Reinsurance News
Ukraine Russia conflict
All of our news coverage of the insurance and reinsurance market implications of the Ukraine – Russia conflict can be found below.
Aon and KNIAZHA VIG unveil new $25m war-risk insurance facility with US DFC
9th February 2026
Global professional services firm Aon and KNIAZHA VIENNA INSURANCE GROUP (KNIAZHA VIG), a Ukrainian subsidiary of Vienna Insurance Group (VIG), have announced a $25 million reinsurance facility agreement with the U.S. International Development Finance Corporation (DFC) that will provide reinsurance coverage for a portfolio of war risk insurance policies with ... Read the full article
IFC to acquire 20% in VIG’s two Ukrainian non-life insurers
10th December 2025
The International Finance Corporation (IFC), a member of the World Bank Group, will acquire a stake of around 20% in each of Vienna Insurance Group’s (VIG) two Ukrainian non-life insurers, USG and Kniazha, through a capital increase, subject to regulatory approvals. With IFC’s support, the companies are expected to broaden their ... Read the full article
Who’s insuring Russia’s shadow fleet?
2nd December 2025
Since Western P&I clubs and reinsurers largely withdrew from underwriting sanctioned oil shipments, an informal and opaque re/insurance ecosystem has emerged to keep Russia’s shadow fleet trading. What was once dominated by London and the International Group of P&I clubs is now sustained by a narrow set of domestic and offshore ... Read the full article
Uncertainty persists on impact of Russia aircraft lessor court ruling: Gallagher
8th July 2025
Although the English courts have now delivered a verdict in favour of the claimants in the Russia Aircraft Lessor Policy mega-trial, Gallagher has observed that "significant uncertainty" persists, especially regarding how reinsurers might respond and the potential ripple effects on reinsurance pricing that could influence the broader aviation insurance market. Readers ... Read the full article
High Court ruling on Russia / Ukraine aircraft test case has credit implications for re/insurers: Morningstar DBRS
19th June 2025
Last week, the High Court of Justice in London ruled in favour of aircraft lessors for the 2021 and 2022 underwriting years, a key development in the ongoing Russia-Ukraine aviation litigation, and one which analysts at Morningstar DBRS warn has potential credit implications for insurers and reinsurers. We reported last ... Read the full article
Fidelis mulls appeal after High Court sides with lessors in Russian aviation case
11th June 2025
Following a recent ruling by the English High Court in favour of aircraft lessors for the 2021 and 2022 underwriting years, a key development in the ongoing Russia-Ukraine aviation litigation, Fidelis Insurance Group has announced it is “reviewing all options”, including the possibility of an appeal. Readers may recall that ... Read the full article
EU approves €1.5bn Polish reinsurance scheme for transport in Ukraine
7th April 2025
The European Commission has approved, under EU State aid rules, a €1.5 billion (PLN 6.4 billion) Polish scheme to provide State-supported reinsurance of insurance for transport on the territory of Ukraine. Poland, through its public export credit agency (KUKE), will offer reinsurance to cover war-related risks, such as damage from military ... Read the full article
Ukrainian companies start to benefit from Aon & EBRD fully operational war risk insurance facility
31st March 2025
Now fully operational, the Ukraine Recovery and Reconstruction Guarantee Facility (URGF) is enabling companies operating in Ukraine to access a wider range of war risk insurance options. The URGF was launched by Aon and the European Bank for Reconstruction and Development (EBRD) back in December 2024, with global speciality reinsurer ... Read the full article
MS Amlin binds Ukraine reinsurance facility developed with Aon & EBRD
21st March 2025
Lloyd's global insurer and reinsurer MS Amlin has committed up to €110 million in reinsurance capacity over five years to support war risk policies underwritten by three Ukrainian carriers, via a scheme developed in partnership with global broking group Aon and the European Bank for Reconstruction and Development (EBRD). This €110 ... Read the full article
Fidelis reports $287.2m Russia-Ukraine aviation reserve charge, LA wildfire loss of up to $190m
20th February 2025
In a loss update ahead of its Q4 and full year 2024 earnings, specialty insurer Fidelis Insurance Holdings Limited has reported net adverse prior year development in its Aviation and Aerospace line of business of $287.2 million, which has impacted the company's performance for both periods. Fidelis explains that the adverse ... Read the full article
Insurance key to accelerate investments and support Ukraine’s recovery: Doyle & Sobolev
29th January 2025
In a recent discussion, John Doyle, CEO of Marsh McLennan, and Oleksii Sobolev, Ukraine's First Deputy Minister of Economy, addressed the critical need for insurance solutions to support Ukraine's economy during the ongoing conflict and to pave the way for post-war reconstruction. During this year’s Ukraine House Davos, Doyle emphasised the ... Read the full article
McGill and Partners launches war risk reinsurance facility for commercial property in Ukraine
9th January 2025
Global specialty insurance and reinsurance broker McGill and Partners, in collaboration with Lloyd’s Lab Insurtech FortuneGuard, has launched a war risk reinsurance facility for commercial property in Ukraine. According to McGill and Partners, this new offering is the first of its kind, leveraging AI-powered technology to enhance the understanding and underwriting ... Read the full article
DAE reaches $319m in cumulative settlements for stranded aircraft
19th December 2024
Dubai Aerospace Enterprise (DAE) has revealed that it has received $201 million in cash settlements over the past three months from selected insurance companies for aircraft previously leased to airline carriers in the Russian Federation. For context, hundreds of aircraft and engines remain stranded in Russia due to sanctions imposed by ... Read the full article
Aon & EBRD launch new Ukraine war risk insurance facility
12th December 2024
Aon and the European Bank for Reconstruction and Development (EBRD) have launched a facility supporting the revitalisation of the war risk insurance market in Ukraine, with global speciality reinsurer MS Amlin the first international reinsurance partner to join. Under this new €110 million Ukraine Recovery and Reconstruction Guarantee Facility, the EBRD ... Read the full article
Proposals to develop a UK captive market will progress in 2025, says DAC Beachcroft
4th December 2024
According to analysts at international insurance law firm, DAC Beachcroft, proposals to develop a UK captive market are expected to progress further in 2025. Analysts noted that the new UK Labour government has signalled that it could be receptive to establishing a UK-domiciled captive regime. "The London Market Group (LMG), with the ... Read the full article
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