Insurance deal reached for Black Sea grain shipments

Marsh McLennan, in collaboration with the Ukrainian government, the Export Credit Agency of Ukraine, Ukreximbank, Ukrgasbank and DZ Bank, have launched a new facility, which will be underwritten by insurers in Lloyd’s. It will provide insurance for the export of grain and other food supplies from Ukraine’s Black Sea ports.

John Doyle, president and chief executive officer of Marsh McLennan, said: “The launch of this insurance facility will especially benefit the developing nations that buy much of Ukraine’s grain and also help Ukraine’s future recovery and reconstruction endeavours.”

Denys Shmyhal, Prime Minister of Ukraine, added: “The launch of the Unity facility will enable Ukraine to provide vital food supplies to the world at the same time as supporting the Ukrainian economy and keeping the Black Sea open for international trade. This partnership between the Ukrainian government, Marsh McLennan and Lloyd’s of London is a sign of confidence in our economy and demonstrates that Ukraine is open for business.”

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