London's marine insurance market widens the Red Sea high risk zone, moving the notification line close to Saudi Arabia's Jizan port

According to an advisory dated Wednesday, 29 July 2026, London's marine insurance market has widened the area of the Red Sea it deems high risk following attacks on ships by Yemeni forces. Egyptian waters were excluded from the new zone, Reuters reported.

The guidance is issued by the Joint War Committee, which comprises syndicate members from the Lloyd's Market Association and representatives of the London insurance company market. Its decisions are closely watched and influence underwriters' considerations over insurance premiums. According to the advisory, the extended high risk zone takes in more of the Red Sea coast adjacent to Saudi Arabian ports and reaches close to the southern Saudi port of Jizan. The committee said: "Two (Saudi linked vessels) were attacked in the first few days after the (Houthi) announcement. The JWC has adjusted the Red Sea notification line northwards to reflect this development."

Yemeni forces declared a maritime embargo on Saudi ports on 20 July 2026 (29 Tir 1405), expanding attacks on tankers into waters beyond the Persian Gulf. Moving the notification line is a technical mechanism, but its practical effect is higher premiums on voyages that fall inside the new zone, a cost that ultimately passes into freight rates and the price of imported goods, including for Iran.