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U.S. International Development Finance Corporation (DFC) CEO Ben Black and U.S. Treasury Secretary Scott Bessent announced agreement on a detailed implementation plan approved by President Trump to deploy Maritime Reinsurance, including war risk, in the Gulf region. In close coordination with CENTCOM, this plan will restore confidence in maritime trade, help stabilize international commerce, and support American and allied businesses operating in the Middle East during the conflict with Iran.
This announcement marks a key milestone toward the rapid implementation of President Trump’s directive to utilize DFC’s innovative financial toolkit to safeguard the continued flow of trade.
“I am grateful to President Trump and Secretary Bessent for their support and approval of DFC’s plan to restore confidence in maritime trade and stabilize international markets. Working alongside CENTCOM, DFC coverage will offer a level of security no other policy can provide. We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz and flowing again to the world,” said DFC CEO Ben Black.”
Maritime Reinsurance details:
-DFC reinsurance facility will insure losses up to approximately $20 billion on a rolling basis.
-This revolving insurance offering will apply only to vessels that meet the criteria.
-Insurance will focus on Hull & Machinery and Cargo to start.
-DFC has identified best-in-class, preferred American insurance partners.
-DFC and Treasury are coordinating closely with CENTCOM on next steps in the implementation of this plan.
The U.S. International Development Finance Corporation (DFC), established in 2019 with bipartisan support under President Trump, is the international investment arm of the U.S. Government. DFC partners with the private sector to advance U.S. foreign policy and strengthen national security by mobilizing private capital around the world. DFC invests across strategic sectors including critical minerals, modern infrastructure, and advanced technology — fostering economic development, supporting U.S. interests, and delivering returns to American taxpayers.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
