According to sources familiar with the matter, Saudi Arabia has begun discussions with a number of brokers in London on a government-supported war and political risk insurance plan. The Saudi Ministry of Finance has explored a plan to provide lower-premium insurance for ship and marine cargo assets, providing up to 700 million Saudi riyals of commercial coverage for a single insured event. The first level of insurance is covered by insurers and reinsurers. With the underwriting mechanism of the Saudi State-owned Export-Import Bank, each insured entity can also receive hundreds of millions of dollars in additional guarantees. Negotiations related to this project are still ongoing, and there is a possibility that the negotiations will break down.

According to sources familiar with the matter, Saudi Arabia has begun discussions with a number of brokers in London on a government-supported war and political risk insurance plan. The Saudi Ministry of Finance has explored a plan to provide lower-premium insurance for ship and marine cargo assets, providing up to 700 million Saudi riyals of commercial coverage for a single insured event. The first level of insurance is covered by insurers and reinsurers. With the underwriting mechanism of the Saudi State-owned Export-Import Bank, each insured entity can also receive hundreds of millions of dollars in additional guarantees. Negotiations related to this project are still ongoing, and there is a possibility that the negotiations will break down.