Ace to grow UK business with launch of renewable energy cover
Ace European Group has signalled its intent to grow its UK business with the launch of a broker-only insurance product aimed at renewable energy producers and providers.
Ace Renewable Energy will be distributed through the insurer’s UK-wide broker agency in a bid to expand its footprint in the renewable energy market.
The company said it intends to embark on a series of one-to-one and agency visits throughout the UK in the coming months.
Alistair Macintyre, UK product development manager, told Insurance Times: “Target risks will be traditional waste to energy, waste management and the production of biofuels to wind and solar energy.”
As well as targeting waste recycling and composting companies, Macintyre said the product would offer risk management solutions from construction to operation of energy production.
Ace is one of an increasing number of insurers to launch into a sector that has attracted a 43% rise in global investment during 2006.
Lloyd’s insurer, ascot, has established Renewco Underwriting, a renewable energy operation, this week. It claims to be the first Lloyd’s underwriter dedicated to the full range of renewable energies worldwide.
Royal & SunAlliance is also launching a global renewable energy business.
