The insurance cost of shipping goods through the Red Sea has more than doubled in recent days after Yemen's Houthis attacked and sank two ships, killing at least four seafarers after months of calm, Reuters has reported, citing industry sources.
During 2024 the world lost 576 containers at sea according to a new report update by The World Shipping Council (WSC). This represents an increase from the record-low 221 containers lost in 2023.
These are the updates on insurance regulatory developments in China.
The Insurance Regulatory Authority is working with the Kenya Revenue Authority (KRA) to implement a new marine cargo insurance system that has been delayed since February 2025.
The risk of regional escalation in the Israel-Iran war includes the risk that the conflict poses one of the most critical arteries of global commerce: the Strait of Hormuz.
International specialty (re)insurance MGA Rokstone has appointed Mr Rama Chandran as leader of its operations in APAC, following the completion of his notice period at QBE International. In his new role, he will lead Rokstone's its expansion across the market.
Geopolitical tensions are playing out in new and novel ways for the shipping industry, which is already juggling the energy transition and the legacy of the COVID-19 pandemic, says Allianz Commercial senior marine risk consultant, Captain Nitin Chopra.
A directive in Kenya that all imports into Kenya must be insured by local insurance companies is shifting the dynamics in the insurance industry in Kenya and can be seen as having the potential to reshape the country's economic future, according to a commentary posted on the website of the global law firm, Clyde & Co.
The Malaysian general insurance industry's gross written premium (GWP) grew 6.9% y-o-y to MYR23.1bn ($5.3bn) in 2024.