Kyiv, 09 January 2025 – FortuneGuard, a pioneering Lloyd’s Lab insurtech, in collaboration with McGill and Partners, a Lloyd’s broker, and ARX, a leading Ukrainian insurance company, has launched a historic Ukraine War Risk Insurance Facility for commercial property and investments in Ukraine. This groundbreaking initiative provides insurance capacity of up to $50 million per risk, increasing existing limits in an unprecedented way and addressing a critical gap in the Ukrainian market.

Since the start of the war with Russia, international reinsurance markets have largely withdrawn from Ukraine, leaving businesses exposed. While prior efforts focused on mobile assets, such as cargo and logistics, medium and large businesses and investors faced limited insurance options. This new facility offers scalable and affordable coverage for commercial property and investments.

AI-Driven Risk Assessment
FortuneGuard is distributing this long-awaited insurance product in Ukraine in partnership with McGill and Partners and ARX, providing seamless access to coverage for commercial properties and investments in Ukraine. It offers tailored pricing using advanced AI-powered analytics to assess risks based on strikes, damage patterns, and proximity to critical infrastructure. The facility protects against threats such as drones, missiles, and air defense wreckage, delivering strong protection for businesses and investors in high-risk areas.

The Ukraine War Risk Insurance Facility was developed by FortuneGuard as part of Lloyd's Lab, in collaboration with McGill and Partners. It benefited from insights provided through Lloyd's Lab by experts, including Lloyd’s syndicates, brokers, and corporate specialists. Applications can be submitted at www.fortuneguard.ai.

Oleksii Omelianchuk, Founder and CEO of FortuneGuard, said: "This historic facility unlocks the bottleneck of war risk insurance for Ukraine’s economy, providing businesses and investors with the protection needed to operate and grow. It is a game-changer for Ukraine’s commercial sector and investors. Offering unprecedented policy limits of up to $50 million, it provides coverage that was previously unavailable in the market. By leveraging AI-driven analytics, local expertise, and comprehensive data, we deliver affordable and scalable coverage that directly supports Ukraine’s economic recovery.

Special thanks to McGill and Partners and ARX for their partnership and support, as well as to experts from Lloyd’s, including leading syndicates, brokers, and corporate specialists, whose insights through Lloyd’s Lab helped shape this facility.

Hamish Greenwood, Partner and Head of Crisis Management at McGill and Partners, said: “Ukrainian businesses need insurance to operate with confidence in a war zone. Before this facility, due to pricing demands, only multinational companies could reasonably consider purchasing this coverage, leaving local businesses largely unprotected.

“By harnessing the power of AI and comprehensive government data sets, we have been able to take a more informed and real-time approach to underwriting risk. This has enabled us to offer cover to businesses away from the front-line at a premium they can afford. This new product will help underpin and allow the economy to function, so that it can rebuild and recover from the devastating effects of war.”

About FortuneGuard
FortuneGuard was founded after its founder’s pre-war business, backed by prominent Ukrainian investors and VCs, suffered critical losses due to war risks. Established to protect businesses and investors, FortuneGuard builds confidence and supports Ukraine’s rebuilding. A Lloyd’s Lab Insurtech, it combines advanced analytics, war risk insurance expertise, and local market knowledge to deliver scalable and affordable insurance products. The company partners with leading insurers, reinsurers, and brokers to help businesses and investors operate in high-risk environments, fostering economic resilience and growth.

About McGill and Partners
McGill and Partners is an independent, specialty insurance and reinsurance broker, different by design and focused on addressing the sophisticated needs of our clients around the world. Structured to operate without silos, through an innovative single profit centre, we deliver our full range of expertise to clients and build long-term partnerships with them and our retail broking partners.

Headquartered in London, the company works with clients globally and has offices in Bermuda, the US, Ireland, Australia, Switzerland, and Germany. The firm has significant backing from funds affiliated with Warburg Pincus, a leading global private equity firm, alongside founder and employee ownership.

For further information, please contact: FortuneGuard Media Relations:
Email: [email protected]
Phone: +38 (044) 333-9571
Website: www.fortuneguard.ai — Visit the website to learn more or to apply for coverage.