Posted on March 9, 2026
The US International Development Finance Corporation (DFC) said it plans to deploy a maritime reinsurance programme covering up to $20bn in potential losses to help restore confidence in shipping in the Gulf region amid ongoing tensions involving Iran.
The plan, approved by US President Donald Trump, and announced jointly with US Treasury Secretary Scott Bessent, aims to support maritime trade and stabilise international commerce by providing war risk reinsurance for vessels operating in the region.
DFC said the facility would insure losses on a rolling basis of up to about $20bn and will initially focus on coverage for hull and machinery as well as cargo.
The programme will apply only to vessels that meet specified criteria and will be implemented in coordination with the United States Central Command (CENTCOM), which oversees US military operations in the Middle East.
According to DFC, the agency has identified American insurance partners to support the programme and is working with the US Department of the Treasury on next steps for implementation.
Move to restore confidence in maritime trade through Strait of Hormuz
DFC chief executive Ben Black said the initiative was intended to help restore confidence in maritime trade and ensure the continued flow of key commodities through the Strait of Hormuz.
He said the reinsurance plan was designed to help move shipments, including oil, gasoline, liquefied natural gas, jet fuel and fertiliser through the waterway, one of the world’s most important energy transit routes.
The agency said the programme forms part of a broader effort by Washington to use DFC’s financial tools to support global trade flows and businesses operating in the Middle East during the current regional tensions.
