DUAL UK, the underwriting arm of Howden Group Holdings, has announced a new capacity agreement with French insurer AXA to support its Natural Resources product.
Align with Net Zero objectives, this product focuses on renewable energy technologies, including solar, wind power, and hydro.
The initiative seeks to empower renewable technology operators through specialist-driven underwriting and a dedicated focus on established, sustainable methods.
With A+ rated security, the product provides cover up to £50 million, with a target premium range up to £150,000 from £2,500 minimum premium.
The renewables insurance market is expanding rapidly, with the International Underwriting Association reporting over 15% growth in 2024, a trend that is expected to persist as investments increase in both new and existing renewable assets.
With renewables forecasted to provide nearly half of the world’s electricity by 2030, the need for specialised insurance solutions will likely grow, DUAL highlights.
Steve Kelly, Managing Director of Construction at DUAL UK, developed the Natural Resources product.
An experienced executive with over 35 years’ experience in the insurance industry, Kelly has been with the company since January 1, 2025, leveraging his deep technical knowledge of the construction and natural resources market.
Catherine Dixon, Chief Underwriting Officer, DUAL UK, commented: “Steve’s extensive experience and knowledge of the Natural Resources market make him uniquely positioned to lead the development and delivery of this new product, bringing insight and confidence to our partners.
“With the backing of an A+ rated carrier, this launch demonstrates how DUAL continues to successfully extend into new sectors, supporting clients with their drive to Net Zero. It’s a powerful example of collaboration, expertise and commitment to drive progress in the renewable energy sector.”
