Aon and Kniazha VIG have unveiled a new war risk reinsurance facility aimed at providing coverage for property and casualty risks arising from the conflict in Ukraine. The arrangement is designed to strengthen local insurers’ capacity to underwrite high-severity war exposures by transferring risk to global reinsurers.

Under the agreement, Kniazha VIG will serve as the primary underwriter and policy administrator for Ukrainian cedents, leveraging its regional presence and client relationships. Aon will facilitate capacity from its network of reinsurers, structuring facultative and treaty layers to optimize risk-sharing across multiple markets.

The facility represents the first dedicated reinsurance risk-transfer solution tailored to Ukrainian war exposures, addressing a critical coverage gap. It enhances market stability by providing Ukrainian insurers with reliable access to international reinsurance capacity, supporting both current policy renewals and new reconstruction-related business.