Accelerating Renewable Energy Insurance in Asia-Pacific
A Strategic Partnership Takes Shape
MSIG Asia has taken a significant step towards advancing renewable energy insurance in the Asia-Pacific region by appointing RiskPoint Group as the managing general agent (MGA) for its Singaporean unit. This move, approved by the Monetary Authority of Singapore (MAS), aligns with MSIG Asia’s 2029 Growth Ambition and leverages Singapore’s position as a regional insurance hub.
Renewable Energy: A Key Driver of Progress
The importance of renewable energy cannot be overstated. As countries in the region intensify their efforts to combat climate change and enhance energy security, MSIG recognizes the critical role that renewable energy plays in driving both economic and environmental progress.
Addressing Demand for Insurance
By combining MSIG’s regional network with RiskPoint’s underwriting expertise, the partnership aims to address the growing demand for insurance in the renewable energy sector. The focus will be on providing coverage for the construction and operation of solar, wind, and hydroelectric projects, supporting project owners and their brokers.
A Proven Collaboration
MSIG and RiskPoint have a long history of collaboration, dating back to 2008 in Europe, where they have offered insurance for renewable energy, property, casualty, and financial lines. This established partnership is now poised to make a significant impact in the Asia-Pacific region.
Seizing Opportunities Ahead
Clemens Philippi, CEO of MSIG Asia, emphasized the significance of this partnership, stating, “Our collaboration with RiskPoint will provide significant support to our broking partners and their clients in overcoming the challenges they face.” Kenneth Nielsen, CEO of RiskPoint Group, added, “This new partnership enhances our ability to offer unique value propositions to the region and reaffirms our commitment to supporting the expansion of renewable energy solutions.”
A Key Part of MSIG Asia’s Growth Ambition
This partnership is a crucial component of MSIG Asia’s 2029 Growth Ambition, as outlined to the financial markets. By working together, MSIG and RiskPoint are well-positioned to drive the green transition in the Asia-Pacific region.
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