The shift in destination of Pin Shun appears to be payment-related,...
Category:
International News
Latest
Aon hires 2 professionals to build up its data center expertise
Stephen Fox has joined Aon as a Managing Director, focusing on the...
Apr1 Renewals:India’s loss-free excess of loss business saw price reductions exceeding 20%, says Guy Carpenter
Atish Suri, CEO India, Middle East & Africa, stated,"In the...
West Asia Crisis:Hormuz remains under Iran’s firm control
Until this war, one long-held assumption around Hormuz was that Iran would never attempt to close the strait, for fear of risking its own exports, a vital economic lifeline. In fact, ship-tracking data suggest that Tehran’s oil has continued to flow — almost entirely...
Ship insurers juggle war risks for perilous Gulf route
To price war risk premiums, underwriters are considering numerous factors such as the type, flag and owner of the vessel, as well as its size, speed and cargo London: Iranian forces' threat to ships in the crucial Strait of Hormuz has driven up payments for the...
Trump extends deadline for striking Iranian energy plants to April 7
The war has massively disrupted shipping, sending crude oil prices up around 40%, seen liquefied natural gas prices spike, and prices for nitrogen-based fertilizers, critical to food production, rise around 50%. U.S. President Donald Trump said he would again extend...
US insurance program meant for Strait of Hormuz to begin soon:Scott Bessent
Scott Bessent,US Treasury Secretary Although the program was first unveiled March 3, there’s no evidence that any vessels benefiting from the initiative have passed through the strait, a chokepoint for roughly a fifth of global oil and gas flows. Treasury Secretary...
India among 5 nations granted passage through Strait of Hormuz by Tehran
“We have permitted certain countries that we consider friendly to pass through (Strait of Hormuz). We allowed China, Russia, India, Iraq, and Pakistan to transit,” Iranian Foreign Minister Seyed Abbas Araghchi said, according to Iranian State TV. Tehran/New Delhi:...
West Asia Conflict: Risks extend beyond marine into energy, political violence, aviation, trade credit says Howden
Demand for Political Violence and Terrorism cover has risen sharply, particularly among Western operated assets in the Gulf, with pricing multiples increasing and underwriting becoming more selective. Aviation, cyber and trade related lines are also seeing elevated...
Iran woking on a draft bill to impose a fee on vessels seeking safe passage through Strait of Hormuz
According to the semi-official Fars, the plan would be finalised next week, and would legally recognize Iran’s oversight of Hormuz, a vital conduit which connects some of the world’s largest oil and gas producers in the Persian Gulf with the wider world. The Iranian...
Lagos State goes live with Parametric Flood Insurance policy, Protecting up to 4 million people
The parametric flood-risk product was designed by a team of Insurance Development Forum(IDF)member insurance organizations in partnership with the Lagos State Government, including AXA Climate, AXA Mansard in Nigeria, Swiss Re, flood modeler JBA Risk Management,...
Singapore general insurance market’s gross written premiums rise 8.4% to S$6.09 billion in 2025
Despite the higher claim environment, the domestic segment strengthened its underwriting performance. Underwriting profit rose 32% to S$289 million in 2025, up from S$219 million in 2024. This reflects the continued resilience of Singapore’s general insurance market....
Chaucer and Ceto launch Lloyd’s marine MGA, integrating real-time vessel data into underwriting
With the global fleet now averaging more than 22 years of service, vessel age and other uniform parameters in isolation are an increasingly blunt indicator of risk. The MGA's underwriting method aligns insurance capacity more closely with demonstrated performance and...