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Thursday, February 29, 2024

SCOR launches offshore renewable power consortium




SCOR launches offshore renewable power consortium | Insurance coverage Enterprise America















Collaborative effort acquired reward from Lloyd’s

SCOR launches offshore renewable energy consortium


Reinsurance

By
Jonalyn Cueto

SCOR has launched a brand new offshore renewable power consortium, growing its deployable capability to over US$180 million.

In accordance with a Press launch, the brand new consortium, in-built partnership with Acrisure Re, signifies its dedication to offering the options required to assist shoppers in navigating the power transition and, on the similar, in supporting group and authorities efforts in decarbonizing economies. Funding in offshore renewable power has surged, with a robust pipeline of recent initiatives signaling steady enhance in demand.

“Offshore renewable initiatives will function pivotal contributors to world endeavors aimed toward furnishing clear, inexpensive, and reliable power. It’s crucial for our trade to accentuate efforts in facilitating such developments. This consortium epitomizes Lloyd’s market’s dedication to collaboration and provision of important lead capability to an increasing market,” mentioned Oliver Paine (pictured), offshore world phase chief at SCOR.

Marie Biggas, chief underwriting officer and energetic underwriter of SCOR Syndicate and SCOR UK, agreed.

“Sustainability is on the core of our enterprise technique,” she mentioned. “It’s via the mix of creativity and technical experience that we proceed to be a frontrunner on this area with a purpose to help our companions in assembly their ESG ambitions. It really is a testomony to the status and imaginative and prescient of Ollie and his crew that this consortium has come to fruition.”

Rebekah Clement, company affairs director, Lloyd’s, praised the brand new consortium.

“This consortium is a good instance of how Lloyd’s is collaborating to insure the transition – combining the experience, foresight and innovation our market is thought for to guard the investments and progress being made to construct a extra sustainable future,” she mentioned.

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