Insuring tomorrow's energy supply today
Exploring the portfolio challenges and risks trends for primary insurers
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The energy transition is creating a complex risk landscape for insurers and operators. Total global renewable energy installation has more than doubled in the last 10 years. To maintain the pace of the energy transition, the market still needs progress in relation to technology development, project financing, grid infrastructure and energy storage solutions for the energy transition to truly be realised within an increasingly short timeframe.
Insurers contend with evolving and often unproven technologies, multi-faceted projects, climate change, and gaps in risk knowledge and underwriting data.
However, those who can develop innovative solutions to meet renewable energy market needs will be well placed to capitalise on a significant opportunity - based on announced targets The Swiss Re Institute estimates that renewable energy could generate premiums of USD 237 billion between 2022 and 2035.
In this report we explore:
- The global opportunity for insurers
- The cross-portfolio challenges of renewable energy
- Five key risk trends for renewable energy technologies
- How reinsurers can support emerging portfolios and projects with expertise, risk transfer and technology solutions
Download the report below.
Powering renewable insurance with capacity and knowledge
At Swiss Re, we are standing shoulder to shoulder with insurance companies. Leveraging our 160 years of risk knowledge, local market expertise, and long-standing contribution to industry best practice, our Centre of Competence for renewable energy provides clients with the expertise to navigate a complex landscape. It also helps clients efficiently arrange solar and wind capacity through our different and wide-ranging lines of business, while maintaining existing local underwriting relationships.