Lloyd's Collaborates with UN to Introduce Black Sea Grain Insurance

Lloyd's of London is in discussions with the United Nations (UN) regarding the provision of insurance cover for Ukrainian grain shipments if a new Black Sea corridor deal can be reached. The talks come as Turkey seeks to persuade Russia to return to the UN-brokered Black Sea Grain Initiative, which was halted in July. Lloyd's CEO, John Neal, confirmed that the company is prepared to provide insurance if the corridor is re-established, and discussions with the UN are ongoing. Insurance cover is crucial for shipments leaving Ukraine, and Lloyd's is also exploring ways to support players in the Ukrainian domestic insurance sector.