KNIAZHA Vienna Insurance Group has finalized a $25 mn reinsurance facility with the U.S. International Development Finance Corporation to expand war risk coverage for static assets in Ukraine.
The agreement, arranged in collaboration with Aon, took effect on 1 February 2026. The facility provides DFC-backed reinsurance protection supporting a portfolio of war risk policies up to $100 mn.
It enables Kniazha VIG to extend cover to small and medium-sized enterprises as well as private individuals across the country.
The structure strengthens local underwriting capacity at a time when war-related exclusions continue to restrict insurance availability.
According to Beinsure analysts, multilateral-backed reinsurance remains one of the few scalable mechanisms capable of restoring property risk capacity in active conflict zones.
Harald Riener, member of the managing board of Vienna Insurance Group and chairman of the supervisory board of Kniazha VIG, said the partnership reinforces VIG’s long-term commitment to Ukraine. He said expanding SME and private war risk solutions supports regional recovery while building a sustainable platform for future growth.
Our partnership with DFC marks an important step in strengthening KNIAZHA VIG’s role in Ukraine’s rebuilding process and reflects VIG’s long-term commitment to the country.
Harald Riener, Member of the Managing Board of VIG and Chairman of the Supervisory Board KNIAZHA VIG
“By expanding SME and private insurance solutions and supporting regional initiatives, we are creating a resilient platform that empowers communities and unlocks new market opportunities. This collaboration positions KNIAZHA VIG to contribute to long-term stability while building sustainable growth for the future”, Harald Riener said.
Kniazha VIG ranks among the insurers to secure a reinsurance facility directly with DFC. The move positions the company as a conduit for international capital aimed at reducing conflict-related risk and catalyzing private investment into Ukraine’s rebuilding efforts.
Aon previously worked with DFC to structure a $50 mn reinsurance facility supporting war risk policies for Ukrainian businesses. This new agreement builds on that framework and broadens market reach.
Greg Case, president and chief executive of Aon, said the firm has worked to assemble public and private capital since the war began.
He said collaboration with Kniazha VIG extends prior work with DFC and applies analytics and market relationships to scale protection for Ukrainian enterprises facing war exposure.
Kniazha VIG has operated in Ukraine since 1997 and joined Vienna Insurance Group in 2005. As part of VIG, the insurer draws on European underwriting expertise while developing products tailored to domestic risk conditions.
According to our data, external reinsurance backed by development institutions now plays a central role in restoring insurability in high-conflict environments.
