The word from Tokio Marine, who are going all-in on green transition insurance cover;
Tokio Marine GX (TMGX) officially launches as a fully operational underwriting business, marking a significant milestone in providing the market’s most comprehensive suite of specialist insurance and risk management solutions for businesses embarking on their decarbonisation journey.
The launch comes after months of intensive market engagement since it was created in May. TMGX has held discussions with brokers, clients, reinsurers and strategic partners to refine its offering, which have generated inquiry levels that significantly exceeded projections, with demand emerging from business sectors originally outside the company’s target scope. This exceptional market interest demonstrates the critical need for specialised insurance solutions in the green transition space.
TMGX is a unified platform for green transition insurance, enabling businesses across different industries to access specialised coverage and innovative solutions that drive and accelerate the transition to a sustainable, low-carbon economy. The approach consolidates expertise from throughout the Tokio Marine Group into a single point of contact for clients.
TMGX’s initial product range covers eighteen distinct areas of green transition risk:
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Onshore Wind
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Offshore Wind
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Solar Power
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Hydropower
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Small Modular Nuclear Reactors
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Battery Energy Storage Systems
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Decommissioning
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Interconnectors
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Carbon Capture
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Carbon Credits
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Surety for green projects
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Credit Risks
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Tax Credits
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Aquaculture
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Green Vessels
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Project Cargo
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General Liability
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Hydrogen
This product breadth reflects the expertise TMGX brings together from across the Tokio Marine Group, leveraging decades of specialised knowledge to deliver profitable and sustainable capacity throughout the green transition.
Ben Kinder, Chief Underwriting Officer of Tokio Marine GX, said: “We’re delighted with today’s launch and the tremendous market response we’ve already received. The opportunities in banking and financial services are particularly exciting. TMGX bridges a critical gap in the market by providing specialised risk solutions that enable financial institutions to confidently support sustainable initiatives. The business potential in the transition is vast and our goal is to be the leading insurer and risk adviser for green initiatives globally offering an unparalleled suite of products that drives progress.”
Fraser McLachlan, Chairman of Tokio Marine GX, said: “TMGX is built upon extensive renewable energy underwriting experience. With over two decades in the renewable energy market, we understand the risks, the challenges, and the opportunities in this sector. Combined with the full resources and global reach of the Tokio Marine Group, we have both the specialised expertise and financial capacity to support clients through every stage of their green transition.”
TMGX offers up to $500 million capacity on any single risk and is committed to serving as a prominent lead underwriter, applying decades of knowledge to ensure sustainable capacity delivery. The company expects to expand its product offering as market demands evolve and new green technologies emerge.
Comprehensive details of TMGX’s capabilities are available at tmgx.com.
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