One in three Baltic tanker transits are covered by Russian insurance
- Soglasie Insurance has rapidly become the dominant Russian provider of insurance cover
- Providers boosted by Indian approval and the retreat of other Russian insurers like Ingosstrakh after UK/US sanctions
- Growing switch to Russian insurance comes as shadow fleet tankers are increasingly moving under the Russian flag
Roughly a third of all oil tankers crossing the Baltic now present insurance certificates from sanctioned Russian or Russian-linked insurers, reflecting a major shift of the shadow fleet away from International Group P&I cover
