News

On 23 April 2026, the Council of the European Union adopted its 20th package of
restrictive measures against Russia, amending Regulation (EU) 833/2014 and
Regulation (EU) 269/2014.

The Swedish Club reported a solid financial performance for 2025, supported by disciplined underwriting, risk management and capital management. This marks the third consecutive year of positive results, reflecting a consistent, long-term approach in an increasingly complex operating environment.

We’re pleased to share Gard’s Annual Report, highlighting a year of progress and delivery. We have the concluding insight in our Heavy Weather series and examine the implications of a proposed 60-day Jones Act waiver.

Update on Merger Discussions and Management Company Proposal Further to the announcement in November 2025 that the UK P&I Club and TT Club had entered into merger discussions, the Boards are pleased to confirm that those discussions continue to progress positively. Over…

The Norwegian Maritime Authority (NMA) has decided that, until further notice, Norwegian-flagged vessels will not be permitted to enter the Strait of Hormuz.

The International Maritime Organization (IMO) will convene an Extraordinary Session of its Council, on 18–19 March, to examine the impact of recent developments in the Arabian Sea, Sea of Oman and the Gulf region on international shipping and seafarers.

The Forum was organized under the support of the Shipping Deputy Ministry of Cyprus and the Shipping Deputy Minister to the President, in cooperation with the Cyprus Union of Shipowners, which also served as the Lead Sponsor.

With a new year comes new regulatory changes. For the maritime industry, this year’s changes focus heavily on operational safety, introducing more stringent standards for fire-fighting equipment, life-saving appliances, cargo securing, and winch operations.

Please note that the EU and UK have confirmed that effective from 23:01 GMT 31 January 2026 (UK) / 1 February 2026 (EU) the price cap for Russian crude oil will be lowered to US$ 44.10 per barrel.

This press release details the background to the IG’s GXL renewal rates for the 2026/27 policy year.