The National Bank of Ukraine (NBU) has urged foreign reinsurers to support Ukrainian insurers, in particular, to defer payments under concluded reinsurance agreements and continue providing reinsurance protection even if such agreements expire.

This was reported in an open letter from the National Bank to foreign reinsurers, according to the website of the Central Bank.

In addition, some insurers in Ukraine today are deprived of the opportunity to meet their obligations under reinsurance agreements regarding the timely payment of reinsurance premiums. This is due to the conditions of martial law imposed throughout Ukraine in connection with the military aggression of the Russian Federation against Ukraine, and the introduction of restrictions on the operation of the foreign exchange market of Ukraine by the National Bank from February 24, 2022.

"Ukraine is grateful to its international partners for their support in the struggle for the independence and territorial integrity of our state during the period of armed aggression by the Russian Federation. We are counting on your help in these difficult times," Deputy Chairman of the National Bank of Ukraine Serhiy Nikolaichuk said.