Ariel Re reintroduces clean energy branch

Rebranded unit to function under insurance pioneer

Ariel Re reintroduces clean energy branch


By Kenneth Araullo

Ariel Re, the global (re)insurer, has rebranded its clean energy division as Ariel Green, recognizing the critical role of technology performance insurance in expediting innovation within solar, energy storage, hydrogen, and bioenergy, crucial for addressing climate change.

With a substantial track record, Ariel Re has insured assets totalling $30 billion across six continents, encompassing over 30 clean energy technologies. This includes a notable milestone of surpassing 100 GW of solar warranties this year.

Technology performance insurance policies play a vital role in safeguarding against production shortfalls resulting from technological failures. This assurance allows manufacturers to offer long-term warranties and facilitates clean energy projects in securing funding, successful initiation, construction, and profitable operation. By mitigating risks associated with commercialized technologies, it enables lower-cost capital providers to engage in innovative projects without imposing a risk premium.

“Especially in today’s high-interest market, we believe that performance insurance offers technology manufacturers and developers a powerful differentiator that can help them reassure investors, obtain financing on better terms, and increase speed to market,” Ariel Green managing director Jan Napiorkowski said. Napiorkowski is also known for having pioneered technology performance insurance in 2009.

“As the world strives to reach Net Zero, we’re responding to the increasing need to finance the trillions required to make the transition to clean energy,” Napiorkowski said. “And as more clean energy projects come online, legacy fossil fuel facilities can be shuttered, and their emissions abated.”

Technology performance insurance in the renewables sector

The provision of clean energy technology performance insurance dates to 2016 and has shown robust growth over the past seven years. This specialized business has expanded with significant interest and investment in various renewables and clean energy projects such as solar, energy storage, biofuels, waste-to-energy, hydrogen, and fuel cells.

Napiorkowski emphasized that Ariel Green's value lies in the technical and financial expertise of its specialized underwriting team, collaborating with clients to devise tailored solutions. “We’re well-equipped to deploy insurance capital and support the industry’s largest projects with meaningful risk transfer,” he said.

Ariel Re CEO Ryan Mather also commented on the green division’s reopening, saying that it serves as a strong value proposition both in terms of technical underwriting expertise and improving ESG footprints.

“Offering debt tenor matching, non-cancellable Lloyd’s policies shows that Ariel is a thoughtful, consistent, and predictable long-term partner for our brokers and clients. And Ariel Green’s process applies this to the insurance side of our business too,” Mather said.

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