Japanese insurers plan to retain marine coverage in Russian waters

Three Japanese insurers Tokio Marine & Nichido Fire Insurance Co. Ltd., Sompo Holdings Inc. and Mitsui Sumitomo Insurance Co. Ltd. are in talks with reinsurers to resume marine war insurance, which covers damage to ships from the Ukraine war in Russian waters, Reuters reported. The insurers on Dec. 23 told liquefied natural gas shipowners that they would stop offering marine coverage from Jan. 1, 2023.