Aon expands Ukraine war risk facility as MS Amlin boosts reinsurance capacity

Aon and the European Bank for Reconstruction and Development (EBRD) are expanding the Ukraine Recovery and Construction Guarantee Facility (ERGF) from €110m (£94m) to €150m (£128m).

The facility – which is designed to help Ukrainian businesses secure cover against war-related losses, largely inland cargo, motor vehicle damage and rolling railway stock – will be expanded to cover gas-related assets in transit and storage, as well as add cover for inventory held in temporary warehouses.

In addition, specialty (re)insurer MS Amlin has committed to increasing the reinsurance capacity it provides to participating Ukrainian insurers – rising from €80m (£68m) to €130m (£111m).

The firm said that the facility, which has been operating since March 2025, has provided more than €500m (£427m) of cover for goods and vehicles via nearly 10,000 individual polices.

Building resilience

Greg Case, president and chief executive at Aon, said: “With the war continuing to imperil the Ukrainian economy, war risk insurance is central to sustaining investment and building resilience in Ukraine.

“We are proud to welcome Universalna and USG to the expanded facility, which has already led to more than €500m (£427m) of reinsurance coverage for goods and vehicles across nearly 10,000 policies and will now protect more businesses, while preparing the country for recovery and reconstruction.”

Martin Burke, chief underwriting officer at MS Amlin, added: “Ukrainian businesses continue to trade and invest despite the conflict, driving strong demand for war-risk insurance. 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.”