US to launch Hormuz shipping insurance programme
The United States is set to roll out a maritime insurance programme to support shipping through the Strait of Hormuz, aiming to stabilise global oil and gas flows amid geopolitical tensions.
US Treasury Secretary Scott Bessent said the initiative, backed by the US International Development Finance Corporation, will provide insurance guarantees and may be supported by naval escorts to ensure safe passage for vessels in the Gulf region.
The programme comes at a time of rising concerns over supply disruptions due to the Iran conflict, with threats to close the Strait of Hormuz-a key global energy transit route.
While insurers such as Lloyd’s of London continue to offer coverage, premiums have surged sharply due to heightened risk. The initiative is expected to improve confidence among shippers and help restore trade flows through the critical corridor.
Nepal probes $20 million Everest insurance fraud
Authorities in Nepal have launched an investigation into a suspected $20 million insurance fraud linked to Mount Everest expeditions, involving staged medical emergencies and false rescue claims.
The alleged racket, active between 2022 and 2025, reportedly involved guides, helicopter operators, hospitals and agents collaborating to trigger unnecessary evacuations. Investigators say methods included inducing illness through substances like baking soda, misuse of medication, and fabricated medical records to justify claims.
More than 300 fake rescue cases have been identified, with 32 individuals charged and nine currently in custody.
Industry stakeholders warn that the scandal could damage Nepal’s reputation and erode trust among international insurers, potentially impacting future expedition coverage and rescue operations.
Munich Re AGM approves €24 dividend, CEO cites ‘excellent financial condition’
At global reinsurer Munich Re’s Annual General Meeting (AGM), the above consensus dividend proposal of €24 per share for 2025 was approved, as CEO and Chair of the Board of Management, Christoph Jurecka, noted the company’s “excellent financial position” after a record high net result of €6.1 billion in 2025.
In late February, we reported that Munich Re’s Board intended to propose a dividend of €24 per share for 2025, which was approved at the firm’s recently held AGM. This is above the 2024 dividend of €20 per share and comfortably above consensus for the 2025 financial year.
“In 2025, we added a milestone to Munich Re’s history: on an annual basis, we were financially stronger than ever before. At the same time, we achieved all the targets of our multi-year Ambition 2025 strategy programme. And our new Ambition 2030 strategy defines the path to sustain our success story well into the future,” said Jurecka.
Under Munich Re’s Ambition 2030 strategy, the reinsurer intends to reach even higher peaks in every respect, and will push to boost revenue, profitability, and efficiency.
As reported previously, Munich Re expects its return on equity to exceed 18%, and its earnings per share to grow by more than 8% annually through 2030. At the same time, the firm envisions an increasing total payout ratio to surpass 80% per year, and its Solvency II ratio to consistently remain above 200%.
