[ad_1]
Lloyd’s of London insurer and Argo Group subsidiary ArgoGlobal has partnered with Tierra Underwriting Restricted (Tierra) to offer insurance coverage in assist of inexperienced mission finance transactions.
ArgoGlobal will present $25 million in underwriting capability to assist the MGA, which Tierra will use to assist transactions which have carbon abatement at their core, or in any other case present environmental advantages to society.
Tierra will work with main inexperienced capital suppliers to supply a threat switch mechanism to assist promote the expansion of financing on this important sector.
The partnership strengthens Argo Group’s dedication to growing new options and selling present services and products that assist the United Nations Sustainable Growth Objectives.
Andrew Beechey, managing director at Tierra Underwriting Restricted mentioned: “Renewable vitality has change into extra environment friendly and cheaper prior to now decade, as the worldwide vitality combine adjusts to a extra sustainable future.
“Insurance coverage and finance have a key position to play in supporting this vitality transition and serving to drive the world in direction of a greener, more healthy planet. Our partnership with ArgoGlobal permits us to be a part of this resolution and we sit up for asserting additional thrilling particulars within the close to future.”
Jeremy Shallow, Head of Specialty at ArgoGlobal, mentioned: “We’re excited to be embarking on this partnership with Tierra Underwriting Restricted at such an important time in our market’s historical past.
“The curiosity from our shoppers within the inexperienced finance sector is rising quickly, and we wish to be on the forefront of this transition. We’re eager to each assist optimistic change globally and to reap the benefits of the industrial alternative this represents.
“The corporate goals to combine ESG concerns into its underwriting course of and companion with those that share our perception in assembly the wants of the current with out compromising the longer term.”
[ad_2]
Source link