Munich Re and GCube form renewables partnership

by Gill Montia

Story link: Munich Re and GCube form renewables partnership

Munich Re has entered into a cooperation with GCube, which is headquartered in London and provides insurance services for renewable energy projects in wind, solar, biofuels, wave, hydro and tidal.

The firm also has offices in New York and Newport Beach, California, providing construction, marine, property-casualty and liability cover tailored specifically to renewable energies projects.

To date, GCube has insured power plants with an aggregate output of over 30 Gigawatt and from now on, Munich Re will assume a fixed-quota share of most GCube covers, while focusing especially on major construction projects.

In future, GCube and Munich Re will collaborate in the development of new insurance solutions for the sector, and in opening up new markets.