Commercial Opportunity

There is great growth potential for new technologies for tackling climate change. This provides us with great opportunities as financial institutions, including insurers, are key players in growth markets.

In the UK renewable energy demands, particularly wind, are expected to increase significantly over the next 20 to 30 years as the government aims to fulfil its emission reduction commitments. 

As well as increasing investment in the renewable energy sector, there is a need for insurance cover to support this growth.

Allianz Insurance has assessed the market for wind energy generation. Competition in insurance for large, on-shore wind installations is fierce and is not currently an economically viable market for us to pursue.

However we have been able to provide bespoke cover for a number of small-scale, on-shore installations.

The off-shore wind market is currently excluded under the Allianz Group Minimum Standards for Underwriting (MSU) guidelines because we are not currently equipped to underwrite or re-insure the installation risk and perils of the sea.