SCOR launches offshore renewable power consortium

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, inbuilt partnership with Acrisure Re, signifies its dedication to offering the options required to assist shoppers in navigating the power transition and, on the identical, in supporting neighborhood and authorities efforts in decarbonizing economies. Funding in offshore renewable power has surged, with a robust pipeline of recent tasks signaling steady enhance in demand.

“Offshore renewable tasks will function pivotal contributors to international endeavors geared toward furnishing clear, inexpensive, and reliable power. It’s crucial for our business to accentuate efforts in facilitating such developments. This consortium epitomizes Lloyd’s market’s dedication to collaboration and provision of significant lead capability to an increasing market,” mentioned Oliver Paine (pictured), offshore international 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 by means of the mix of creativity and technical experience that we proceed to be a frontrunner on this area with the intention to help our companions in assembly their ESG ambitions. It actually is a testomony to the fame and imaginative and prescient of Ollie and his workforce that this consortium has come to fruition.”

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

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

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