US EditionUS to reinsure maritime losses in Gulf up to $20bln, says report
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5 Articles
U.S. DFC to reinsure maritime losses in the Gulf of up to $20bn on a rolling basis
The United States (U.S.) International Development Finance Corporation (DFC) and the U.S. Treasury have unveiled a plan to deploy Maritime reinsurance, including war risk, in the Gulf region, which has been approved by President Trump. This new agreement was announced by Ben Black, Chief Executive Officer (CEO) of DFC, and Scott Bessent, Secretary of the U.S. Treasury. The plan is to work in close coordination with CENTCOM in order to restore co…
US DFC unveils $20bn maritime reinsurance plan to support Gulf shipping
DFC chief executive Ben Black said the initiative was intended to help restore confidence in maritime trade and ensure the continued flow of key commodities through the Strait of Hormuz The post US DFC unveils $20bn maritime reinsurance plan to support Gulf shipping appeared first on Gulf Business.
The U.S. will create a $20 billion reinsurance mechanism for maritime traffic By Drafting of Sin Comillas The U.S. Finance Corporation for Development (DFC) is creating a $20 billion reinsurance mechanism to reactivate cargo shipping and oil trade, paralyzed by the closure of the Strait of Ormuz following U.S. and Israeli attacks on Iran, according to The Financial Times. This mechanism would help alleviate the exorbitant cost of insurance. The …
The US is securing ships in the Persian Gulf and is now offering maritime reinsurance to stabilise trade.
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