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Aon and EBRD Launch €110M Facility to Revive Ukraine's War Risk Insurance Market

Benzinga ·  Dec 12, 2024 17:10

Aon plc (NYSE:AON), a leading global professional services firm, and the European Bank for Reconstruction and Development (EBRD) have structured a tailor-made and highly innovative facility supporting the revitalization of the war risk insurance market in Ukraine. With support from Aon, the EBRD has launched a new guarantee designed to boost the provision of reinsurance capacity to private sector insurers, addressing the ongoing challenges posed by the war.

Under the new €110 million Ukraine Recovery and Reconstruction Guarantee Facility, the EBRD will support global reinsurance companies through a guarantee covering losses on specific war-related risks underwritten by local Ukrainian insurers. The structure seeks to leverage existing market infrastructure and tested risk transfer mechanisms from the insurance industry to provide the protection private sector investors require.

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