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UK Freezes Assets of New Zealand Insurer Over Russia Ties

2/25/2026

Summary

Story summary

The British government sanctioned Maritime Mutual, a New Zealand marine insurer, with an asset freeze.
The sanctions included director disqualification for Maritime Mutual over alleged insurance in the 'shadow fleet'.
The UK Treasury issued a temporary license to wind down existing policies.
Foreign Minister Yvette Cooper said the measures aim to disrupt financing and resources supporting Russia's aggression.
Maritime Mutual has denied breaching sanctions in response to the measures.

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Story summary

The British government sanctioned Maritime Mutual, a New Zealand marine insurer, with an asset freeze.
The sanctions included director disqualification for Maritime Mutual over alleged insurance in the 'shadow fleet'.
The UK Treasury issued a temporary license to wind down existing policies.
Foreign Minister Yvette Cooper said the measures aim to disrupt financing and resources supporting Russia's aggression.
Maritime Mutual has denied breaching sanctions in response to the measures.