Aviva and specialty insurer Axis have launched a £200m Lloyd's consortium for onshore renewable energy projects, simplifying placement for brokers and clients.
Aviva and specialty insurer Axis have launched a Lloyd's consortium to back new renewable energy projects, the insurers said. The 'A-Squared Consortium' brings £200 million in total capacity and will focus on onshore renewable energy construction and operational risks for UK-based projects.
The consortium will offer up to 100% line size for qualifying risks or take significant lead positions. Underwriting teams will apply consistent expertise across technologies, Aviva and Axis said. By coordinating quoting and placement, the pair aim to simplify the process for brokers and deliver shared risk engineering insights.
The structure is designed to address a growing challenge in the renewable energy insurance market, the insurers said. Project sizes are increasing, and technology is evolving, making individual risk assessment more complex. A consortium model lets Aviva and Axis combine capacity and underwriting resources without merging balance sheets. For brokers, the consortium offers a single point of access to £200 million in capacity, the insurers said.
The A-Squared Consortium is one of the first formal partnerships between a major composite insurer and a specialty carrier under the Lloyd's umbrella for renewables, the insurers noted.
The consortium is effective immediately. Underwriting teams at both Aviva and Axis are handling submissions through existing broker relationships, they said.
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