Ukrainian state body working with Marsh McLennan on transformation strategy

Meeting held to discuss strategy development as well as military risk insurance

Ukrainian state body working with Marsh McLennan on transformation strategy

Insurance News

By Terry Gangcuangco

The National Security and Defence Council of Ukraine (NSDC) has met with Marsh McLennan to talk about the country’s transformation strategy.

In a release, the state body said an online meeting was held with representatives of Marsh McLennan and its management consulting firm Oliver Wyman to discuss the development of the strategy, which is under the control of President Volodymyr Zelenskyy.

NSDC’s Andrii Ziuz, who thanked those responsible for facilitating the cooperation, said in the release: “Despite the pain, suffering, grief, and huge losses, this war brought Ukraine a chance to get rid of the Soviet heritage that hindered the development of our country. Therefore, the transformation process that we are working on together with Marsh McLennan should fundamentally change the approaches to Ukraine’s post-war recovery.”

The meeting focussed on the transformation strategy while also touching on the subjects of marine risk insurance and the grain corridor situation.

Separately, Oliver Wyman Group chief executive Nick Studer shared about other meetings during a visit to Kyiv.

“For some time, Oliver Wyman teams – led by Crispin Ellison – and Marsh and Guy Carpenter teams – led by Marcus Baker – have assisted the Ukrainian government in seeking investment and preparing for reconstruction,” he said in a LinkedIn post. “We helped build a war risk data platform to give transparency on war damage for investors and insurers, drawing on the Ukrainian’s extensive and detailed information on damage across the country, and fuelled by their programming and analytical prowess.

“Marsh, Guy Carpenter, and Oliver Wyman helped create the first public-private insurance scheme to cover grain exports along the Black Sea humanitarian corridor, which is already delivering grain outside the country. And we are discussing other aspects of reconstruction which will bear fruit with time. Through joined-up work across our businesses in Ukraine, Marsh McLennan has a formidable reputation with governments and industry on the subject of war risk insurance.

 “It was therefore a great pleasure… to accompany the US President’s Special Representative Secretary Penny Pritzker, Juan Luciano of ADM, and Bernie Mensah of Bank of America to Kyiv for meetings with government and Parliamentary figures to accelerate business investment for Ukraine’s recovery.”           

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