Aon and Lloyd’s have announced a joint insurance collaboration with Vienna Insurance Group (VIG) to help support Ukraine’s economic security.  

The groups have committed to providing VIG, one of the country’s largest insurers, with reinsurance support for reconstruction efforts, amid Ukraine’s ongoing conflict with Russia.  

The partnership says the collaboration will focus on delivering fast-tracked access to international reinsurance operations to help support domestic and foreign companies offering manufacturing and construction risk exposure coverage, excluding war cover.   

VIG, which has provided insurance operations in Ukraine since 2004, says support for the country’s recovery goes beyond any financial obligation.   

“In line with our clearly pursued long-term strategy in our markets, we see it as our moral commitment to support Ukrainian companies in the reconstruction process,” VIG Board member Peter Hofinger said.  

“With this partnership, we are pleased to be able to use the international capacities of Lloyd’s and Aon and to provide our local expertise in the Ukrainian insurance business.”  

The collaboration comes as part of commitments made by the UK-Ukraine Private Finance Partnership following last week’s Ukraine Recovery Conference in London. 

“This unique commitment from Lloyd’s, VIG and Aon brings together the insurance industry’s proven expertise in innovative risk management and capital solutions, and so with urgency and energy we will help to restore social well-being to citizens, communities and corporations in Ukraine,” Aon Global Chairman of Reinsurance Solutions Dominic Christian said.