QBE Launches Sustainable Energies Unit to Support Clients’ Transition to Lower Carbon

January 28, 2022

QBE has launched a Sustainable Energies unit to support customers as they transition to lower carbon energy.

The unit will align QBE underwriting capabilities across construction, operational, casualty and D&O lines, focusing on underwriting the growing range of companies and energy systems that form part of a rapidly changing energy mix throughout the world. Projects include hydrogen, ammonia, hydro, solar, fixed and floating wind-power and carbon capture and sequestration.

QBE said the unit will bring further levels of service and support to both new and existing energy customers who are looking to make meaningful changes to their business through an increased focus on sustainability.

A QBE representative explained that the Sustainable Energies unit falls under the QBE Europe division but is part of International Markets which underwrites globally. The sustainable energy team is based in London.

QBE has appointed Sebastian Weaver as head of Sustainable Energies. Weaver was previously portfolio manager, offshore oil and gas at QBE. In his new role, he will be focusing on building the sustainable energy portfolio. He reports to Duncan Wilson, director of Natural Resources and is based in London.

Weaver will be supported by a dedicated Sustainable Energies underwriting team both in the UK and in Europe to drive customer excellence in service and to support broker partners.

This includes the recent appointment of Rachel Pereira as renewable energy underwriter, Natural Resources. Prior to joining QBE, Pereira was upstream energy underwriter at Hiscox.

“QBE is setting out a clear agenda to support its customers in the transition to a lower carbon global economy. As investment in sustainable energy is on the rise, we see a growing need from our customers for specialized insurance for these types of projects and sizeable opportunity for QBE,” commented Peter Burton, executive director, International Markets.

“Seb and his team will build upon the deep expertise of our natural resources team and create a specialized team to oversee this new opportunity.”

Source: QBE

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