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Key facts
Source:UK OFSI (UK HM Treasury, Open Government Licence v3.0)
The Office of Financial Sanctions Implementation (OFSI) has issued a new general licence, identified as INT/2026/8893924, as of February 24, 2026. This measure was implemented under the authority of regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019.
The licence is designed to facilitate the winding down of specific insurance policies. It provides a mechanism for managing the conclusion of coverage written by entities belonging to Maritime Mutual and its various subsidiaries.
This administrative action follows the designation of these maritime entities under the existing Russia sanctions framework. The licence allows for the orderly settlement of existing obligations before the conclusion of the specified insurance contracts.
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