Middle East situation is tense. The London insurance market is the first to perceive the global shipping temperature.

The US-Iran conflict is still ongoing, and navigation in the Strait of Hormuz is severely disrupted. In the global shipping system, the insurance market is often the most sensitive "thermometer" of risk. London insurance market, as one of the centers of global shipping insurance pricing, has also become an important window to observe global energy and supply chain security. Once the situation in the Middle East tightens, especially with the increase in risks in navigation through the Strait of Hormuz, war risk insurance premiums for ships often rise rapidly. And these insurance costs will eventually be passed on to shipping costs, energy transportation, and even affect global trade costs. Therefore, it is often said in the industry that when the situation in the Middle East escalates, the London insurance market is often the first to feel the "temperature."