Hunton Andrews Kurth LLP is advising International Finance Corporation (IFC) on its proposed equity investment of up to 20% in two Ukrainian insurance companies – Kniazha and USG, both of which form part of Vienna Insurance Group (VIG), a leading insurance group in Central and Eastern Europe.

The investment is intended to unlock growth, strengthen resilience, and support Ukraine’s path to recovery and reconstruction, recognising the important role that non‑life insurers can play in supporting the country's economy and reconstruction. The initiative will leverage the distinct market reach of Kniazha and USG to expand access to insurance products across the country. Kniazha’s well-established presence in Western regions and rural areas and USG’s extensive operations in major cities will contribute to broad nationwide coverage.

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. Since February 2022, IFC has delivered USD 2.7 billion to support Ukraine's private sector, including over USD 1 billion in mobilised financing, as part of its Economic Resilience Action (ERA) Program for Ukraine. Through the program, IFC assists the Ukrainian private sector following the full-scale invasion by providing financing, with select projects receiving risk-mitigation support from multiple development partners.

Hunton advised on all English law and international legal aspects of the transaction. The firm worked in close collaboration with Sayenko Kharenko as Ukrainian legal counsel to IFC.

The Hunton team was led by Partner James Comyn, with support from Associates James Bennett and Lucy Robertson.