Tokio Marine GX launches nine-strong partner ecosystem

Tokio Marine GX (TMGX) has expanded its proposition beyond traditional renewable energy insurance with the launch of a new ecosystem of specialist partners designed to support businesses across the wider green transition.

The underwriting business, which specialises in insurance and risk management propositions for organisations pursuing decarbonisation strategies, said the initiative extends its reach into a range of emerging and specialist sectors linked to the transition to a low-carbon economy.

The ecosystem comprises nine specialist partners covering areas including clean energy technology, carbon credits, marine risks, nuclear energy, forestry and sustainable aquaculture.

Among the businesses joining the platform are Ariel Green, which provides clean energy technology performance insurance, Ocean Special Risks, which focuses on marine risks, and Artio Carbon, which specialises in carbon credit insurance. Other partners include New Energy Risk, Avondale Private Capital, Cedar Crown, Northcourt, Project Safe/Nuclear Risk Insurers and Elysia.

‘Ambitious goal’

TMGX said the launch supports its ambition to diversify beyond its core renewables portfolio, which currently focuses on property and liability cover for onshore and offshore wind, solar and battery storage projects.

Ben Kinder, chief underwriting officer at Tokio Marine GX, said: “I am delighted by the progress we have made in just a year. We have proven that the model works and that the demand is clear and growing. In the past 12 months we have diversified our offering and built an ecosystem of specialist partners to address decarbonisation risk across multiple sectors and stages of the transition journey.

”We have also played a key role in enabling Tokio Marine Group to hit its decarbonisation-related insurance premiums target early and now set an even more ambitious goal. We can look forward to the next year with confidence.”

Fraser McLachlan, chairman at Tokio Marine GX, added: “Our ambition at TMGX has always been to insure every part of the decarbonisation journey, supporting our clients across the rapidly evolving green transition landscape.

”This is not about developing a single product or addressing a single technology, it is about building a much wider ecosystem of insurance solutions, expertise and partnerships that can support the transition to a net zero economy.”