Aon Unveils $350M Program for Ukraine Recovery

 


Aon plc, a prominent global professional services firm, has unveiled a groundbreaking $350M insurance program in collaboration with the U.S. International Development Finance Corporation to enhance insurance capabilities and drive new capital investment for economic recovery in Ukraine.


As a major player in the Ukrainian market, Aon has spearheaded a comprehensive $50M reinsurance facility, in partnership with DFC and the Ukraine Ministry for Development of Economy and Trade, to facilitate the issuance of on-the-ground war risk policies for businesses in Ukraine. Additionally, Aon and DFC have jointly developed a $300M war risk insurance program tailored for Ukraine's health care and agriculture sectors.


Eric Andersen, president of Aon, emphasized the importance of protecting capital through this innovative program with the U.S. International Development Finance Corporation to stimulate investment in Ukraine during a critical period. The initiative aims to bolster the local insurance industry's ability to assess risk accurately, attract essential new capital to Ukraine, and enhance the country's capacity for reconstruction.


DFC will serve as the reinsurer for qualified insurance companies issuing policies in Ukraine, assuming $50M of war-related reinsurance risk to support the market. This initiative builds on DFC's established models of on-lending and insurance underwriting, particularly for war and political risks, to meet the growing demand for accessible and affordable war risk insurance in Ukraine's health care and agriculture sectors during the reconstruction phase.


More Information : https://www.techdogs.com/tech-news/pr-newswire/aon-announces-first-of-its-kind-350m-insurance-program-to-accelerate-new-capital-investments-and-economic-recovery-in-ukraine

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