Ariel Green expands renewable consortium

Ariel Re's green energy insurance arm Ariel Green has expanded Lloyd’s first ever Technology Performance Insurance Consortium to offer up to $150 million in aggregate per risk for clean energy projects and technologies. 

First launched in 2023, Bermuda-registered Ariel Green successfully renewed the Consortium, while growing the number of markets participating and capacity available, to protect clean energy technologies and projects.

With the Consortium’s backing, Ariel Green said it will offer more than $150 million in aggregate per risk in special circumstances, allowing major cleantech projects and stakeholders to benefit from meaningful risk transfer. The increased scale will allow the clean energy sector to access more capital and accelerate deployment of innovative technologies essential to achieving Net Zero, the company said.

“We are proud to be the Technology Performance Insurer at Lloyd’s, leading the convergence of the green energy sector and the insurance industry,” said Ariel Green managing director Jan Napiorkowski. He added that “the demand for participation in the Consortium reflects the increasing demand for clean energy TPI as well as insurers’ commitment to support this fast-growing energy sector, while adding new and uncorrelated classes of business.”

Rachel Turk, Lloyd’s chief underwriting officer, added: “Lloyd’s offers a unique global platform to host this renewable consortium thanks to our global licences and position as the world’s leading specialist insurance market. We are delighted that major traditional insurance players view Lloyd’s and our consortia as a great platform to identify and support specialty insurance offerings in this segment.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.