According to ARX, the insurer paid 220 818 000 UAH for a single insured event related to critical damage to a facility in Kyiv Oblast in spring 2026.
Payment amount and the advance
This is the company’s largest payment for war risks in its history. The policy had a liability limit of USD 10 million, and ARX and the reinsurers paid an advance equal to 50% of the limit — 220 818 000 UAH.
The nature of the damage left no doubt, and a preliminary assessment indicated that the loss approached or exceeded the limit. ARX and the reinsurers did not wait for the final settlement and made the advance payment.
Circumstances of the damage and reinsurance
The facility sustained critical damage during one of the combined missile and drone attacks in spring 2026. The site was insured against war risks, including damage from missiles and unmanned aerial vehicles.
ARX shared a risk of this scale with the international market: the contract was reinsured in Lloyd’s London syndicates through broker McGill and Partners. The preliminary assessment indicated the need for a swift advance payment to enable the company’s recovery.
ARX comment and insurance policy
“A major corporate loss cannot be settled in a week. Surveys of a complex site, cost estimates and agreements with reinsurers take months, while the company is unable to operate fully during that time. Therefore, when the nature of the event is clear and the loss clearly reaches the limit, we can pay an advance without waiting for the final insurance report. That is what happened in this case: the client received payment before the final settlement was completed and was able to start restoration immediately. Increasingly, large corporate clients face war risks, and such risks can only be insured if reinsurance capacity is available. Unfortunately, as shelling has worsened, opportunities to place risks with reinsurers have diminished, but they still exist, particularly in western Ukraine.”
— said ARX Board Member Maksym Mezhebytskyi.
ARX insures corporate property against loss or damage caused directly or indirectly by missiles, drones of any type and their fragments, as well as air-defence and anti-missile defence systems. Insurance decisions are taken separately for each object.
The company has operated in Ukraine’s insurance market for 31 years and is part of the international Fairfax group.
