20 September 2017News

JLT Re partners to build solar energy output insurance product

Broker JLT Re has partnered with data repository and risk management provider kWh Analytics to create a risk transfer product insuring solar energy output.

San Francisco-based kWh reduces the overall cost of financing by providing a Solar Revenue Put that reduces the risk of loss for lenders, thereby enabling lenders to reduce debt service coverage ratios for asset owners.

JLT Re and kWh worked together to secure a preferential relationship with a global, investment grade insurance company to offer a product insuring $100 million of coverage. The relationship will bring liquidity to the growing solar energy industry, which is currently estimated at $500 billion with another $500 billion slated to be completed in the next few years – creating the next $1 trillion asset class.

“Kudos, our Solar Revenue Put, improves lender terms and reduces the cost of capital for asset owners by guaranteeing up to 95 percent of solar production with investment-grade balance sheets,” said Richard Matsui, CEO, kWh Analytics.

Gregg Holtmeier, JLT Re insurtech leader, added: “kWh Analytics is at the forefront of a wide-ranging trend we see in Insurtech, wherein data companies apply best-in-class data repositories to transform unquantified uncertainty into quantified risk that the insurance industry can then efficiently price.”

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Hiscox appoints group finance director

Insurtech Concirrus launches AI-powered marine platform

Traditional insurers wary of engaging with consumers: start-up founder

African Risk Capacity launches outbreak & epidemic parametric insurance

Africa Re South Africa MD resigns, Ghana Re MD replaced

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
13 September 2017   JLT Re is excited about its position in the industry and is investing heavily in its business, especially with all the activity in the hurricane season, according to global CEO Mike Reynolds.
News
12 September 2017   Reinsurance broker and consultant JLT Re has appointed Thierry Cuisenier as a partner in its Paris office.