Industry News

iTOO welcomes Renew Risk Africa into the family

Africa’s first and only niche underwriting manager solely insuring renewable energy projects, joins the iTOO family with effect from 1 October 2020.

The growth of renewable energy continues to gather pace globally and in South Africa through the Department of Energy’s Renewable Energy Independent Power Producers Procurement Program.

Established in 2011 and with experience in underwriting large projects across Africa, Renew Risk Africa (RRA) is well positioned to take advantage of this opportunity and has expertise in various energy risks such as Solar CSP, Solar PV, On-Shore Wind, Hydro and Biomass.

Managing Director of RRA, Mike Robson, says the business offers a comprehensive, fully integrated insurance package that meets the needs of developers, owners, manufacturers, contractors, and lenders in one insurance policy by one insurer.

“If there is one thing that iTOO wants to be known for, it is being experts in niche and specialty risks, hence this acquisition is a perfect fit for us”, says iTOO Managing Director, Justin Naylor. “We are excited to welcome Mike Robson and Specialist Underwriter, Jared Nivison to our team of experts at iTOO.”

iTOO has purchased a majority share in RRA which will continue to trade under the Renew Risk Africa brand from their offices in Cape Town. iTOO, RRA and GCube (a global specialist provider of renewable energy insurance based in London) have established an underwriting partnership to provide renewable energy insurance solutions tailored to the African market. GCube has global expertise and over 25 year experience in the renewable energy risks.

Through RRA iTOO can now offer another niche expert underwriting solution to all our brokers and partners in sub-Saharan Africa. Look out for further communication and training on these new product offerings. iTOO is a member of the Hollard family and writes on the Hollard Insurance licence.

For further information please contact:

Mike Robson (Managing Director of Renew Risk Africa): miker@renewrisk.co.za

Justin Naylor (MD of iTOO): justinn@itoo.co.za

 

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