Swiss Re’s new initiative aims to combine the firm’s extensive reinsurance balance sheet with specialised expertise to provide products and solutions that assist clients in managing their renewable energy portfolios.
The Centre of Competence serves as a coordination and expertise team, working in tandem with Swiss Re’s existing underwriting partners to deliver tailored solutions for clients in the renewable energy industry.
The Centre of Competence for Renewable Energy at Swiss Re will be operated by the company’s engineering, marine, and property underwriting teams. By consolidating their knowledge and resources into a dedicated team focused on the renewables sector, Swiss Re aims to broaden its offering of risk products in this important and rapidly growing segment.
Currently, the Centre is already supporting Swiss Re’s clients in areas such as offshore and onshore wind and solar technologies. Future plans include expanding the Centre’s scope to include support for other technologies involved in the production of renewable energy.
Swiss Re, aims to deliver efficient and effective risk management solutions
Leading the new Centre of Competence are Michele Cibrario and Miguel Senac, Co-Heads of Renewable Energy at Swiss Re. Their objective is to work closely with clients, collaborating to manage risks throughout the energy transition. By combining the reinsurer’s substantial capacity with the specialised knowledge of dedicated teams within Swiss Re, they aim to deliver efficient and effective risk management solutions.
As the renewable power sector is projected to grow as much in the next five years as it did in the previous twenty, it presents a significant opportunity for the insurance and reinsurance market. However, Swiss Re recognizes that this landscape is complex and evolving rapidly, with new technologies, climate change, and large-scale projects creating gaps in risk knowledge and underwriting data. Additionally, the rapid advancements in storage and distribution technology pose challenges for operators in this field.
To address these challenges, the Centre of Competence for Renewable Energy at Swiss Re brings together the expertise of the company’s engineering, marine, and property underwriting teams. This collaboration enables them to provide capacity and solutions that support the comprehensive insurance offerings necessary for the development of new technologies in the renewable energy sector.
JOIN Swiss Re at Insurtech Insights USA 2023
To find out more about Swiss Re’s latest strategies and innovations, join their panel of experts at Insurtech Insights USA 2023 on June 7th and 8th, at the Javits Center in New York. Swiss Re’s speakers at the event are:
Sebastien Bert, Head of Strategic Partnerships US
Jillian Badanes, Lead Product and Proposition Development
Adam Gladsden, SVP, Head of Cyber Solutions
