Aon, EBRD expand Ukraine guarantee facility to €150 million
Expansion to €150 million helps deliver more than €500 million reinsurance coverage, Aon says MS Amlin renews €80 million participation and raises total support to €130 million Facility now covers gas-related asset transport and temporary warehouse inventory goods By Navneeta Nandan Oct 13 (The Insurer) — Aon and the European Bank for Reconstruction and Development (EBRD) have expanded the Ukraine war-risk insurance facility to €150 million ($167.7 million) from €110 million, the broker said on Tuesday. The Aon-managed Ukraine Recovery and Reconstruction Guarantee Facility (URGF) has led to more than €500 million of reinsurance coverage for goods and vehicles across nearly 10,000 policies to date, Aon said. Through the URGF, EBRD is providing MS Amlin with a guarantee covering losses on war-related risks underwritten by local Ukrainian insurers participating in the facility. MS Amlin has renewed its existing €80 million participation in the facility and is providing additional reinsurance capacity, increasing its total support to €130 million, it said in a separate announcement. Following the expansion of the facility, Ukrainian insurers Universalna (Fairfax Financial Group, Canada
7 million) from €110 million, the broker said on Tuesday. The Aon-managed Ukraine Recovery and Reconstruction Guarantee Facility (URGF) has led to more than €500 million of reinsurance coverage for goods and vehicles across nearly 10,000 policies to date, Aon said. Through the URGF, EBRD is providing MS Amlin with a guarantee covering losses on war-related risks underwritten by local Ukrainian insurers participating in the facility. MS Amlin has renewed its existing €80 million participation in the facility and is providing additional reinsurance capacity, increasing its total support to €130 million, it said in a separate announcement.
Following the expansion of the facility, Ukrainian insurers Universalna (Fairfax Financial Group, Canada) and USG (Vienna Insurance Group) join previously announced local market participants INGO, Colonnade and UNIQA. The facility, backed by France, the UK, Norway, TaiwanBusiness—EBRD Technical Cooperation Fund and Switzerland, now also covers transportation and storage of gas-related assets. It has added a new line of business to protect inventory goods in temporary storage in warehouses alongside its existing coverage for inland cargo, motor vehicle damage and railway rolling stock.
The additional capacity is supported by donor coverage from the European Union under its Ukraine Investment Framework. As policies expire, the capacity can be reused, allowing the facility to support a greater volume of insured trade and economic activity over time, MS Amlin added. "Expanding the facility will allow local insurers to meet more of that demand and provide cover across a broader range of commercial risks. This expansion is an important step towards building a broader, more sustainable market.
Bringing in more reinsurers and additional capacity will be vital to supporting Ukraine's economic resilience and longer-term recovery," Martin Burke, chief underwriting officer of MS Amlin, said. Aon and EBRD launched the war-risk insurance facility for Ukraine in December 2024. In March 2025, MS Amlin bound the facility's first risks, after committing €80 million in reinsurance capacity. Aon and Kniazha Vienna Insurance Group launched a separate $25 million Ukraine war-risk reinsurance facility in February 2026.
In August 2025, the government of Ukraine penned a memorandum of understanding with a consortium of insurers and brokers to signal their commitment to the development of the domestic Ukrainian insurance market. The signatories included Marsh McLennan, Aon, MS Amlin, Fairfax and the National Association of Insurers of Ukraine.