Ukrainian companies now have access to a new war risk insurance program launched by the EBRD in collaboration with international insurance firms. This was made possible by the Ukraine Recovery and Reconstruction Guarantee Facility (URGF), which is now fully operational. The EBRD guarantee can provide insurance coverage for goods and transportation valued at up to €1B per year. This will make war risk insurance more accessible, support economic activity, and contribute to Ukraine’s reconstruction.
The EBRD offers guarantees to reinsurance companies covering war-related risks, enabling international insurers to re-enter the Ukrainian market and create additional opportunities for local insurance companies. The first reinsurer to participate in this mechanism was an international firm, MS Amlin. As a result, Ukrainian insurers INGO, Colonnade, and UNIQA were able to begin selling war risk insurance policies.
The program encompasses insurance for domestic cargo transportation, damage to motor vehicles, and railway rolling stock. The first policies have already been issued to agricultural enterprises, and the total amount of reinsurance coverage surpasses €5M.