The current geopolitical tensions in the Middle East are being closely monitored by the insurance industry across the region, says the Association of Lebanese Insurance Companies (ACAL).
The situation in the Middle East, especially in countries directly involved in the conflict, continues to evolve in quick time. The situation on the ground in each country is nuanced, changing rapidly (sometimes by the hour), and travellers are being advised to assess their own risk profile and reasons for going there.
Effective 1 April, Marsh has appointed Mr Nick Studer as President and CEO of Marsh Risk, and Mr Martin South as Chief Client Officer of Marsh. Both will serve on the company's Executive Committee.
The Fidelis Partnership (TFP) has announced a number of promotions, including heads of business across specialty lines.
Africa Specialty Risks (ASR) has appointed Mr Joseph Kotran as Head of Business Development, Middle East and Turkiye.
S&P Global Ratings (S&P) expects the conflict in the Middle East to inject additional uncertainty and earnings volatility into global reinsurers' 2026 results, particularly within specialty lines.
S&P Global Ratings (S&P) says that it considers the gravity of the military conflict in the Middle East to have moved from high to severe in its pre-defined scenarios and consequently, the potential for events to weaken credit quality across sectors has increased.
Many of the world's leading maritime insurers have cancelled war risk cover for vessels entering the Persian Gulf, amid escalated military conflict in the Middle East.