Generali Global Corporate & Commercial (GC&C) UK has partnered with US-based renewable energy underwriting provider Power Energy Risk (PERse).
“We are delighted to announce this agreement that brings together PERse’s capabilities and expertise in the renewables sector with Generali Global Corporate & Commercial’s extensive global network and local knowledge in over 160 countries around the world,” stated GC&C chief executive Manlio Lostuzzi (pictured).
“We are also proud to play an active role in supporting the transition towards a more sustainable society and have an impact on the real economy.”
In Generali’s view, sustainability means doing business well and having a long-term goal for people and communities. That approach, Lostuzzi believes, is confirmed by its tie-up with PERse by further offering insurance coverage for clean energy production.
Under the deal, Generali GC&C UK will lead a consortium of capital behind PERse’s expansion outside of North America.
Meanwhile PERse, which is part of the Ryan Specialty Group, will foster its business outside of the US by leveraging GC&C’s footprint as a major insurer with an international network and broad marketing capabilities within the property and casualty space.
Commenting on the strategic partnership, PERse CEO Michael Bernay said: “We are delighted to have the support of such a renowned and respected global insurance name as Generali as this exciting new platform takes off.
“With this trading collaboration, we look forward to compounding the successful relationships we have collectively fostered with our brokers and their clients.”