Tokio Marine’s GCube beefs up global underwriting with slew of hires from Marsh/Aon
Specialist renewable energy insurer GCube has bolstered its global underwriting team with three new hires from Marsh, Aon and Chubb, in a move it says completes its transition from a managing general agent (MGA) to an underwriting division under the new owner Tokio Marine HCC.
The new hires include Jake Rowland, former advisory representative at Marsh; James Mulligan (pictured), former insurance broker at Aon Risk Solutions; and Tim Rolland, former casualty underwriting assistant at Chubb.
Rowland joins GCube’s US team as underwriting assistant, strengthening its North American offering across on- and offshore wind, solar, and energy storage insurance.
In London, Mulligan joins as an underwriter, working on both the onshore and offshore side of the renewables spectrum.
Rolland has also joined GCube’s London team as an assistant underwriter, holding experience in casualty underwriting and exposure management roles at various organisations including Chubb, AmTrust Financial Services and Markel.
Mulligan and Rolland are accompanied by Ian Mitchell, whose move to the underwriting team at GCube comes after two years in the role of binder executive, where he was responsible for the day-to-day running of the various binding authorities with direct access to GCube’s capacity providers. He bring over 30 years of experience in the London market at large broking houses including Guy Carpenter, JLT Group, and Willis Towers Watson, holding senior positions specialised in construction and engineering risks.
GCube believes its transition away from MGA status will enhance its capacity, independence, as well as the financial strength. The business writes global property and liability cover for renewable energy construction and operational risks in 40 countries, covering wind, solar, bio, hydro, wave and tidal projects.
Furthermore, the insurer seeks to refine its offering to renewable energy asset owners. It has recently partnered with asset optimisation business Clir to launch a market-first “smart” insurance product that uses artificial-intelligence-led analytics and datasets to offer enhanced terms and reduced premiums for wind and solar operators.
GCube is committed to maintaining its position in the renewables insurance market and addressing the changing risks of project development and operation in the industry. In North America, the increasing threat of natural catastrophes and extreme weather is driving a reset in insurance terms and pricing, while growing pains and mounting losses in the global offshore wind sector will necessitate a similarly robust market response to ensure continued delivery of a sustainable insurance offering, the company noted.
Fraser McLachlan, GCube Insurance chief executive officer, said: “We’re thrilled to have Jake, James and Tim join our team, as well as to see Ian transition into the underwriting side of the business as we complete our first full year as an underwriting division under our new ownership. We are always looking for high calibre people with a passion for renewables to join our firm.
“Each brings varied experience to GCube, helping us to continue building our specialist knowledge to the benefit of asset owners in the global renewables market and to stay at the forefront of evolving risks and sustainable insurance practices.”
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