In a strategic move to bolster its presence in the offshore renewable energy sector, SCOR has officially launched a new consortium, instantly elevating its total deployable capacity to $180 million.
The consortium, effective immediately, underscores SCOR’s commitment to sustainability and its proactive role in supporting the global energy transition.
With a focus on providing insurance solutions to the offshore renewable energy industry, SCOR leverages its technical expertise, regional knowledge, and a deep understanding of clients’ needs to strengthen its position as a leader in the field.
The consortium is poised to contribute significantly to achieving sustainability goals while assisting clients in navigating the complexities of the energy transition.
The offshore renewable energy market has witnessed a surge in investment, and SCOR’s move aligns with the growing demand for insurance solutions in this dynamic sector.
The consortium reflects the dedication of the Lloyd’s market to collaborative efforts, providing essential lead capacity to meet the expanding needs of the offshore renewable energy market.
Oliver Paine, offshore global segment leader, emphasised the pivotal role of offshore renewable projects in the global pursuit of clean, affordable, and reliable energy.
He highlighted the consortium as a manifestation of the Lloyd’s market’s commitment to facilitating progress in this vital area.
Marie Biggas, Chief Underwriting Officer (CUO) and active underwriter of SCOR Syndicate and SCOR UK, underscored the centrality of sustainability in the company’s business strategy.
She credited the consortium’s realisation to the combination of creativity and technical expertise, positioning SCOR as a leading force in supporting partners in achieving their Environmental, Social, and Governance (ESG) ambitions.
Rebekah Clement, Corporate Affairs Director at Lloyd’s, commended the consortium as a prime example of Lloyd’s collaborative approach to insuring the transition.
She highlighted the collaboration’s ability to draw upon Lloyd’s expertise, foresight, and innovation, reinforcing the market’s commitment to protecting investments and advancing progress toward a more sustainable future.
