Iran's offer of conditional passage may ease the bottleneck in a limited sense for the 3,200 stranded vessels, but ships linked to the US, Israel, and countries deemed hostile to Tehran will remain bl...
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.
Shipping firms face stricter underwriting terms and rising costs as marine insurers react to heightened conflict risk in the Gulf and surrounding waters.
The transaction, first announced in February 2025, covers both US protection and pension risk transfer units, and will see the Japanese insurer also take a 5% economic stake in L&G itself.
