War risks insurance: steps achieved at Recovery Conference

The U.S. International Development Finance Corporation (DFC) has expanded its war risk insurance tools for Ukraine with new agreements covering reinsurance facility worth USD 50 million.

Yulia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine, made this statement during a briefing at Media Center Ukraine – Ukrinform.

“I recall that there was a component to discuss war risk insurance at every Recovery Conference in both Lugano and London. But I believe that a certain evolution of this idea, of this topic, took place at this third Conference. And the U.S. International Development Finance Corporation (DFC) has expanded its insurance tools, and new agreements will cover a USD 50 million reinsurance facility brokered by Aon with the aim of building portfolios of war risks insurance policies for companies operating in Ukraine,” the Minister of Economy explained.

According to Yulia Svyrydenko, another USD 150 million will be directed to political risks insurance to maintain existing operations in Ukraine’s agricultural and export sectors. There is also a political risk insurance contract for over USD 152 million to Ukrainian companies involved in the manufacturing sector.

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