UK Prime Minister Rishi Sunak announced the creation of a framework for war-risk insurance backed by the Group of Seven and designed to encourage private investors to help rebuild Ukraine. Speaking at the opening of the Ukraine Recovery Conference in …
The UK is drawing up a war-risk insurance scheme that it hopes will convince investment companies as well as tech, energy and defense firms to back Ukraine’s reconstruction with billions in aid, people familiar with the plans said. Britain is …
German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline, five sources with knowledge of the matter said, indicating that its revival has not been ruled out after an alleged sabotage attack. …
Denmark is salvaging an unidentified object found next to a Russian gas pipeline that was damaged in a blast last September, as investigators continue to seek who was behind the attack. The operation comes two weeks after German authorities said …
Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial for the …
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for liquefied natural gas (LNG) vessels, industry sources said on Friday. Japan’s …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict. At least 12 of the 13 organizations …
Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …
Japan’s buyers of Russian liquefied natural gas are assessing how imminent changes to shipping insurance — triggered by the ongoing war in Ukraine — will affect supplies from the key Sakhalin-2 project in Russia’s Far East. Three Japanese insurance companies …
