We refer to our Circular dated 12 February 2024 “General notice of cancellation in respect of certain war risks and confirm that the same exclusion terms apply for the 2025/2026 policy year to the War Risk Cover under the following Terms & Conditions: Owners’ Fixed P&I, Charterers Cover, Offshore, Yachts, Yacht Crew Liability and Optional Covers for the following territory:

within the territorial waters of any of the following countries or places (including any port area that at the date of this notice constitutes part of such a country or place however it may hereafter be described): Indian Ocean, Gulf of Aden and Southern Red Sea

The waters enclosed by the following boundaries:

1. a) on the northwest, by the Red Sea, south of Latitude 18°N
2. b) on the northeast, from the Yemen border at 16°38.5’N, 53°6.5’E to high seas point 14°55’N, 53°50’E
3. c) on the east, by a line from high seas point 14°55’N, 53°50’E to high seas point 10°48’N, 60°15’E, thence to high seas point 6°45’S, 48°45’E
4. d) and on the southwest, by the Somalia border at 1°40’S, 41°34’E, to high seas point 6°45’S, 48°45’E

excepting coastal waters of adjoining territories up to 12 nautical miles offshore unless otherwise provided.

We also refer to the Circular dated 16 February 2024 “Buy-back cover available in respect of certain war risks” and confirm that the buy-back solution is also available for the 2025/2026 policy year.  For detailed terms and rates of the buy-back solution please contact your underwriter in Skuld.

We remind that the exclusion does not affect mutual P&I, War and FD&D cover and the Excess War Risks cover afforded to Assureds with mutual P&I Cover.