As tension escalates amidst the ongoing war in the Gulf, the General Arab Insurance Federation (GAIF) urges stakeholders to consider alternative solutions to strengthen the sector's capacity to deal with war risks.
Persian Gulf states have experienced material damage from retaliatory Iranian missile and drone attacks, following the commencement of hostilities between the US, Israel, and Iran on 28 February, according to a report released by Guy Carpenter, a Marsh business and leading global risk and reinsurance specialist.
The US International Development Finance Corporation (DFC) and Chubb have announced six additional American insurance partners that will provide reinsurance for DFC's Maritime Reinsurance plan.
Chubb and a group of other insurers have announced that they would be providing an additional capacity of $20bn for the US International Development Finance Corporation's Maritime Reinsurance facility, bringing the facility's total insurance support to $40bn.
Reinsurance capacity remains plentiful in the marine branch and there has not been any bounce in pricing - reinsurers are determined not to lose their hard-fought market share whilst those looking to grow continue to drive helpful competition, according to a report published by Gallagher Re.
The China Reinsurance (Group) Corporation (China Re Group) has carried out a preliminary comprehensive assessment of the impact of the US-Israeli-Iran hostilities on its operations. The Group finds that the current impact of the war on it is generally manageable, but uncertainties remain due to ongoing developments.
Reinsurers are adopting a 'client-by-client' approach for 1 April renewals, amdist the ongoing Middle East armed hostilities, according to a report published by Howden Re.
QBE Insurance Group has announced that Ms Kathryn Lisson will step down from the QBE Group Board at the completion of the Annual General Meeting (AGM) on 8 May 2026, following her decision to retire.
Al Etihad Cooperative Insurance has announced the Board of Directors' decision to accept the resignation of the company's CEO, Mr Hussam AbdulAziz Al-Kannas. The resignation was attributed to personal reasons.