MSIG Asia, RiskPoint team up to power APAC renewables

Partnership aims to secure Asia's clean energy future

MSIG Asia, RiskPoint team up to power APAC renewables

Insurance News

By Camille Joyce Lisay

MSIG Asia and The RiskPoint Group ink a partnership deal to advance renewable energy insurance across Asia Pacific, following approval from the Monetary Authority of Singapore for RiskPoint's appointment as MSIG Singapore's Managing General Agent.

The collaboration comes at a time as Asia Pacific projects over US$3 trillion in power generation investment over the next decade, with 49% dedicated to wind and solar projects and 12% for energy storage.

The partnership will take advantage of Singapore's position as a regional insurance hub to provide comprehensive coverage for renewable energy projects across the broader Asia Pacific region.

By combining MSIG's regional distribution network and financial strength with RiskPoint's technical expertise and underwriting capabilities, the partnership aims to deliver tailored insurance solutions for construction and operation of solar, wind, and hydroelectric assets to project owners and their appointed brokers.

"The renewable energy sector faces unique challenges, including regulatory changes, natural disasters, and operational risks. Our collaboration with RiskPoint will provide significant support to our broking partners and their clients in overcoming these challenges," said MSIG Asia CEO Clemens Philippi. "This partnership is a key part of our MSIG Asia 2029 Growth Ambition."

Meanwhile, MSIG Singapore CEO Mack Eng noted how opportunities are plenty in the space as the country solidifies its position as a regional insurance hub and accelerates its green energy transition.

"We are proud to partner with RiskPoint to support Singapore's and the region's green energy transition, collaborating with our business units across the Asia network to drive large-scale renewable energy projects," Eng said.

RiskPoint CEO Kenneth Nielsen welcomed MSIG as a business partner as the group expands its footprint in the region, noting that the partnership improves its value propositions while reaffirming its commitment to support renewable energy.

The partnership builds upon a long-standing relationship between MSIG and RiskPoint dating back to 2008 in Europe, covering renewable energy, property, casualty, and financial lines.

How do you think this partnership stands to protect renewable energy in the region? Share your thoughts below.

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