EBRD expands Ukraine war-risk insurance facility as business demand rises

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EBRD expands Ukraine insurance

Highlights

EBRD expanded the Ukraine Recovery and Reconstruction Guarantee Facility from 110 million euros to 150 million euros after full initial capacity usage by local insurers.
The broader facility now covers gas-related asset transport and temporary storage, and adds USG and Universalna alongside existing insurers INGO, Colonnade, and UNIQA.
The facility’s first tranche supported over 500 million euros in reinsurance for nearly 10,000 policies, with premiums exceeding claims and no EBRD guarantees called by MS Amlin.

Expanded facility and broader coverage

As reported by EBRD, the Ukraine Recovery and Reconstruction Guarantee Facility, developed with Aon, is being expanded after the scheme's existing 110 million euro capacity was fully used by Ukrainian insurers and their clients. The larger 150 million euro facility is intended to help more businesses secure war-risk insurance as the conflict continues to pressure operations across the country.

Through the facility, which Aon manages, the EBRD guarantees global reinsurer MS Amlin against losses on war-related risks underwritten by participating Ukrainian insurers. That structure allows local insurers to obtain reinsurance coverage and extend their own war-risk products to businesses.

The additional capacity is backed by donor coverage from the European Union under its Ukraine Investment Framework. It also brings two more Ukrainian insurers into the scheme, USG, owned by Vienna Insurance Group, and Universalna, owned by Fairfax Financial Group of Canada, alongside existing participants INGO, Colonnade and UNIQA.

The scope of the facility is also widening. Coverage now includes the transport and storage of gas-related assets and goods in temporary warehouse storage, in addition to inland cargo, motor vehicle damage and railway rolling stock already covered by the programme.

Support for insurers and the wider economy

Ukraine is facing intensified Russian attacks on energy, transport, logistics and civilian infrastructure, while the renewed blockade of Black Sea ports is adding to pressure on trade and business activity. In that environment, access to reliable war-risk insurance is becoming a key tool for companies seeking to manage disruption and continue operating.

The initial 110 million euro guarantee, backed by donor coverage from France, Norway, Switzerland, the UK and the TaiwanBusiness-EBRD Technical Cooperation Fund, is fully deployed and has supported more than 500 million euros of reinsurance coverage for goods and vehicles across nearly 10,000 policies. Premiums from those policies have so far exceeded claims, and MS Amlin has not needed to call on the EBRD guarantee, indicating that Ukraine's war-risk insurance and reinsurance market can function on a commercial basis.

The EBRD remains Ukraine's largest institutional investor and has increased its activity in the country since Russia's full-scale invasion. It has deployed 11 billion euros in Ukraine since 2022, including a record 2.9 billion euros in 2025.

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