Aon, Lloyd’s, and Vienna Insurance Group committed to providing enhanced reinsurance capacity to support Ukraine’s country’s recovery and reconstruction efforts.
As part of the UK-Ukraine Private Finance Partnership, both Lloyd’s and Aon have committed to deliver fast-track access to supplementary foreign re/insurance capacity, in order to support both international and domestic companies operating in Ukraine, with manufacturing and construction risk exposure, excluding war cover.
Lloyd’s is committed to supporting the reconstruction of Ukraine through this new collaboration with Aon and VIGJohn Neal, CEO of Lloyd’s
By ensuring the country’s insurance market has the necessary capital to lead on insurance solutions for its customers, backed by the financial might of the international (re)insurance industry, Lloyd’s can help strengthen Ukraine’s economic resilience as it recovers and rebuilds.
By working together like this, it will play a significant role in harnessing the expertise and capabilities of Ukraine’s insurance market to strengthen and grow domestic reinsurance availability.
As a result, this will provide an essential financial mechanism to support rebuild and reconstruction efforts.
The Central and Eastern European region is our home market and we have been present in Ukraine since 2004. In line with our clearly pursued long-term strategy in our markets, we see it as our moral commitment to support Ukrainian companies in the reconstruction processPeter Höfinger, member of VIG Managing Board
With this partnership, VIG are able to use the international capacities of Lloyd’s and Aon and to provide our local expertise in the Ukrainian insurance business.
Aon and Lloyd’s have joined forces with VIG, one of the largest insurers operating in Ukraine to provide both treaty and facultative re/insurance that will allow increased capacity for their local and international clients requiring cover for manufacturing and construction activities.
by Yana Keller