On November 2, 2021, INTEGRITES and the American Chamber of Commerce in Ukraine held a knowledge seminar for insurance companies and brokers on the topic "Assignment of Reinsurance Policies in Project Finance Deals".
Partner and Head of Banking and Finance at INTEGRITES Igor Krasovskiy and Senior Associate Yuriy Korchev covered:
- Reinsurance assignments in the context of project finance deals
- Legal nature of the assignment by way of security under English law
- Key provisions included in the reinsurance assignments
- Registration of assignments in the Ukrainian encumbrances register
- Regulatory risks pertaining to the assignment of reinsurance policies by local insurers
Igor Krasovskiy, Partner, INTEGRITES: «Complex project finance deals usually require assignment of reinsurance policies by way of security to the benefit of foreign lenders. However, Ukrainian insurers refuse to assign reinsurance due to many reasons, including specific regulatory requirements applicable to insurance activities. Our webinar aims to explain the nature of reinsurance assignment by way of security and address the concerns of insurers about its regulatory treatment».