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McGill and Partners, GIB launch Protea Green for South Africa renewables risks
Protea Green is designed to provide A-rated insurance capacity across a renewable project’s lifecycle, with lead insurers including Aviva, Volt, and Munich Re Specialty – Global Markets.
Independent specialty insurance and reinsurance broker McGill and Partners and South Africa broker GIB have launched Protea Green, a new insurance solution targeting risks tied to renewable energy infrastructure in South Africa, as the energy transition accelerates.
According to Reinsurance News, the facility offers a comprehensive set of coverages tailored for developers, lenders, and owners, with McGill and Partners saying it is built to deliver A-rated insurance capacity throughout a project’s lifecycle.
The arrangement names Aviva, Volt, and Munich Re Specialty – Global Markets as lead insurers, supported by a panel of follow insurers, and it also cites collaboration with AIG that provides capacity of up to 25% across McGill and Partners’ specialty portfolio.
McGill and Partners said the goal is to match the coverages sought by parties involved in the renewable pipeline, while GIB described Protea Green as a specialized, bankable risk solution for developers and lenders as South Africa’s energy landscape shifts rapidly.