Axa’s general insurance business announces new delegated authority partnership

The commercial arm of Axa Insurance UK has secured  a new delegated authority partnership with Lime Underwriting over renewable energy.

The deal will see the firms work together to provide decommissioning bonds for the UK’s renewable energy sector.

With around 13,000 projects currently generating 45% of the country’s electricity, this partnership supports the projected growth of up to 10,000 new projects, helping site operators manage decommissioning funds and reduce cash flow pressures.

“This collaboration further strengthens our commitment to support renewable energy initiatives and ESG objectives, building confidence among landowners and regulators,” said Sam Houlden, head of schemes distribution for Axa Insurance UK commercial.

Construction offering

Axa Insurance UK is the insurer’s new general insurance business, with it bringing together the firm’s UK commercial and retail business units under a single leadership structure.

The commercial arm also revealed that it had expanded its offering in the construction sector, with its new policy providing cover for individual construction projects of all sizes.

The policy can be adapted for timber frame contracts and modern methods of construction. All cases are manually underwritten.

In addition, owned and hired-in plant has been added to the contractors combined policy wording. This provides all risks cover in respect of damage to own plant and equipment, hired-in plant, employees’ tools and temporary buildings.

Four additional lead trading underwriters with expertise in the construction sector have also been added to the team to increase capacity and broaden expertise.