London, UK (2nd August 2023) Hiscox, the specialist global insurer, has underwritten the first risks in its recently launched Lloyd’s sub-syndicate, ESG 3033. In a deal brokered by global professional services firm Aon, Hiscox ESG 3033 will provide cover for a new wind farm in Spain and a solar farm risk in the USA.
ESG 3033 – which launched in March 2023 – is nested within Hiscox Syndicate 33, leaning on existing stamp capacity and complementing Hiscox London Market’s existing portfolio. It is the insurer’s first specialised Lloyd’s sub-syndicate and provides additional insurance capacity and support to clients with positive ESG credentials, such as renewable power generators and energy storage providers. ESG credentials are assessed using a combination of proprietary and independent third-party data, with cover available for a range of insurance lines and industries operating anywhere in the world where Lloyd’s licences are valid.
Paul Lawrence, Chief Underwriting Officer for Hiscox London Market, said: “ESG 3033 is off to a great start and the first risks we’ve written are good examples of our growing appetite for renewable energy. We’ve had really positive feedback so far from both brokers and clients, who want to draw on our underwriting and claims expertise, as well as our strong industry relationships, and use ESG performance as a real point of differentiation. We expect this momentum to accelerate over time, as we support more clients through the net zero transition.”
“At Aon, one of the ways we measure our impact is through an Environmental, Social and Governance (ESG) lens, both by how we operate our firm and the market-leading solutions we deliver to meet our clients’ growing needs,” said Angela James, Aon’s Chief Broking Officer for the Global Broking Centre in London. “Helping organisations address risks associated with ESG issues is key to how we help them protect and grow their businesses. We are keen to work with insurers like Hiscox to develop solutions for clients that shape better decisions as they navigate the transition to net zero.”
Hiscox has partnered with additional third-party capital to provide extra capacity for clients, while using an independent screening tool to help in the risk selection and ensure we consider any business who can demonstrate exceptional ESG performance.
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Carmel McCarthy 07769 280903
About the Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,000 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that.
For more information, visit www.hiscoxgroup.com
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