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GCube and Munich Re announced that they had entered into a partnership. GCube noted that the new capacity from Munich Re was a step in a direction that it hopes will allow the company to meet a wider clean technology industry clientele and future underwriting needs.
The agreement will see GCube access new underwriting lines of business including entrepreneurial and weather related risk solutions, which aim to boost the company’s existing end user offing and provide GCube with the ability to introduce new products and services to the renewable energy market. The partnership between the two companies is effective immediately.
“No one is under any illusion that 2012 is going to be another significant and game-changing year for the international renewable energy markets,” said Fraser McLachlan, CEO of GCube. “With competition still fierce, it is important that we do not continue to chase rates down as some sector participants seem intent on doing. As such, it is important that we seek new partnerships that will allow us to continue to diversify, while offering high security capacity and new product lines to the market.”
“In North America alone, there are already $1bn North American solar power plants, while in Europe and Asia, the appetite for offshore wind energy continues to accelerate. However, as this ambitious area of the energy market continues to evolve, so too do the needs and demands of the developers, investors and operators working within it.
