China races to deweaponise the West’s grip on marine insurance

China is accelerating efforts to build domestic marine insurance and reinsurance capacity as sanctions, war risk shocks and geopolitical tensions expose the strategic risks of relying on London-dominated insurance markets

RISING geopolitical tensions are forcing China to confront a strategic vulnerability: its dependence on the Western-dominated maritime insurance market, which Beijing increasingly fears could be used to enforce sanctions against Chinese interests.