15/05/2026
INVITATION TO JSM COLLOQUIUM SERIES
To all researchers, lecturers and postgraduate students,
We are pleased to inform the JSM Colloquium Series will be held as follows:
Title : The 2026 US–Iran War: Malaysia’s Economic Dilemma and the Insurance Fallout
Speaker : Dr. Norafidah Mohd Ramli, CFA
Senior Lecturer of Actuarial Science Program
Dept of Mathematical Sciences, Universiti Kebangsaan Malaysia (UKM)
Abstract : The sudden closure of the Strait of Hormuz in early 2026 triggered the largest oil supply disruption in modern history, removing over 10 million barrels per day from global markets and sending Brent crude above US$120 per barrel. This colloquium explores the cascading economic consequences of the conflict, from asymmetric drone warfare to the rational responses of insurers and shippers that magnified the crisis. For Malaysia, the war presents a paradox: higher oil prices boost PETRONAS revenues and fiscal coffers, yet rising import costs, subsidy burdens, and inflationary pressures threaten households and industry. Meanwhile, the global insurance sector—particularly marine, aviation, and energy lines – has become an early casualty, with war-risk premium surging 4 to 5x (4 to 5 times) and reinsurance cascades stressing systemic capacity, and force majeure declarations reverberating through energy and trade contracts. By situating Malaysia’s experience within the broader global financial and energy landscape, this session highlights how geopolitical conflict functions as economic policy, why physical chokepoints are irreplaceable, and how risk perception alone can disrupt markets. We conclude with policy implications for Malaysia and lessons for insurers, reinsurers, and economists confronting the realities of asymmetric economic warfare.
Date : 22 May 2026 (Friday)
Time : 10.00 am - 11.30 am
Medium : Face-to-face only (Venue: Bilik Mesyuarat Bangunan Sains Matematik, FST, UKM)
JSM Colloquium Series is a program held to give a space for researchers and students to share knowledge and research related to mathematical sciences. We cordially invite you and your colleagues to participate in this colloquium or to distribute this information to other members/co-workers in your department or institution. Attendance will be recorded in URUSBAKAT for UKM Staff.
Further information related to the details and schedule in colloquium can be found on the following webpage: www.ukm.my/jsmt/kolokium.
Thank you.