Lloyd’s of London is in discussions with the United Nations about providing insurance coverage for Ukrainian grain shipments if a new Black Sea corridor deal can be arranged, according to CEO John Neal. This comes as NATO member Turkey tries to persuade Russia to return to the UN-brokered Black Sea Grain Initiative, which was abandoned in July. Insurance coverage is essential for Ukrainian shipments, and Lloyd’s is in talks with the UN to determine how this can be achieved. Lloyd’s has estimated a net loss of £1.4 billion ($1.74 billion) from the Ukraine conflict, with insurer Beazley also providing coverage for grain corridor ships.
Lloyd’s of London in talks with UN over insurance for Ukrainian grain shipments.
