Aon and EBRD Expand War Risk Insurance Facility for Ukraine
Aon plc (NYSE: AON) has partnered with the European Bank for Reconstruction and Development (EBRD) to expand the Ukraine Recovery and Reconstruction Guarantee Facility (URGF). The facility's guarantee scheme was increased from €110 million to €150 million, providing reinsurance capacity for international reinsurers and Ukrainian insurance companies. This expansion supports businesses in managing war-related risks amid ongoing Russian attacks on critical infrastructure. The URGF has already facilitated over €500 million of reinsurance coverage across nearly 10,000 policies to date. The program now includes additional lines of business such as the transportation and storage of gas assets and inventory goods in temporary warehouse storage. Ukrainian insurers UNIVERSALNA (Fairfax Financial Group) and USG have joined existing participants INGO, Colonnade, and UNIQA. The facility is supported by France, the UK, Norway, TaiwanBusiness–EBRD Technical Cooperation Fund, Switzerland, and donor coverage from the European Union under its Ukraine Investment Framework. The expansion aims to strengthen the war risk insurance market in Ukraine and support economic resilience during ongoing conflict.
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Topics: Aon EBRD reconstruction Ukraine war risk insurance