Insurance broker Aon and the European Bank for Reconstruction and Development (EBRD) have structured a €110 million (US$115.6 million) facility to provide reinsurance capacity for international reinsurers and Ukrainian insurance companies to cover war-related risks in Ukraine.
Under the 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.
Russia’s full-scale invasion of Ukraine in February 2022 led to a significant reduction of reinsurance capacity available to the market, as international reinsurers largely withd