Assignment of reinsurance policies by way of security to the benefit of foreign lenders is typically required in complex project finance deals and usually poses no issue for the insurance companies. On the contrary, the Ukrainian insurers persistently refuse to assign reinsurance for different reasons, including specific regulatory requirements applicable to insurance activities. This problem is being widely discussed in the professional community. During the webinar, speakers explained the nature of reinsurance assignment by way of security and addressed the concerns of insurers about its regulatory treatment.
Key discussion topics:
- 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
Speakers:
Igor Krasovskiy, Partner, Head of Banking and Finance practice. Igor advises across a broad range of equity and finance transactions, including complex projects, acquisitions, structured financings, international bond issue and equity securities, OTC derivative products. He is an expert in debt restructuring, bankruptcy, and insolvency. Igor acts for multilateral financial institutions, development banks, export credit agencies, high-yield lenders, project sponsors, and blue-chip borrowers. He is particularly focused on advising companies from the energy, fintech, agriculture, infrastructure, and manufacturing sectors. Igor Krasovskiy is recommended by the reputable international legal rankings The Legal500, IFLR, Best Lawyers, Who's Who Legal.
Yuriy Korchev, Senior Associate, Banking and Finance practice. Yuriy acts as legal advisor to foreign and domestic financial institutions in transactions relating to project finance, pre-export and trade finance, interbank finance, real estate finance and rescue finance, and restructuring. He is particularly experienced in international and domestic lending and borrowing (both secured and unsecured), including project finance, pre-export finance, structured commodity finance, trade finance, interbank finance, real estate finance, rescue finance, and restructurings. Industry-wise Yuriy has particularly strong expertise in energy including renewables, financial institutions (banking, credit, insurance, etc., including IFIs, investment banks), insurance and pharmaceutical sectors. Yuriy is recognized in Banking and Finance Law by Best Lawyers.