Aon and Marsh McLennan call on (re)insurance industry to support Ukraine’s resilience

Aon and Marsh McLennan today called on the (re)insurance industry to build on the capital, expertise and historic role of the (re)insurance industry to help Ukraine’s resilience by catalysing economic growth and strengthening the country’s foundations for a post-conflict economy. The companies stressed that removing blanket exclusions, which ignore the diversity of risks across the country, would further support Ukraine’s economy.

Furthermore, since the start of the war, many global reinsurers have pooled risks originating in Ukraine, Russia and Belarus, excluding them from reinsurance contracts, thereby limiting (re)insurance capital and hampering economic growth and stability. The inclusion of Ukraine with Russia and Belarus is not rooted in the data and analysis that guides risk assessment and ignores that Ukraine, while under siege, seeks to further align itself as a free and democratic economy and member of the European Union.