Chinese solar company Hanersun has announced the renewal of its strategic partnership with leading reinsurer Munich Re and Willis, one of the world’s largest insurance brokers.
The agreement was signed by Deming Liu, Assistant Manager at Hanersun, Sinney Leung, Director of PV Business Development at Munich Re and Eileen Yang, Head of PV Business at Willis, and marks a milestone in the deepening co-operation between the three parties, extending Munich Re’s reinsurance services for Hanersun’s full range of solar products for 2024.
Under the agreement, Munich Re will back Hanersun’s 15-year quality and 30-year power warranties for its solar modules (applicable to all PV module products, including mono- and bifacial), mainly covering losses caused by technical risks.
Leung expressed confidence in Hanersun’s commitment to quality after a thorough review of its production processes, with Liu commenting:
“Since Hanersun’s founding, quality has been our top priority. We are very proud to establish a long-term partnership with Munich Re, as it not only provides protection for our clients and investors, but also marks a significant step in our global market success.”
Yang added, as one of the first insurance brokers to set up a power and new energy department, Willis mainly serves first-tier PV brands and is one of Munich Re’s largest partners in China. “In recent years, the photovoltaic industry has developed rapidly, and Hanersun has achieved a lot in both domestic and international markets. We hope that, through this tripartite co-operation, we can together enhance the company’s brand influence in the global market.”