are at increased risk of war-related perils, in light of the escalating Iran war.
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The London Market is “reacting proportionately” to the fast-evolving conflict across the Gulf with marine insurers weighing up whether to cancel policies, says Lloyd’s Market Association.
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Marine insurers have cancelled war-risk cover in Persian/Arabian Gulf due to reinsurers retrenching war-risk exposure in light of the Iran/US/Israeli war.
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