The world’s leading global brokers – Aon and Marsh McLennan – have urged the insurance and reinsurance industries to build upon their capital, expertise and historical roles to help Ukraine's resilience by catalysing economic growth and strengthening the country's foundations for a post-conflict economy.

The firms emphasised that the removal of blanket exclusions, which ignore the diversity of risk throughout the country, would further support for Ukraine's economy.

A statement said: “Additionally, since the start of the war, many global reinsurers have grouped risks originating in Ukraine, Russia, and Belarus together, excluding them from reinsurance contracts, limiting [insurance and reinsurance] capital and impeding economic growth and stability.

“The inclusion of Ukraine with Russia and Belarus is not rooted in the data and analytics that drive the assessment of risk and overlooks that Ukraine, while under siege, seeks to further align as a free and democratic economy and member of the European Union.

The companies are already working with the Ukraine, US and UK governments, along with many other international organisations, to support Ukraine's economy as it endures ongoing attacks and accelerate investment in the country's eventual economic recovery.