India Plans $1.5 Billion Sovereign Guarantee Fund to Back Marine War Risk Insurers

India Plans Major Sovereign Guarantee Fund to Boost Marine Insurance

India is set to launch a USD 1.5 billion sovereign guarantee fund to bolster reinsurance for domestic marine insurers servicing vessels in high-risk areas like the Persian Gulf. This initiative addresses a severe marine war risk insurance market disruption, with European premiums surging up to 1000% since February, ensuring operational confidence for Indian shippers.

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