Iran conflict intensifies risk for specialty insurers: Moody’s 

RIYADH: The Iran conflict has increased tail risk for Gulf specialty insurers according to Moody’s Ratings, although diversified firms are expected to face manageable losses under its baseline scenario. The agency said the conflict has effectively blocked the Strait of Hormuz, through which just five vessels per day transited in the first eight days of March, down from a pre-conflict average of around 100 daily transits, citing Portwatch data. Moody’s baseline scenario assumed the conflict would be relatively short-lived with navigation through the passage eventually resuming at scale.

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