McGill and Partners and South Africa's GIB launch Protea Green, a renewable energy insurance facility with Aviva, Volt, and Munich Re as lead carriers, plus AIG capacity.
McGill and Partners, the independent specialty broker, and GIB, South Africa's largest independent insurance broker, have launched Protea Green, a facility for renewable energy infrastructure risks in the country.
The solution offers A-rated insurance capacity across the project lifecycle, covering developers, lenders, and owners. Aviva, Volt, and Munich Re Specialty – Global Markets are the three lead insurers, with a panel of follow carriers.
The facility draws on McGill's global market access and digital placement tools alongside GIB's local risk knowledge. AIG provides capacity of up to 25% across McGill and Partners' specialty portfolio under a strategic collaboration.
Tom Sexton, Head of Renewables, Power and Energy at McGill and Partners, said the surge in renewable energy development demands a tailored response. “By combining technical excellence, strong broker partnerships and strategic relationships with leading global insurers, we can now offer a compelling alternative to support the changes we are seeing in the market,” he said.
Tanya van der Westhuizen, Head of Renewable Energy at GIB, described Protea Green as “a game-changing facility that combines our deep, on-the-ground expertise with McGill and Partners’ global market access.” The aim, she said, is to give developers and lenders the bankable risk coverage needed to push forward the continent's energy transition.
GIB, listed on the Johannesburg Stock Exchange, carries an Alpha Score of 51 out of 100 on AlphaScala, reflecting a Mixed label in the Technology sector. AIG's Alpha Score is 43 out of 100, also Mixed, in Financials.
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