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Ascot Announces Launch of New Facility to Support Ukraine Grain Export

LONDON, 15 January 2024:

Ascot, a pre-eminent global (re)insurance provider, announces the launch of a new facility, Unity, to enable the export of grain and other critical food supplies from Ukraine.

Led by Ascot, and in collaboration with Marsh, Ukrainian institutions, and Lloyd’s, Unity will provide up to $50 million Hull War and War Protection & Indemnity (P&I) insurance. Unity access is open to all Lloyd’s brokers, with Ukrainian banks providing standby letters of credit to support the facility.

The launch of Unity underscores Ascot’s continued commitment to support global humanitarian efforts and mitigate the supply chain challenges and subsequent human suffering caused by food insecurity worldwide.

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