Swiss Re launches new centre of competence for renewable energy

Global reinsurer  Swiss Re has launched a new centre of competence for renewable energy. The initiative aims to foster the advancement of innovative technologies that assist clients in effectively managing risks through the energy transition.

The dedicated team will collaborate with the existing engineering, marine and property underwriting teams, enabling clients to benefit from efficient capacity coordination and access to cutting-edge knowledge.

The team will be led by the co-head renewable energy Michele Cibrario (pictured) and Miguel Senac.

The centre is currently providing support to clients on offshore and onshore wind and solar technologies, with plans to extend its support to other emerging technologies.

The Swiss Re Institute estimates that investments in green energy will generate additional energy-sector related insurance premiums of $237 billion by 2035.

“For the insurers and operators playing a vital role in supporting this transition there's a complex risk landscape to navigate. New technology, climate change and large, complex projects can leave gaps in risk knowledge and underwriting data. Changeable outputs and the evolution of storage and distribution technology can put operators and investors under pressure,” the company said.

“At Swiss Re we are already working alongside our clients at the forefront of renewable technology. Our engineering, marine and property underwriting teams are helping the market provide comprehensive multi-line insurance product offerings that support the development of new technologies.”

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