With the addition of new insurance partners, the United States is doubling its commitment to reinsurance guarantees for vessels willing to transit the Strait of Hormuz to $40 billion.
The U.S. International Development Finance Corporation (DFC) announced that Travelers, Liberty Mutual, Berkshire Hathaway, American International Group (AIG), Starr, and CNA Financial will join Chubb in providing an additional $20 billion in reinsurance for the agency's maritime financing facility.