The U.S. International Development Finance Corporation (DFC) and Chubb have announced the expansion of their Maritime Reinsurance Plan, welcoming a group of prominent U.S. insurers to further strengthen the initiative and enhance global trade resilience.
New partners joining the programme include Travelers, Liberty Mutual Insurance, Berkshire Hathaway, AIG, Starr, and CNA.
With the addition of these partners, the facility has been significantly expanded, bringing an additional $20 billion in reinsurance capacity alongside the existing $20 billion in rolling coverage. This enhancement increases the total capacity of the Maritime Reinsurance Plan to $40 billion, reinforcing its ability to support international shipping and trade.
The initiative provides comprehensive war marine risk insurance, including hull, liability, and cargo coverage. By offering protection across these critical areas, the programme is designed to enable smoother trade flows and provide confidence to businesses operating across key global shipping routes.
Industry leaders highlighted the strength of collaboration between public and private sectors as a central driver of the programme’s success. The expanded partnership brings together deep underwriting expertise, financial strength, and global market experience to deliver robust risk solutions at scale.
The initiative plays an important role in supporting maritime commerce through strategic regions, helping to maintain stability and continuity in global supply chains. By ensuring access to essential insurance coverage, the programme enables shipping activity to continue with greater certainty and efficiency.
Overall, the expansion reflects the insurance industry’s ability to come together and deliver impactful solutions that support economic activity, strengthen global trade networks, and create long-term value for businesses and stakeholders worldwide.
