Saudi Arabia holds talks over state-backed war insurance as costs jump

Saudi Arabia is considering implementing a state-backed war insurance program amid escalating costs for insurers due to conflicts involving Iran and Houthi attacks in the region. These conflicts have led to increased insurance prices and coverage restrictions for ships and other businesses operating in the area. The move highlights the growing concern over regional security and its impact on economic activities, signaling potential government intervention to stabilize the market and protect local businesses. For a more detailed view, check out the full article on the Financial Times website.