GIC Re withdraws marine hull war cover in high-risk regions

March 2, 2026

State-owned GIC Re will withdraw Marine Hull War Risk cover from several high-risk regions starting in early March, including the Persian Gulf, Black Sea, and Red Sea, amid rising geopolitical tensions. Ship owners should review their insurance arrangements, as there will be no war risk protection from GIC Re for operations in these regions after the cut-off date.

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