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.
Insurers including Chubb, Fidelis and Lloyd’s were granted permission on Tuesday (March 31) to appeal against a London court ruling that favoured AerCap, the world’s largest aircraft lessor, in a dispute over jets stranded in Russia following the invasion of Ukraine, Reuters has reported. Read the full story.
Asia-Pacific is particularly exposed to the Iran war, according to Hong Kong reinsurer Peak Re, with an estimated 84% of crude oil and 83% of LNG moving through the Strait of Hormuz destined for Asian markets. Read the full story.
Reinsurers have not signalled any intention to impose blanket regional exclusions across Gulf States despite the Iran war, ahead of April 1 renewals, says WTW. Read the full story.
Escalating Middle East tensions are increasing risks for Greek and Cypriot banks through their significant exposure to the shipping sector, as vessel rerouting and higher operating costs reshape global trade dynamics. Read the full story
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