EBRD-backed scheme expands to €150m as additional insurers join and cover broadens to include gas assets and warehouse inventory
Lloyd’s re/insurer MS Amlin has increased its participation in the Ukraine Recovery and Reconstruction Guarantee Facility (URGF) as the EBRD-backed war-risk scheme expands from €110m to €150m.
The London market carrier is renewing its existing €80m participation and providing additional reinsurance capacity, taking its total URGF support to €130m.
The facility, structured by Aon, enables participating Ukrainian insurers to write war-risk business with reinsurance support from MS Amlin.
An EBRD guarantee protects the reinsurer against losses arising from covered war risks.
MS Amlin was the first reinsurer to join the facility when it launched in March 2025.
Since then, the scheme has supported more than €500m of protection across nearly 10,000 policies covering goods and vehicles.
The expanded facility will add cover for gas-related assets in transit and storage, as well as inventory held temporarily in warehouses.
Existing cover includes inland cargo, motor vehicle damage and railway rolling stock.
Martin Burke, chief underwriting officer, MS Amlin, said: “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.”
The additional capacity will allow existing insurers INGO, Colonnade and UNIQA to write more business.
USG, part of Vienna Insurance Group, and UNIVERSALNA, part of Fairfax Financial Group, will also join the scheme.
Aon’s president and CEO Greg Case said: “With the war continuing to imperil the Ukrainian economy, war risk insurance is central to sustaining investment and building resilience in Ukraine.”
He added that the facility “will now protect more businesses, while preparing the country for recovery and reconstruction.”
Burke said: “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,” he added.
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