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In December 2024, we launched a new €110 million insurance facility in collaboration with the European Bank for Reconstruction and Development (EBRD) to provide reinsurance capacity for international reinsurers and Ukrainian insurance companies to cover war related risks in Ukraine. By making war risk insurance more accessible, we can help stimulate business activity and economic growth, paving the way for Ukraine’s recovery and reconstruction.

• Why it matters: Since the onset of the war, our commitment to Ukraine has compelled our firm to build a global public and private coalition to support and invest in the country. As the largest global broker operating in Ukraine, we have been led by our team on the ground and our colleagues and contacts around the world to put our expertise, analytics and relationships to urgent work to unlock innovative solutions to this complex challenge.

Aon’s Public-Private Coalition: Our latest announcement powerfully builds on Aon’s work over the last year to help Ukraine – representing more than $465M total in public and private capital that we have helped facilitate since June for war risk insurance in the country.

• In June 2024, we laid the foundation for this latest announcement through a $350 million, first-of-its-kind insurance program with the U.S. International Development Finance Corporation to support war risk policies for businesses in Ukraine.
• In September 2024, we called on the (re)insurance industry to remove blanket exclusions for risks originating in Ukraine, Russia and Belarus in order to help reach greater precision on the risks facing businesses and the cover they need to operate, invest and grow.

Making Headlines Worldwide: The announcement is driving coverage of our firm around the world. Read more in the Wall Street Journal, Reuters, Business Insider and The Insurer and hear from Aon President Eric Andersen on the BBC’s World Business Report.

Response to the Russia-Ukraine Conflict: In March 2022, Aon suspended business operations in Russia. At the time, Aon CEO Greg Case said, “…we have made the decision to suspend operational activity in Russia, including putting our colleagues in Russia on paid leave. Right now, our primary focus is on the safety and well-being of our colleagues in Ukraine and our colleagues’ families, and those in Russia who might be adversely impacted. And we will continue to monitor the situation to determine if we will take further actions.”

• Status update: Aon is now in the process of obtaining all necessary authorizations to complete a formal transfer of its ownership rights to a local entity to fully terminate the firm’s interests in Russia.