Lloyd’s, VIG & Aon in pact to insure Ukrainian reconstruction

Insurance group  Lloyd's, central European insurer  VIG and global insurance broker  Aon will join forces for enhanced re/insurance capacity to support Ukrainian economic resilience and the country’s recovery and reconstruction.

“By ensuring the country’s insurance market has the necessary capital to lead on insurance solutions for its customers, backed by the financial might of the international (re)insurance industry, we can help strengthen Ukraine’s economic resilience as it recovers and rebuilds.” Lloyd’s CEO John Neal said of plans.

The goal will be fast-track access to re/insurance capacity for international and domestic companies in Ukraine with manufacturing and construction risk exposure, excluding war cover.

As a first step, the Vienna Insurance Group (VIG) joins on a bid to provide both treaty and facultative (re)insurance that will allow increased capacity for their local and international clients requiring cover for manufacturing and construction activities.

As planners see it, VIG brings the local market insights that can best tie to the global capital access brought by Aon and Lloyd’s.

“The Central and Eastern European region is our home market and we have been present in Ukraine since 2004,” VIG board member Peter Höfinger said. “With this partnership, we are pleased to be able to use the international capacities of Lloyd’s and Aon and to provide our local expertise in the Ukrainian insurance business.”

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