The United States has doubled the reinsurance scale for the Strait of Hormuz to 40 billion dollars
According to Jinshi, the United States has doubled its commitment to provide reinsurance guarantees for vessels willing to transit the Strait of Hormuz to $40 billion and has introduced new insurance partners including American International Group and Berkshire Hathaway.
The U.S. International Development Finance Corporation (DFC) announced a $20 billion reinsurance program last month. The agency stated today that Travelers Insurance, Liberty Mutual Insurance, Berkshire Hathaway, American International Group, Starr, and CNA will provide an additional $20 billion in reinsurance support for its maritime facilities alongside Chubb Insurance.
DFC CEO Ben Black stated in a statement, "These leading U.S. insurance companies bring deep expertise in marine and war risk underwriting, enhancing our efforts to restore confidence in maritime trade."
The agency also stated that it will work with insurance partners to determine which vessels qualify for reinsurance. To qualify, applicants must provide information including the vessel's port of origin and destination, the primary beneficial owners and their locations, the cargo owners and their locations, as well as information about the lenders providing financing for the vessel.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

FlyAkeed Secures $25.15 Million Growth Funding

Tmall Launches Token Recharge Center, Integrates Domestic Model Providers like Alibaba Cloud

Russia Attacks 'Biocon' Warehouse in Boryspil District

London Stock Exchange Partners with Payward to Tokenize 100 UK Stocks

Zelensky Orders Expansion of Business Support After Russian Attacks

South Korea's Foreign Exchange Reserves Increased by $14.33 Billion in August, Setting a Record

Meta Releases Muse Spark 1.3 Model, Enhancing Personal AI Agent Performance

Lyte Completes $165 Million Series C Funding Round Led by Maverick Silicon

Ozon Moves Goods to Kazakhstan, Waives Transportation Fees

Banco Macro Reduces Rate and Extends Mortgage Loan Term to 20 Years

CRS System Allows Polish Tax Authorities Access to Information on Foreign Accounts

Surge in Bond Yields in the United States, United Kingdom, and Japan

Russian Drone Destroys 'Ukrnafta' Gas Station in Odesa Region

Zammler Warehouse Company Ceases Operations

Figure Completes $717 Million Acquisition of Kiavi

Shein Closes at 48.50 HKD on Its Stock Market Debut

Ukrainian State Companies Spent Over 2.3 Billion UAH on Russian Software

Logistics Restructuring in Ukraine May Lead to Food Price Increase of Up to 2.5%

New Rules for Connecting to Power Grids in Ukraine Effective September 1, 2026

Coincheck G Partners with French DFNS to Explore Custody Solutions for Institutional Investors
U.S. Treasury Expands Bond Buyback Program to $4 Billion

Surge in IPOs in China: AI and Robotics Companies Lead Debuts in Shanghai and Hong Kong

Gulliver Shopping Center in Kyiv Sold for $207 Million

Focus: Inflation Eases, But Declining GDP Raises Concerns

NABU and SAP Increase Number of Suspects to 9 in Corruption Case in Poltava

Tether CEO argues stablecoins are more reliable than deposit tokens

IMF Begins Negotiations with Ukraine on Economy and Budget

Financial Services Agency Requests 13.4 Billion Yen Increase in 2027 Budget, New Office for Cryptocurrency Oversight

Deputy Governor Lu Lei Discusses the Clear Boundaries of Responsibility in Agent Payments and the Upcoming Release of Self-Regulatory Conventions, Agreements, and Standards







