The Swedish Club warns members about expanded US Iran sanctions affecting shipping
The alert details new OFAC maritime designations and urges immediate counterparty screening due to heightened Strait of Hormuz transit compliance risks.
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Marine mutual insurance provider
swedishclub.comLast updated
In short: The Swedish Club reported strong underwriting profits and high retention rates while navigating heightened geopolitical risks and sanctions.
The alert details new OFAC maritime designations and urges immediate counterparty screening due to heightened Strait of Hormuz transit compliance risks.
The mutual insurer achieves a 96% combined ratio, generates USD 11.1 million from investments, and maintains USD 282 million in free reserves amid complex market conditions.
Effective 16 August 2026, cover excludes Indian Ocean, Gulf of Aden, and Red Sea waters, with reinstatement possible on agreed terms.
The Tokyo MoU and Paris MoU campaign runs from September to November 2026, checking SOLAS compliance for cargo securing, with potential vessel detention for failures.
The Swedish Club reports strong H1 results for 2026, showcasing improved profitability and continued premium growth.
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Source: The Swedish Club Nordberg: ‘Capital discipline underpins confidence that the club remains dependable, particularly in more challenging conditions...
Most of the world's largest maritime insurance firms are set to automatically terminate war-risk cover for vessels entering the Persian Gulf due to escalating risks...
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