Aon plc (AON) has unveiled a $350 million insurance initiative in collaboration with the U.S. International Development Finance Corporation (DFC), aiming to enhance insurance capacity and stimulate new capital investment, facilitating economic recovery in Ukraine. Under this program, Aon has arranged a $50 million reinsurance facility by coordinating efforts with DFC and Ukraine's Ministry for Development of Economy and Trade. This facility supports the issuance of war risk policies for businesses operating within Ukrainian territory. Additionally, Aon and DFC have designed an extra $300 million in war risk insurance, targeting specifically Ukraine's healthcare and agriculture sectors.
In this arrangement, DFC will serve as the reinsurer for approved insurance companies providing policies in Ukraine. DFC will leverage its balance sheet to cover $50 million in war-related reinsurance risk within the country.
