The National Bank of Ukraine has urged the participants of the world insurance market – specifically foreign insurers and foreign professional associations of insurers and reinsurers – not to insure the risks originating from russia and belarus.
This is according to an open letter by the NBU, copies of which the central bank has also sent out to key insurance associations in the U.S., the EU, Japan, Turkey, and other partner countries.
“The aggressor country, as well as the country that endorses its actions, must be cut off from the global insurance market. The NBU team is taking every step necessary to ensure this boycott. Our goal today is to do everything in our power to safeguard the financial backbone of the Ukrainian people and to combat russia’s and its accomplices’ aggression,” said NBU Deputy Governor Sergiy Nikolaychuk.