With more than 80 marine war-risk policies issued since its May launch, India is advancing plans to build a domestic protection and indemnity (P&I) framework.
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.
Marking its 60th anniversary this year, the company reported its most recent cumulative insured business exceeding HK$2.45 trillion (US$313bn), encompassing over 200 markets globally.
