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Saudi Re to head War Risk Pool
The Saudi Reinsurance Company, "Saudi Re," announced its selection to lead the Saudi Marine Insurance Pool, following the Cabinet's approval to establish the pool. The initiative aims to enhance the readiness of the insurance market to handle the risks of war affecting goods and ships. The project seeks to support the continuity of trade movements and supply chains, reduce the impact of fluctuations in global reinsurance markets, and strengthen Saudi Arabia's position as a global logistics hub. This comes as part of efforts to develop the capabilities of the Saudi insurance market to better address the potential risks of war on maritime trade.
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