Chubb CEO: Strait of Hormuz commerce 'vital' to global economy

"The commerce passing through the Strait of Hormuz plays a vital role in the global economy, and providing vessels with insurance. Roughly 20% of global oil flows through the Strait of Hormuz. When that lane goes dark, energy markets feel it almost immediately. WTI crude has already been climbing, sitting at $64.51 per barrel in February 2026, up from $57.97 in December 2025."

"The problem isn't just the geopolitics. It's that war risk coverage for vessels navigating a conflict zone has effectively dried up, paralyzing commercial traffic. The DFC and Chubb are collaborating with other American insurance companies to expand market capacity for this vital coverage, with additional reinsurance partners potentially announced in coming days."

"You don't get tapped to lead a $20 billion government-backed reinsurance program by accident. Chubb operates in 54 countries and territories with a $170.7 billion total investment portfolio. The company just posted a record P&C combined ratio of 81.2% in Q4 2025 and generated $10.31 billion in net income for full-year 2025."

Chubb, the world's largest publicly traded property and casualty insurer, has been selected by the U.S. government's International Development Finance Corporation to lead a $20 billion maritime reinsurance initiative. The program aims to restore commercial shipping through the Strait of Hormuz, which handles approximately 20% of global oil flows. War risk insurance coverage for vessels in the conflict zone has become unavailable, disrupting commerce and affecting energy markets. Chubb's selection reflects its substantial financial strength, including a $170.7 billion investment portfolio, record combined ratio of 81.2% in Q4 2025, and $10.31 billion in net income for 2025. The company operates across 54 countries and territories, positioning it to manage this critical infrastructure challenge.

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