Aon, EBRD Launch €110M War Risk Facility for Ukraine

The European Bank for Reconstruction and Development (EBRD), in collaboration with Aon, has launched a €110 million Ukraine Recovery and Reconstruction Guarantee Facility to provide reinsurance support for war-related risks in Ukraine. This initiative aims to attract international reinsurers back into the Ukrainian market, which has seen a significant reduction in reinsurance capacity since the onset of the war. The facility is expected to enable coverage for over €1 billion worth of goods and vehicles in transit annually and support small and medium-sized businesses affected by the conflict. Key participants include international reinsurer MS Amlin and Ukrainian insurers INGO, Colonnade, and UNIQA. Supported by various donor contributions, the new scheme seeks to enhance the accessibility of war risk insurance, thereby stimulating economic activity and paving the way for Ukraine's recovery. EBRD President Odile Renaud-Basso highlighted the importance of this initiative in building confidence among businesses to protect their assets.