US-Iran war: a live timeline for the re/insurance market

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.

Chubb named lead insurer for Trump’s $20bn Gulf reinsurance scheme

Chubb will take the lead in President Trump’s plan to offer insurance cover for vessels trapped in the Strait of Hormuz, backed by $20 billion worth of reinsurance. Read the story.

London can absorb Middle East shocks without retreating, says Aon’s Kus

London has a “distinctive responsibility” in the Middle East crisis and can absorb complex systemic shocks while responding with capacity and innovation rather than retreat, Aon’s Global Broking Centre CEO, Tracy-Lee Kus has said. Read the full story.

Middle East war stresses logistics but system ‘functioning as designed’

Despite high risks and a stressed logistics environment from the Middle East crisis, the system is “functioning as designed”, though accumulation is insurers’ main concern and any major market shift will need clear triggers. Read the article.

Lloyd’s reiterates it is open for Strait of Hormuz business

Lloyd’s of London has reiterated that the London Market is still open to covering shipping stranded or attempting to cross the Strait of Hormuz. Read the story.