Reinsurance News
GCube
Tokio Marine GX warns of growing insurance “protection gap” threatening green transition
1st October 2025
Tokio Marine GX (TMGX), a specialist insurer evolving from renewables underwriter GCube Insurance, has issued a stark warning about a growing “protection gap” in the insurance market that threatens the success of the global green transition. Drawing on more than 25 years of underwriting experience and data, the firm’s latest market ... Read the full article
Tokio Marine GX launched to further promote green transformation
28th May 2025
Tokio Marine Holdings, Inc. has launched Tokio Marine GX, a new international offering aimed at advancing green transformation, founded upon GCube, an underwriter of renewable energy products. The launch furthers the Group’s efforts toward carbon neutrality and the transition to a decarbonised society. Tokio Marine Group aims to contribute to social development ... Read the full article
Nat Cat & extreme weather threatens insurability and bankability of renewables worldwide: GCube
22nd April 2025
Natural catastrophes and un-modelled extreme weather risks have now become a global threat for renewable energy markets, raising concerns about the long-term bankability and viability of clean energy projects as the industry expands, according to GCube’s “Known Unknowns” report. Fraser McLachlan, CEO of GCube Insurance, said: “For years, the US has ... Read the full article
GCube strengthens commitment to US renewables market with new hires
12th February 2025
GCube Insurance, an underwriter of renewable energy products, has announced the appointments of three new Associate Underwriters – Renewable Energy at its New York office. This move reinforces GCube’s commitment to the US renewables sector and its focus on developing specialised underwriting expertise to support market resilience. GCube remains fully committed to ... Read the full article
GCube unveils $100m Lloyd’s consortium to support BESS sector
16th July 2024
GCube Insurance, an underwriter for renewable energy products, has launched a new consortium, comprised of six Lloyd's syndicates, in a move that is set to provide battery energy storage system (BESS) developers and asset owners worldwide with up to US $100 million of 'A-rated' insurance capacity. It's important to highlight, that ... Read the full article
Insurers ready to back battery storage sector despite concerns over failures: GCube
1st March 2024
Despite concerns over the frequency of failures in the global Battery Energy Storage Systems (BESS) market, insurers are increasingly ready to support the sector, a new report reveals. The report, titled "Batteries Not Excluded: Getting the insurance market on board with BESS," produced by GCube, a leading underwriter of renewable energy ... Read the full article
Solar industry faces hailstorm threat, GCube urges immediate action with innovative solutions
8th December 2023
In a recent report titled "Hail No! Defending Solar from nature’s cold assault," GCube Insurance underscores the urgent need for practical solutions to the growing threat of hailstorms on the solar industry. With climate change-induced hailstorms on the rise, the insurance market and the future viability of solar projects are facing ... Read the full article
GCube Insurance partners with Renew Risk to enhance renewable energy risk analytics
3rd November 2023
GCube Insurance, a prominent underwriter for renewable energy projects, is entering into a strategic partnership with Renew Risk, a leading Software-as-a-Service (SaaS) risk analytics provider. This collaboration is set to bolster GCube's capabilities in offshore wind risk analytics and modeling, with significant benefits for its offshore wind clients. Under this partnership, GCube ... Read the full article
Offshore wind turbine scaling is creating unsustainable market risks: GCube
10th May 2023
GCube’s new report, titled “Vertical Limit: When is bigger not better in offshore wind’s race to scale?” shows how offshore wind turbine scaling is creating unsustainable market risks. The report compiles 10 years worth of the company’s claims data and draws on evidence from experts across the offshore wind sector ... Read the full article
GCube announces official launch in Australia
23rd February 2023
GCube, an underwriter for renewable energy projects and member of the Tokio Marine Group, has officially launched in Australia, offering a range of products to meet the risks faced by local renewables developers. GCube products will now be underwritten on locally authorised paper issued by Tokio Marine & Nichido Fire Insurance ... Read the full article
US renewables facing growing extreme weather risks: GCube
21st October 2022
According to a new report released by GCube, the financial impacts of natural catastrophe events are outpacing the development of mitigation strategies in the North American renewables market. In its North American Nat Cat Update, GCube stated that market correction has not gone far enough to address the growing severity of ... Read the full article
GCube announces opening of Houston office amid underwriting team expansion
10th August 2022
GCube, a member of the Tokio Marine HCC group, has announced the opening of its Houston office, accompanied by a new senior appointment in Sarah Bratton. Bratton joins GCube from Ascot Underwriting and holds over ten years of experience in the energy and power generation underwriting business. She underwrites property and ... Read the full article
GCube promotes Josh Shimali and hires Olly Litterick
13th July 2022
GCube has appointed two people to senior positions within the organisation as part of its move to strengthen the company’s strategy. Josh Shimali, who has been with the business for over a decade, has been promoted to Head of Onshore Underwriting. He will take responsibility for planning and delivering on GCube’s overall ... Read the full article
GCube expands global claims team
20th June 2022
GCube has expanded its global claims team by appointing Darren Askari, Adan Mendoza, Sierra Lenz, and James Papazis to new roles. The firm said that Askari will join its Newport Beach office as North Americna claims manager. He will be joined in Newport Beach by former PERse colleague Adan Mendoza, who ... Read the full article
GCube report reveals major losses for renewable energy developers and insurers
13th June 2022
Renewable energy insurers and developers face major losses due to unstable, under-supported supply chain risks, according to the 2022 GCube Insurance market report. The Covid-19 pandemic and spiralling energy prices are among the factors that contributed to this outcome. The report findings expose inherent risks of limited supply chain investments, isolated supply ... Read the full article
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