Archive · 25 Jul 2026
Insurers Halt Red Sea Coverage for Saudi Oil Exports
Some big insurance companies that protect ships from war risks have stopped covering ships connected to Saudi Arabia that go through the Red Sea.
This is because there have been more attacks by Houthi rebels in Yemen, making the area risky for oil exports.
These insurers are based in London and made this decision on a Friday.
The ships affected include those that have docked in Saudi ports, even if they fly other countries' flags.
Leading marine war insurers in the Lloyd's of London market have stopped covering vessels connected to Saudi Arabia sailing through the Red Sea.
The decision was made due to a fresh wave of attacks by Yemen's Houthi rebels.
Affected ships include those flying other countries' flags if they have docked at Saudi ports.
The decision was made on a Friday, but the specific date is not mentioned.
This halt in coverage raises concerns about the safety and continuity of Saudi oil exports through the Red Sea.
- Who
- Leading marine war insurers based in the Lloyd's of London market
- What
- Halt in providing insurance coverage for vessels connected to Saudi Arabia sailing through the Red Sea
- When
- Friday (specific date not mentioned)
- Where
- Red Sea
- Why
- Due to increased risk from Houthi attacks on oil exports
Insurers' Perspective
Saudi Arabia's Perspective
Risk Assessment
Insurers' Perspective
Insurers are assessing the increased risk due to Houthi attacks and are unwilling to cover vessels connected to Saudi Arabia.
Saudi Arabia's Perspective
Saudi Arabia may view this as an overreaction and a disruption to its critical oil export routes.
- Insurers Involved
- Leading war risk insurers based in the Lloyd's of London market
- Affected Ships
- Vessels with any connection to Saudi Arabia, including those flying other countries' flags if they have docked at Saudi ports
- Reason for Halt
- Fresh wave of attacks by Yemen's Houthi rebels in the Red Sea
- Date of Decision
- Friday (specific date not mentioned)
- Region Affected
- Red Sea