Renewable energy underwriter GCube expands in California
GCube Insurance Services (GCube), an underwriter for renewable energy, has enhanced its presence on the West Coast of the US with a number of significant additions to its underwriting, claims and business development teams based in Newport Beach, California.
California has taken a leading role in the adoption of renewable energy in the US, with a highly ambitious renewable portfolio standard (RPS) targeting a 50 percent share for renewables by 2030, according to GCube.
In order to support the ambitions of a growing client base in California and further afield, GCube has invested heavily in its Newport Beach team, with two senior team members joining from the New York and London offices, and four new staff hires in underwriting, claims, business development and finance.
The team in California will be boosted by the arrival of Sam Walsh, senior vice president, who joins from GCube’s New York office, bringing seven years of expertise underwriting projects in the US wind and solar sectors.
Sam will be accompanied by Jatin Sharma, GCube’s head of business development, joining from GCube’s London office after 6 years, as the firm continues to enhance opportunities in the US and Latin American markets.
Fraser McLachlan, chief executive officer, GCube, said: “California continues to set the pace for the US market, and the global renewable energy sector as a whole. GCube has supported the US renewables industry from day one, and we’re committed to ensuring that our growing community of insureds benefits from an underwriting and claims handling service tailored specifically to the region and market in which they operate.
“These latest additions to the Newport Beach team reflect recent regional growth and will help us continue to provide this unique market-specific offering.”
GCube currently underwrites more than 85GW of renewable energy assets under development or in operation throughout the US.
