The conflict in Ukraine has the potential to become an industry-defining event for the global renewables re/insurance sector. In addition to the estimated industry-wide insured losses from wind farms reaching at least $800 million in aggregate, solar energy insured losses …
LONDON/NEW DELHI/TOKYO —Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by …
Lessors with hundreds of jets stuck in Russia are preparing for what one said would be a “vigorous” pursuit of insurance claims while maintaining discreet contact with some customers after Moscow blocked the jets from leaving. The loss of over …
Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday. Two seafarers …
The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to ban European …
DUBLIN –– Major aircraft lessor Avolon recorded a first-quarter impairment of $304 million to cover the full financial impact of having 10 jets still stuck in Russia following European Union sanctions that forced the termination of all Russian leases. Ireland’s …
LONDON –– Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow’s efforts to export oil and gas. …
Exxon Mobil Corp. said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude due to sanctions on Russia. The Sakhalin-1 project produces Russian …
NEW YORK/LONDON –– As Russia teeters on the brink of a historic default, foreign investors in the country’s debt have few palatable options to recover their money: bet on costly legal action, trust bilateral agreements will stand, or sit on …
Air Lease Corp. said on Tuesday it has 21 jets remaining in sanctions-hit Russia, two weeks after a Western deadline for global leasing firms to sever ties with the country’s airlines. All of the company’s aircraft leases to Russian airline …