London, 29 May 2024: Ariel Green, a division of Ariel Re, has expanded Lloyd’s first ever Technology Performance Insurance (“TPI”) Consortium. First launched in 2023, Ariel Green successfully renewed the Consortium, while growing the number of markets participating and capacity available, to protect clean energy technologies and projects.
With the Consortium’s backing, Ariel Green now offers TPI policies with up to $150,000,000 in aggregate per risk, and more in special circumstances, allowing the major cleantech projects and stakeholders to benefit from meaningful risk transfer. The increased scale will allow the clean energy sector to access more capital and accelerate deployment of innovative technologies essential to achieving Net Zero.
"We are proud to be the Technology Performance Insurer at Lloyd's, leading the convergence of the green energy sector and the insurance industry." Jan Napiorkowski said, adding that "the demand for participation in the Consortium reflects the increasing demand for clean energy TPI as well as insurers' commitment to support this fast-growing energy sector, while adding new and uncorrelated classes of business."
Rachel Turk, Lloyd's Chief Underwriting Officer said: "Lloyd's offers a unique global platform to host this renewable consortium thanks to our global licenses and position as the world's leading specialist insurance market. We are delighted that major traditional insurance players view Lloyd's and our consortia as a great platform to identify and support specialty insurance offerings in this segment."
About Ariel Green
Ariel Green provides Technology Performance Insurance (TPI) for the clean energy industry, deploying capital through customized long-term and non-cancellable risk management solutions. As a division of Ariel Re, a premier (re)insurance business and underwriters at Lloyd’s, our team is supported by the world’s leading insurance and reinsurance marketplace. Ariel Green brings deep expertise and a collaborative approach to developing insurance products that enable clean energy projects to secure financing, get built and begin operations. Learn more at https://www.arielgreen.com.
About Ariel Re:
Ariel Re offers innovative insurance and reinsurance solutions and services through our offices in Bermuda, London, and Hong Kong, meeting the business needs of a diverse client base. Ariel Re operates principally through Syndicate 1910 in London and also offers access to Lloyd’s Europe via Syndicate 5336.
Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and J.C. Flowers in November 2020. The new owners provide Ariel Re with significant capital resources and a long track record of supporting successful, entrepreneurial businesses in the (re)insurance industry.
Contacts
Media
Imogen Morrison, Rein4ce
imogen.morrison@rein4ce.co.uk
+44 7718 127431
Ariel Re Contact Information:
Email: marketing@arielre.com
Website: www.arielre.com
Tel: 441-295-5485
