Raiffeisen has launched commercial war risk insurance and will insure ₴1B worth of property.

Raiffeisen Bank has launched a new service in the Ukrainian market for business clients to insure various types of property against war risks. Insurance companies will provide coverage for property that the bank can take as collateral for lending.

The product was developed in cooperation with the global professional services company, Aon, and Ukrainian insurance companies ARX, UNIVERSALNA, and INGO. The project is open for other Ukrainian insurance companies to join.

The war risk insurance tool will help Ukrainian companies minimize the risks of implementing investment projects, attract additional financing, and reduce the risks associated with the loss or damage of property due to hostilities. A business can insure real estate, equipment, and goods in circulation against the consequences of military operations.

During the year, the project plans to form an insurance portfolio worth about ₴1B in the fields of agriculture, processing, mining, retail, pharmaceuticals, energy, and fuel.