Insurance company Kniazha Vienna Insurance Group (Kniazha VIG), a member of Vienna Insurance Group (VIG), has entered into a reinsurance agreement with the U.S. International Development Finance Corporation (DFC). This enables the company to launch a war risk insurance mechanism aimed at protecting property assets across the territory of Ukraine, excluding areas close to zones of active hostilities (the frontline). The agreement was concluded in cooperation with Aon, a leading global professional services firm implementing DFC’s partner program to support war risk insurance for businesses in Ukraine.
Kniazha VIG and Aon announce the conclusion of a new agreement establishing a total reinsurance coverage limit for insured assets with DFC of up to USD 25 million, effective as of February 1, 2026. The reinsurance mechanism provides coverage for a portfolio of war risk insurance contracts with an aggregate limit of up to USD 100 million. This will allow Kniazha VIG to significantly expand its offering of comprehensive and innovative war risk insurance solutions for small and medium-sized enterprises (SMEs), as well as for individual clients.
Harald Riner, Member of the VIG Managing Board and Chairman of the Supervisory Board of Kniazha VIG, commented:
Our partnership with DFC is an important step in strengthening Kniazha VIG’s role in Ukraine’s reconstruction process and reflects VIG’s long-term commitment to the country. By expanding insurance solutions for SMEs and individuals and supporting regional initiatives, we are creating a resilient platform that opens up new market opportunities. This cooperation enables Kniazha VIG to contribute to long-term stability by fostering sustainable development for the future.
Kniazha VIG is among the first insurers to conclude a reinsurance limit agreement with DFC under its war risk insurance program. This strengthens the company’s role in supporting Ukraine’s economic resilience by mitigating risks caused by military actions and facilitating the attraction of private investment.
According to Dmytro Hrytsuta, Chairman of the Management Board of Kniazha VIG:
Partnership with DFC and Aon allows us to offer clients reliable, transparent, and economically sound solutions to protect property assets against war risks and to support the recovery of economic activity in the regions. For Kniazha VIG, this is not only an expansion of our product line, but also a response to the real demand from businesses and citizens for financial protection under the challenging conditions of war.
The agreement was concluded with the support of Aon, one of the world’s leading consulting and brokerage companies, which is already implementing a joint program with DFC to support war risk insurance for businesses in Ukraine.
Since the start of the war, our commitment to Ukraine has driven the company to build a global coalition of public and private sector partners to support and invest in the country,” said Greg Case, President and Chief Executive Officer of Aon. “We are proud to partner with Kniazha VIG as we continue working with DFC and other partners, leveraging our expertise, analytics, and global relationships to deliver innovative solutions to this complex challenge.
Vienna Insurance Group (VIG) is the leading insurance group in Central and Eastern Europe. More than 50 insurance companies and pension funds in 30 countries form the Group, built on long-standing traditions, strong brands, and close customer relationships. Around 30,000 VIG employees serve approximately 33 million customers every day. VIG shares have been listed on the Vienna Stock Exchange since 1994, on the Prague Stock Exchange since 2008, and on the Budapest Stock Exchange since 2022. The Group holds an A+ rating with a positive outlook from the international rating agency Standard & Poor’s. VIG closely cooperates with Erste Group, the largest retail bank in Central and Eastern Europe.
Kniazha VIG has been operating in the Ukrainian property and liability insurance market since 1997 and has been part of Vienna Insurance Group since 2005. As a VIG company, Kniazha VIG applies European expertise to develop insurance products tailored to the needs of Ukrainian clients.
