Chubb's selection marks a key operational step, but fresh attacks on vessels leave lingering questions over the facility's ability to restore near-normal shipping flows.
Insurance Authority says the five-insurer facility, which covers 10 mainland-owned vessels, draws on local market familiarity with Chinese shipping groups to deliver more tailored underwriting than London...
Market participants flag that DIFC facility may lead to potential withdrawal of private insurers, while operational risks could continue to restrict vessel movements in the Strait of Hormuz.
Most regional holdings are investment-grade, with roughly 98% rated ‘A’ or higher, helping limit potential credit risks despite market volatility linked to the ongoing conflict.
Government officials have reportedly begun talks with US officials to secure political risk insurance and financial guarantees for vessels carrying oil and gas from the Middle East.
