SCOR establishes offshore renewable energy consortium | Insurance business America
The collaboration was praised by Lloyd’s
reinsurance
By Jonalyn Cueto
SCOR has launched a new offshore renewable energy consortium, increasing its usable capacity to over $180 million.
According to a press release, the new consortium, formed in collaboration with Acrisure Re, demonstrates its commitment to providing the solutions needed to help customers address the energy transition while supporting community and government efforts to decarbonize the economy. Investment in offshore renewable energy has surged, and a strong pipeline of new projects suggests continued growth in demand.
“Offshore renewable energy projects will make a critical contribution to global efforts to provide clean, affordable and reliable energy. It is essential for our industry to intensify its efforts to enable such advances. This consortium embodies Lloyd’s Market’s commitment to collaboration and providing key lead capabilities for an expanding market,” said Oliver Paine (pictured), global offshore segment head at SCOR.
Marie Biggas, chief underwriting officer and active underwriter of SCOR Syndicate and SCOR UK, agreed.
“Sustainability is at the core of our business strategy,” she said. “By combining creativity and technical expertise, we continue to be leaders in this space and support our partners in achieving their ESG ambitions. It is truly a testament to the reputation and vision of Ollie and his team that this consortium has come to fruition.”
Rebekah Clement, corporate affairs director at Lloyd’s, praised the new consortium.
“This consortium is a great example of how Lloyd’s is working together to ensure the transition – bringing together the expertise, vision and innovation our market is known for, to protect investment and progress in building a more sustainable future.” , she said.
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2024-02-02 14:15:13
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