International General Insurance reports unprecedented rate increases due to war-related claims in the Middle East region.
International General Insurance has raised political violence insurance premiums by thousands of percentage points following significant losses tied to the Middle East conflict. The adjustments reflect heightened risk assessments amid ongoing geopolitical instability in the region.
Prior to the conflict, pricing for such coverage remained relatively stable, with modest annual increases. The surge in claims from war-related damages has forced insurers to reassess exposure and adjust rates sharply to maintain profitability.
The move signals broader industry concerns over escalating geopolitical risks and their financial impact on underwriting portfolios.