GCube launches post-Brexit European hub in Amsterdam; makes senior hires from NN Group

Specialist renewable energy insurer GCube Underwriting has bolstered its European presence with the expansion into new offices in the Netherlands and the appointment of two senior hires from NN Group.

The company's new base in Amsterdam will provide a hub to service its European clients following the UK’s exit from the European Union. GCube said it will also create opportunities for further expansion, both within Europe and globally, as the business enhances its offering for renewable energy developers and asset owners in on- and offshore wind, solar, hydro and energy storage.

To lead the new Dutch team, GCube has appointed Andries Veldstra and Elkhadir El Hammdaoui, who both join the business as senior underwriters. Having each served over 15 years in the insurance industry, Veldstra and El Hammdaoui join GCube from Nationale Nederlanden (NN), where they most recently specialised in underwriting European offshore wind projects.

The executives will support the London-based underwriting team, while establishing GCube’s presence in the Netherlands and expanding the reach of the business in Europe.

“As GCube continues to expand its international reach, we’re aiming to supplement our European presence as GCube continues to deliver the highest standards of underwriting and claims support to our clients across the continent,” said Fraser McLachlan, CEO, GCube Underwriting. “We have been able to take advantage of a fantastic opportunity to bring on board two highly-respected offshore wind underwriters. Andries’ and Elkhadir’s respective track records are impressive, and their expertise will be an invaluable asset to GCube as we strive to continually enhance the service we provide to our renewable energy clients.”

Veldstra said: “We’re looking forward to working as part of a team who have specialised exclusively in renewable energy underwriting for over a decade. As the risk profile of offshore wind in particular continues to evolve, a sustainable underwriting approach and a long-term outlook on risk management are essential, and GCube has built a strong reputation across the entire renewable energy space.”

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