MSIG Asia partners with RiskPoint Group to advance renewable energy insurance in APAC

MSIG Asia Pte Ltd, a regional general insurer, has strategically partnered with The RiskPoint Group, the European managing general underwriters specialising in renewable energy, to advance renewable energy insurance in Asia Pacific (APAC).

MSIG Singapore has received approval from the Monetary Authority of Singapore (MAS) for RiskPoint’s appointment as its MGA.

The partnership aims to leverage Singapore’s position as a regional insurance hub to provide coverage for renewable energy projects across the broader APAC region.

MSIG and RiskPoint share a long-standing relationship dating back to 2008 in Europe, covering renewable energy, property, casualty, and financial lines.

The Asia Pacific region is projected to invest over $3 trillion in power generation over the next decade, with nearly 49% of the investment dedicated to wind and solar projects and 12% for energy storage, explains MSIG.

The regional insurer’s extensive regional distribution network and financial strength, combined with RiskPoint’s technical expertise and underwriting capabilities, is expected to help deliver tailored insurance solutions for the construction and operation of solar, wind, and hydroelectric assets to project owners and their appointed brokers.

Clemens Philippi, Chief Executive Officer (CEO), MSIG Asia, commented, “The renewable energy sector faces unique challenges, including regulatory changes, natural disasters, and operational risks. Our collaboration with RiskPoint will provide significant support to our broking partners and their clients in overcoming these challenges.

“Together, we are confident in making a meaningful contribution to the region’s accelerated transition towards a sustainable future. We are excited to work with RiskPoint to seize the promising opportunities ahead. This partnership is a key part of our MSIG Asia 2029 Growth Ambition, as recently outlined to the financial markets.”

Mack Eng, CEO of MSIG Singapore, added, “As Singapore solidifies its position as a regional insurance hub and accelerates its green energy transition, the opportunities in this space are immense.

“We are proud to partner with RiskPoint to support Singapore’s and the region’s green energy transition, collaborating with our business units across the Asia network to drive large-scale renewable energy projects.”

Kenneth Nielsen, CEO of RiskPoint Group, concluded, “In our pursuit to provide service excellence and expand our footprint in AsiaPac, I am proud to welcome MSIG as a business partner.

“This new partnership enhances our ability to offer unique value propositions to the region and reaffirms the RiskPoint Group’s commitment to supporting the expansion of renewable energy solutions. We are excited to be part of driving the green transition also in AsiaPac in collaboration with MSIG.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.