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PERse Expands Renewable Energy Capacity and Solidifies Renewals

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Topics: MGAs Renewables

Power.Energy.Risk is pleased to announce they have expanded their overall capacity offering and renewed their Lloyd’s binder for an 11th year...

The Lloyd’s binder is led by Chaucer, and the US capital is comprised of a carrier consortium, including Allianz, Everest, Nationwide, and bolstered by a number of international reinsurers. PERse can write limits of up to $400 million per project, with an extensive group of highly regarded carriers.

PERse was founded by Ryan Specialty in 2011 and provides property and casualty cover for renewable energy and power production facilities. The managing general underwriter can write all renewable energy industries, with a primary focus on wind, solar, and battery storage. Deepening their underwriting expertise, PERse has a market leading engineering practice that analyzes each risk as a part of their underwriting process. PERse underwrites risks on a global basis.

Commenting on this expanded capacity, Michael J. Bernay, CEO of PERse, said, “We are very excited to have expanded our capacity and renewed our strong list of capital providers. These carriers join PERse in our commitment to support the growth of renewable energy on a global basis. We are very proud of the fact that such well-regarded markets provide us the authority to meet the insurance needs of our long-time brokers and their clients in this evolving space.”

Kelan Hunt, Chaucer’s head of Energy and Active Underwriter for their Syndicate 1084, commented, “Chaucer are delighted to maintain our lead support of PERse’s North American wind power business, enabling us to continue to provide risk capacity for the growing renewable energy industry.”

“As we are committed to support our Power/Green Energy clients, we are excited to continue working with PERse on this dynamic and rapidly-growing segment,” added Honorio Campos, Underwriting Manager, Energy & Construction for Allianz Global Corporate & Specialty (AGCS) – North America. “Together, we have gained experience and developed tailor-made solutions to address the various challenges that the segment presents, leading to an overall improved offering.”

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