$120mn Ukraine civil war loss for policy leader Zurich
Publish Date:Posted over 7 years ago
The conflict in the Ukraine has led to a $120mn political risk claim for which Zurich is the lead. Cargill, the large food company, abandoned a sunflower crushing plant near Donetsk before armed forces moved in to occupy the site. During this period it has been reported that the facility has been damaged by missiles. With two thirds of the risk reinsured some have said that the loss is “not really material” for Zurich. The political risk market has been extremely profitable in recent years with this latest claim being the largest for some time. Zurich has one of the industry's biggest political risk books and can write up to $150mn of cover per single risk.
