The word from Aviva and AXIS as they look to support renewables projects;
Aviva and AXIS has announced a new Lloyd’s consortium to support new renewable energy projects, helping enable progress towards the UK’s 2030 net zero ambitions.
The partnership brings together two of the London Market’s leading renewable energy insurers, combining underwriting expertise and capacity across onshore wind, solar and battery energy storage systems into a single, coordinated solution. It is also the first Lloyd’s consortium specifically focused on UK onshore renewable energy, making it a distinctive offering in the market.
The consortium is designed to simplify placement for brokers and clients, offering a clearer and more efficient route to secure cover for renewable energy risks, while helping to meet growing demand for capacity in the sector.
Operating within Lloyd’s, the ‘A-Squared Consortium’, with a total capacity of £200m, will focus on onshore renewable energy construction and operational risks for new UK renewable energy projects.
The consortium will:
- Offer up to 100% line size for qualifying risks, or take significant lead positions
- Provide consistent underwriting expertise across technologies
- Streamline quoting and placement through a coordinated approach
- Deliver shared risk engineering insights
Cover includes property damage, business interruption and third-party liability, with flexibility to support more complex requirements through referral.
Vicky Kent, Head of Renewable Energy and Engineering at Aviva, said: “The UK’s renewable energy ambitions require pace, scale and certainty to meet 2030 targets. This new consortium brings together the strength of Aviva and AXIS to offer brokers and clients a simpler, more coordinated way to secure cover for renewable projects.”
Peter Fitzsimmons, Head of International Onshore Energy at AXIS, said: “This consortium delivers large-scale capacity to meet the current demand and future growth of the UK’s onshore renewable energy industry. Through this collaborative approach, together we are providing elevated service and specialist coverage for new renewables projects across the UK, and supporting the country’s ambitions to build a world-leading clean energy industry.”
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