GIC Re and New India Assurance are said to be leading the formation of a US$100m marine war-risk pool to cover vessels on high-risk routes in and around the Persian Gulf.
APAC insurers are well positioned to absorb Middle East-related stresses, but insurers in Singapore stand out owing to their position as a major shipping and insurance hub.
The Hong Kong non-life insurer's A (Excellent) rating and stable outlook remain intact as strong capitalisation and rising investment returns offset a soft, competitive market.
