EBRD, EU and Aon expand war risk insurance facility to meet evolving needs of Ukrainian businesses
Ukraine, Oct. 13 -- Amid growing economic pressures and escalating Russian attacks, the European Bank for Reconstruction and Development (EBRD) is expanding the scope and capacity of the Ukraine Recovery and Reconstruction Guarantee Facility (URGF), its war-risk insurance scheme developed with Aon, a leading global professional services firm.With the existing €110 million capacity now fully used by Ukrainian insurers and their clients, the Bank is increasing the scheme to €150 million so that more companies in Ukraine can take out war-risk insurance and address the ongoing challenges posed by the war.Through the URGF, which is managed by Aon, the EBRD is guaranteeing global reinsurer MS Amlin against losses on war-related risks ...
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