Aon, Development Finance Corp offer $350 mln Ukraine war insurance programme

Reuters06-12

LONDON, June 12 (Reuters) - Insurance broker Aon and the U.S. International Development Finance Corporation are offering a $350 million war insurance programme for Ukraine to aid capital investment and economic recovery, Aon said on Wednesday.

The programme consists of $300 million in war insurance for Ukraine's health care and agricultural sectors, and $50 million in war reinsurance - insurance for insurers.

The war reinsurance programme was developed together with the Ukraine Ministry for Development of Economy and Trade, Aon said.

War insurance covers businesses for war damage to their properties.

Western insurers have largely stepped back from insuring Ukraine following Russia's invasion in February 2022.

However, brokers have been looking for ways to fill that gap.

Willis Towers Watson last month announced a partnership with Ukrainian insurer VUSO to provide insurance for cargo and war on land, led by Lloyd's of London syndicate Markel. The insurance covers transportation of goods overland within Ukraine's borders.

(Reporting by Carolyn Cohn; editing by Jason Neely)

((carolyn.cohn@thomsonreuters.com; 44 207 513 4391;))

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The programme consists of $300 million in war insurance for Ukraine's health care and agricultural sectors, and $50 million in war reinsurance - insurance for insurers.    The war reinsurance programme was developed together with the Ukraine Ministry for Development of Economy and Trade, Aon said.   War insurance covers businesses for war damage to their properties.    Western insurers have largely stepped back from insuring Ukraine following Russia's invasion in February 2022.    However, brokers have been looking for ways to fill that gap.       Willis Towers Watson    last month announced a partnership with Ukrainian insurer VUSO to provide insurance for cargo and war on land, led by Lloyd's of London    syndicate Markel. The insurance covers transportation of goods overland within Ukraine's borders. 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