Aon and DFC Launch $350M War Insurance to Boost Ukraine's Recovery

Insurance broker Aon and the U.S. International Development Finance Corporation have introduced a $350 million war insurance program to support capital investment and economic recovery in Ukraine. The initiative includes $300 million for healthcare and agricultural sectors and $50 million for war reinsurance, developed with Ukraine's Ministry for Development of Economy and Trade.

Insurance broker Aon and the U.S. International Development Finance Corporation are offering a $350 million war insurance programme for Ukraine to aid capital investment and economic recovery, Aon said on Wednesday. The programme consists of $300 million in war insurance for Ukraine's health care and agricultural sectors, and $50 million in war reinsurance - insurance for insurers.

The war reinsurance programme was developed together with the Ukraine Ministry for Development of Economy and Trade, Aon said. War insurance covers businesses for war damage to their properties.

Western insurers have largely stepped back from insuring Ukraine following Russia's invasion in February 2022. However, brokers have been looking for ways to fill that gap.

Willis Towers Watson last month announced a partnership with Ukrainian insurer VUSO to provide insurance for cargo and war on land, led by Lloyd's of London syndicate Markel. The insurance covers transportation of goods overland within Ukraine's borders.

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