Renewable technologies are expanding at an ever faster rate and have become competitive with conventional energy sources in many parts of the world. At the same time, climate impacts become more visible and are particularly affecting developing countries that lack adequate financial buffer to cope with the consequences.
For over 10 years, we at ACS have been supporting the renewable energy industry with insurance and risk management solutions. In parallel, we work with both private and public sector partners towards improving societal resilience to climate change through dedicated insurance approaches.
With over 450 utility-scale projects insured and 1000 projects assessed in 22 countries totalling the investment volume of €10 bn, we directly contribute to a low-carbon future.
We act as a specialized in-house intermediary offering a comprehensive set of risk advisory and insurance solutions, leveraging the expertise of Allianz Group to deliver excellent service to the renewable energy sector.
Our Insurance Services experts in cooperation with Allianz risk carriers develop innovative insurance solutions tailored to the needs of your renewable energy projects. We offer a comprehensive set of insurance products for the entire lifecycle of your projects, including:
Our Risk Advisory specialists provide financial and technical advisory services to project developers, manufacturers, equity and debt investors as well as EPC and O&M service providers in all areas of green energy projects.
Only 2% of damages from natural catastrophes in developing countries are currently insured. Yet, developing countries are particularly vulnerable to a changing climate, as illustrated by the increase in world-wide droughts that affect in particular regions highly dependent on agriculture. But there is also an increase in excessive rainfall, leading to floods that washes away poorly built infrastructure, threatening livelihoods and destroying property.
Since 2015, Allianz Re engages with public partners and peers in developing so-called climate risk insurance solutions for the most vulnerable countries. The Climate Advisory team works with public institutions like the German Development Agency, GIZ, to prepare the ground for sustainable financial solutions that would allow for a better preparedness to the next large disaster and a stronger response capacity.
The team also represents Allianz in relevant memberships working on this topic (Munich Climate Insurance Initiative, Insurance Development Forum, Geneva Association) and is responsible for the yearly Allianz Re Climate Risk Research Award for young researchers. You can find more information on the award here.