KUKE and MIGA insure Polish investment in Ukraine
We have the first insurance of a Polish company's production complex in Ukraine issued by #KUKE following the outbreak of a full-scale war. We are proud that this is also the first case of collaboration between KUKE and MIGA (after signing the cooperation agreement in June). The political risk coverage, provided by MIGA and reinsured by KUKE, includes possible losses incurred in connection with political events, including war risk events.
The current value of the Polish manufacturer production facility in Ukraine covered by us exceeds $45 million.
This is a landmark transaction for KUKE in many respects. It is the first insurance of a Polish investment in Ukraine since the outbreak of full-scale war. It is also the first reinsurance transaction of the FDI’s political risks carried out for the investor, rather than for the financing of the bank. At the same time, it is the first ever reinsurance transaction completed for multilateral financial institution, rather than for another export credit agency. The recently signed agreement with MIGA on cooperation and mutual support in insuring the activities of Polish business in foreign markets, with special focus on Ukraine, has quickly borne fruit. We are eager to support other companies based in Poland to safely and successfully invest in Ukraine to help rebuild the country and modernize its economy.
We are committed to supporting Ukraine and the private sector, which is keeping the economy resilient in the face of Russia’s invasion. Our political risk insurance guarantee product has supported private investors who are playing a crucial role in sustaining Ukraine’s economy during the ongoing war.
KUKE’s offer in respect to Ukrainian market consist of three pillars:
- Export credit cover
- Investment insurance (greenfield, M&A, other)
- Cover for reconstruction & modernisation projects with participation of Polish contractors and suppliers.