MS Amlin has bound a reinsurance scheme that could provide up to €1bn in cover annually for Ukraine’s SMEs. Developed with the European Bank for Reconstruction and Development and Aon, the scheme aims to bolster Ukraine’s war risk insurance market by enabling local insurers to begin offering inland cargo and transport cover for SMEs.

Under the scheme, MS Amlin has committed €80m in reinsurance capacity – rising to €110m – over five years to support war risk policies underwritten by three Ukrainian insurers: INGO, Colonnade and UNIQA. The facility is backed by an EBRD guarantee, allowing MS Amlin to transfer the exposure off its balance sheet. EBRD estimates suggest the facility could provide cover for up to €1bn worth of goods and vehicles each year, the equivalent of €5bn over the five-year term.

Martin Burke, MS Amlin's chief underwriting officer, said: “Expanding access to insurance is critical for supporting Ukraine’s SMEs and overall economy. By addressing a gap in reinsurance, this scheme will help boost business confidence, protect supply chains and drive economic growth. The facility highlights how specialist insurers can unlock investment in high-risk regions and demonstrates the key role of public-private partnerships in rebuilding Ukraine.”

The facility is initially supported by France, the UK, Norway and the Taiwan Business-EBRD Technical Cooperation Fund. The European Union and Switzerland have also pledged contributions, with further donor support expected to expand the EBRD guarantee over time.

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