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Suez blockage may lead to large reinsurance claims, broker Willis Re says Toggle share menu Advertisement Suez blockage may lead to large reinsurance claims, broker Willis Re says The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. FILE PHOTO: A view shows Ever Given container ship in Suez Canal in this Maxar Technologies satellite image taken on March 29, 2021. Satellite image ©2021 ...

Share this article by Carolyn Cohn (Reuters) – The recent blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. The incident and its impact on hundreds of ships delayed in the canal would be a “large loss” for insurance market Lloyd’s of London, its chairman Bruce Carnegie-Brown said this week, while Fitch Ratings said global reinsurers were likely to face hundreds of millions of euros of claims. Vickers also said reinsurance loss...

The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair

Thursday, 1 April, 2021 - 09:45 Ship Ever Given, one of the world's largest container ships, is seen after it was fully floated in Suez Canal, Egypt March 29, 2021. Suez Canal Authority/Handout via REUTERS Asharq Al-Awsat The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers, chair of reinsurance broker Willis Re International, told Reuters. Formal investigations began this week into how the giant container ship Ever Given ran aground i...

The blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates…