Reinsurance News
renewable energy
Marsh launches renewable energy facility for solar & BESS risks
5th May 2022
Re/insurance broker Marsh has announced the launch of a new renewable energy facility that provides dedicated insurance capacity for mid-scale solar and battery energy storage system (BESS) risks in the US and Canada. Marsh notes that renewable energy companies have been challenged to find enough capacity for smaller standalone solar and ... Read the full article
CCR invests €100m in low-carbon hydrogen fund
8th March 2022
French state-owned reinsurer CCR Re has announced that it is investing €100 million in the Clean H2 Infra Fund, which is managed by Hy24 with the objective of reducing global greenhouse gas emissions. The Clean H2 Infra Fund is the largest hydrogen fund in the world, and invests in strategic projects ... Read the full article
Swiss Re CorSo and green energy financier in $500m co-investment program
1st February 2022
Swiss Re Corporate Solutions has entered into a partnership with renewable energy financier NORD/LB on a $500 million ESG co-investment programme to enable more investment into renewable energy projects. The programme is ESG-certified by Sustainalytics and uses pre-agreed eligibility criteria to allow more efficient deployment of capacity to renewable energy projects. The ... Read the full article
Lloyd’s Asia sets up renewable energy consortium
23rd December 2021
Insurance and reinsurance marketplace Lloyd’s has launched a new renewable energy consortium for the APAC region and supporting countries. Developed by the Lloyd’s Asia platform, the consortium pools underwriting expertise and capacity among the participating syndicates for renewable energy risks. The new consortium has been developed by Chaucer, Markel, and Munich Re ... Read the full article
GCube launches renewable energy offering, backed by Clir
17th November 2021
GCube has launched a new data-powered insurance offering to support the growth of the renewable energy industry, with support from Clire, a company dedicated to maximizing project returns from renewable energy assets. The offering will leverage AI-led analytics and data sets to offer enhanced terms and reduced premiums for wind and ... Read the full article
Underwriting facility eyes geothermal development in Kenya, Ethiopia
3rd November 2021
The UK Government's financial sector program FSD Africa and Parhelion, a UK-based specialist energy and climate risk finance advisory firm, are to launch an underwriting facility aimed at helping de-risk the early-stage development of geothermal energy projects in Kenya and Ethiopia. Kenya’s power demand is growing 20% faster than GDP, while ... Read the full article
Quality control issues behind rise in offshore wind claims: GCube
2nd November 2021
A new report by renewable energy underwriter GCube Insurance argues that corrective action is needed within the offshore wind sector to incentivise quality control processes and accountability for financial losses. Analysts noted that increasing focus on cost-competitiveness has led to prolific cost-cutting in the design, manufacture, construction and operation of offshore ... Read the full article
Munich Re and EDF Renewables take stakes in Cali energy projects
21st September 2021
EDF Renewables North America (EDFR) and MEAG, acting in its capacity as Munich Re’s global asset manager, have announced a strategic investment that will see a subsidiary of Munich Re acquire a 50% stake in two renewable energy projects in California. The projects are located adjacent to one another in Riverside ... Read the full article
Evolution of nat cat events remains a key challenge for the energy space: Munich Re Syndicate’s Timothy Lee
23rd June 2021
The increased unpredictability and severity of natural catastrophe events will continue to be the key challenges for the energy insurance sector, according to Timothy Lee, Energy and Engineering Underwriter, Munich Re Syndicate Singapore. In an interview with Reinsurance News, Lee noted that the energy insurance market continues to harden, although at ... Read the full article
Renewable energy focused MGA Praeventus launches
7th May 2021
Praeventus B.V., an independent managing general agent (MGA) for the renewable energy sector, has announced the launch of its renewable energy platform, which will commence underwriting risks at June 1st, 2021. Praeventus will act as an MGA for a select panel of re/insurers from across the international insurance company market and ... Read the full article
Allianz (AGCS) & Nephila provide hedge structure for Texas solar project
8th January 2021
The capital solutions unit of Allianz Global Corporate & Specialty (AGCS) and Nephila Climate have entered into a new a proxy generation power purchase agreement (pgPPA) for a 153 megawatt solar farm in Texas. Briar Creek solar farm, which is owned by Lightsource bp, is expected to start commercial operation at ... Read the full article
Aon appoints Guido Benz as CEO of Global Renewables business
10th November 2020
Aon, the global insurance and reinsurance brokerage firm, has announced the appointment of Guido Benz as Chief Executive Officer (CEO), Global Renewables, Commercial Risk Solutions, effective spring 2021. In his new role, Benz will be based in Zurich and will report to Lee Meyrick, Co-Lead, Global Specialties and CEO, Global Marine, ... Read the full article
AXIS adds trio to US renewable energy team
3rd November 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the addition of three underwriters to its US Renewable Energy Team. Kristopher Williams and Melissa Marsh have both joined the team as Renewable Energy Underwriters, while Kevin Motta has joined as an Assistant Underwriter. All three will focus ... Read the full article
GCube adds three to offshore wind team
22nd October 2020
GCube, a provider of insurance services for renewable energy projects, has announced the addition of three new underwriters to its offshore wind team. The hires include Joshua Cantwell, Zoe Massie and Georgia Ward. Prior to joining GCube, Cantwell held the position of Class Underwriter and then Interim Head of Energy for Talbot ... Read the full article
AXA XL’s New Energy Risk insures fuel cell project in South Korea
21st October 2020
New Energy Risk (NER), an affiliate of global re/insurer AXA XL, has provided an insurance solution to Bloom Energy to facilitate the purchase and financing of fuel cells in South Korea. NER developed an insurance solution and monitoring schedule that addresses the operation of the fuel cells for 15 years. NER has ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
