Launch of new marine war risk consortium to support Strait of Hormuz shipping

19 June 2026

Today, Lloyd’s welcomed the launch of a new Lloyd’s market consortium designed to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz.

Chubb will serve as lead underwriter, supported by participating Lloyd’s syndicates and specialist market partners. The consortium brings together leading underwriting expertise with additional Lloyd’s market capacity to support brokers and clients operating in a complex and fast-moving environment.

The new marine war risk consortium will issue primary policies for vessels and cargo. It will provide up to $200 million of capacity separately for hull and P&I risks, with an additional $200 million of dedicated cargo capacity.

As a global leader, Chubb is actively working to provide coverage and organise needed capacity as vessels begin moving through the Strait of Hormuz. We are proud to lead this consortium, which provides our brokers and clients with a simple, efficient solution to their insurance needs while highlighting the importance our industry plays in supporting global commerce.
Evan Greenberg, CEO of Chubb
We welcome the launch of this new marine war risk consortium, which will increase the depth and breadth of solutions available to brokers and clients as they respond to a complex and evolving situation in the Middle East.

Lloyd’s will work closely with Chubb and participating syndicates to help mobilise additional specialist capacity swiftly and responsibly in support of ships, crews and cargo moving through the Strait of Hormuz.

This is a clear example of the Lloyd’s market’s role in bringing together specialist underwriting expertise, claims capability and global market capacity to support the resilience of marine supply chains.
Patrick Tiernan, Chief Executive of Lloyd’s

Notes to Editors 

  • The consortium is expected to be available to brokers and clients from 19 June 2026, subject to underwriting criteria, sanctions screening and applicable regulatory requirements.
  • The consortium will be led by Chubb, with support from participating Lloyd’s syndicates and specialist market partners.
  • Cover will be accessed through brokers in the usual way and will be subject to individual risk assessment, policy terms, conditions and exclusions.
  • Marine war risk insurance provides cover for certain war, terrorism, piracy and related perils affecting vessels and cargo, subject to the terms of the relevant policy.
  • Any coverage provided through the consortium will remain subject to all applicable sanctions, export controls and legal or regulatory restrictions

Enquiries to:

pressoffice@lloyds.com
tel:+44 (0)20 7327 5111
Annie Roberts – Head of External Communications
Jack Petch – Senior Manager – Media and PR

Mediarelations@chubb.com
Amy Well - Senior Vice President, Chubb Group, Chief Marketing & Communications Officer
amy.well@chubb.com

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