Cameron : Approximately 1,000 vessels remain in the Persian/Arabian Gulf and surrounding waters, half of which are oil and gas tankers.

(LMA):Coverage will remain in place for the time being. War risk coverage is essential because without it, many ships cannot enter dangerous areas

A system of guarantees and insurance against political risk for maritime trade is being developed in ongoing dialogue with the U.S. International Development Finance Corporation. Based on reports from early March 2026, the Lloyd's of London insurance market is actively engaging with the U.S. government to find solutions for maintaining maritime trade in the Persian Gulf, following significant disruption caused by the outbreak of conflict in the region.

LMA : Coverage will remain in place for the time being

The Lloyd's Market Association (LMA), which represents all companies that underwrite policies in the Lloyd's market, has expressed support for the initiative. Its CEO, Sheila Cameron, explained that the vast majority of ships in the region are insured through the London market, and coverage will remain in place for the time being. War risk coverage is essential because without it, many ships cannot enter dangerous areas, which could result in a blockage or slowdown of global energy trade.

Approximately 1,000 vessels in the Persian/Arabian Gulf

"There remain approximately 1,000 vessels, approximately half of which are oil and gas tankers, with an aggregate hull value exceeding $25 billion in the Persian/Arabian Gulf and surrounding waters,” CEO Sheila Cameron of the Lloyd’s Market Association (LMA) said, citing data. Cameron added that the vast majority of these vessels were insured in the London market and insurance "currently remains in place".

Related : Washington declares the Strait of Hormuz, free of Iranian naval presence.

With rising tensions

With rising tensions in the Middle East and increasing risks to maritime traffic, approximately one thousand ships are currently stranded in the Persian Gulf and surrounding waters near the Strait of Hormuz. According to data from the Lloyd's of London insurance market cited by Reuters, half of these vessels are oil or gas tankers. These assets alone are worth more than $25 billion, not including the value of their cargo.

 Statistics of the world's foremost hub for marine insurance

These statistics originate from the world's foremost hub for marine insurance, particularly in the domain of war risk coverage. The market has announced discussions with the U.S. International Development Finance Corporation (DFC) to develop a system of guarantees and insurance against political risk for maritime trade in the Gulf. This was recently announced by U.S. President Donald Trump. Washington has also left open the possibility of escorting oil tankers through the Strait of Hormuz by the U.S. Navy if the situation worsens.

The Gulf region has already been classified as "high risk"

The Gulf region has already been classified as "high risk" by London's marine insurance market, which has led to a surge in insurance premiums for ships traversing the region. Insurance broker Marsh confirmed that it has met with U.S. officials to discuss potential solutions.

Related :Global insurance companies have Cancelled covering war risks in the Gulf,

Agencies 

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