Ryan Specialty’s Renewables MGU Forms Partnership with Generali

December 22, 2020

Power Energy Risk (PERse), the largest U.S.-based renewable energy managing general underwriter and a part of Ryan Specialty Group (RSG), has formed a strategic partnership with Generali’s P/C division Global Corporate & Commercial UK.

The agreement aims at addressing renewables-related risks at a global level, with a focus on wind and solar energy plants, said the announcement from RSG.

Through this partnership, PERse will foster its business outside of the U.S. by leveraging Generali GC&C’s footprint as a leading insurer with an international network and broad marketing capabilities across the property/casualty spectrum.

In a similar vein, Generali GC&C UK enhances its existing capabilities by partnering with PERse London and Copenhagen, bolstering its expertise in the renewables sector by leading a consortium of capital behind PERse’s expansion outside of North America.

“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,” commented PERse CEO Michael Bernay. “With this trading collaboration, we look forward to compounding the successful relationships we have collectively fostered with our brokers and their clients.”

“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,” said Manlio Lostuzzi, CEO of Generali Global Corporate & Commercial.

“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,” Lostuzzi added. “For us, sustainability means doing business well, with a long-term goal for people and communities. This partnership confirms this approach by further offering insurance coverage for clean energy production.”

In addition, PERse has announced the appointment of Jon Bloend Soerensen in PERse Copenhagen to support its international expansion. He brings with him a wealth of expertise with more than 15 years of experience in insurance and risk management within the renewable energy sector.

Prior to joining PERse, Soerensen was a European underwriting manager for CNA/Hardy and also held a position as a director of the Insurance Operations at Dong Energy, where he was responsible for developing insurance solutions for offshore wind. He is based in Copenhagen and he will work with PERse colleagues and underwriters Adam Goddard, PERse London, and Marco Broccolo, PERse Miami.

Source: Ryan Specialty Group

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