Ban will prevent refiners buying insurance in London market
A pending EU ban on insuring tankers carrying Iranian crude oil has caused oil exports from Iran to plummet, the Financial Times reports.
The ban, due to come into force on 1 July, will prevent refiners from buying protection and indemnity (P&I) marine insurance in the London market.
Oil traders quoted in the paper said the ban will be felt in Asia particularly, and could force South Korea, Singapore, Turkey, South Africa and Taiwan to almost stop buying Iranian oil.
Traders and consultants monitoring Iranian oil exports estimate that sales will drop by 400,000 barrels a day, The FT said.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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