UBBC attends Clarke Willmott conference

Clarke Willmott organised a very well attended evening conference on 4th November at 1 Wimpole st. With standing room only, we heard from many leading insurance and finance business speakers on derisking investment, financing projects, identifying partners and structuring commercial relationships between UK and Ukrainian businesses.

Lisa Yasko MP opened the event with a clear view of what is happening in Ukraine and her thanks and appeal to everyone who can help in whatever way.

Peter Swinburn Clarke Willmott Ceo paid service to Oksana Howard who organised the event and Lord Davies of Gower gave a rounded overview of the opportunities for UK business in Ukraine

Ashley Goodall of UBBC spoke on the De risking panel and made the points that derisking includes non-insurance-based activities including good due diligence, researching and familiarising companies to the Ukrainian market and making good relationship contacts before entering the market. Other issues include FDCO red travel advice, which can be managed with the right country navigation and a significant requirement for expanding UKEF remit, possibly leveraged against frozen Russian assets. Insurance is available for Cargos, people and differentiated locations and types of business, including solar farms, as BMS have just informed us, and IFI and Sovereign ECA moves are afoot to mitigate issues of fixed asset insurance, which remains an issue. Key areas of interest to investors should include: Renewable energy, Agritech, logistics and transport, and food processing in the first instance.

James Westlake of Molfar also spoke on the importance of due diligence to get to the root of company ownership, and doing the right kind of penetrative research to ensure investments are sound. Overall, the resounding messages from all panels were that Ukraine is a significant opportunity for UK business over the next 20 years, but that few are venturing there to explore and plan activities, waiting for the war to end- when everyone agreed, it would be too late as Europeans, USA and others will already have made their pitch and forged plans and relationships. Ashley ended by exhorting everyone to visit Ukraine with UBBC and see the opportunity for themselves.

The evening concluded with extensive networking.