Liberty Specialty Markets enters project finance market
Liberty Specialty Markets (LSM), a part of Liberty Mutual Insurance, has launched a new project finance insurance offering as part of its global financial risks (GFR) product range.
Liberty’s GFR team has expanded its coverage to include credit insurance for large-scale energy and infrastructure projects. Led by Sam Wilde, senior underwriter, the team has now bound its first project finance transaction, a UK-based renewables project.
LSM is offering up to $50 million cover per transaction for up to 15 years duration. The team has developed a analytics-driven underwriting strategy, benefiting from access to over 30 years of project finance performance data.
"This is an exciting development for us," said Peter Sprent, Liberty’s head of global financial risks. "Large-scale project finance is a non-correlating, diversifying risk that enhances the GFR book of business. With huge growth in major renewables projects, even in the traditional oil-rich territories like the Middle East, we see considerable potential for this type of product. Feedback from our brokers has also demonstrated a clear appetite within the market for this LSM product.
"These are long-term projects with very lengthy lead times and the need for a holistic approach to underwriting. By combining data-driven analytics with our team’s in-depth experience, we believe we can provide considerable value to our core clients while supporting projects that make a positive impact on both mature and emerging economies."
Don't miss the latest industry news - Sign up to our free email newsletters
Reformed NFIP bill praised by industry groups
Cat losses will boost pricing in commercial insurance: Zurich
Xceedance invests in re/insurance blockchain startup
Ascot revises 2018 plan to anticipate steep growth in GWP
Italian insurers remain robust after Solvency II transition
Charles Taylor InsureTech targets life with new cloud-based platform
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze