Govt may launch ₹14,000 cr reinsurance fund for ships passing via Strait of Hormuz

Centre may soon announce a fund of ₹14,000 crore to give reinsurance cover to Indian vessels travelling through war-hit zones like Strait of Hormuz, a Moneycontrol report said. The fund would likely be managed by General Insurance Corporation of India. "The reinsurance fund will back insurance companies, as their costs have gone up significantly during these times,” an official said.