MSIG, with its regional network and RiskPoint’s underwriting expertise, aims to address demand for insurance in the renewable energy sector. Credit: UNIKYLUCKK/Shutterstock.

General insurer MSIG Asia has appointed RiskPoint Group as MSIG Singapore’s managing general agent (MGA), with approval from the Monetary Authority of Singapore (MAS).  

The aim is to advance renewable energy insurance in the Asia-Pacific region. 

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This move is in line with MSIG Asia’s 2029 Growth Ambition.  

Using Singapore’s position as a “regional insurance hub”, the goal is to offer coverage for renewable energy projects across the region.  

In this regard, MSIG highlighted the role of renewable energy as a crucial driver of both economic and environmental progress, with countries in the region stepping up efforts to address climate change and enhance energy security. 

MSIG, with its regional network and RiskPoint’s underwriting expertise, looks to address demand for insurance in the renewable energy sector.  

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The partnership will focus on providing coverage for the construction and operation of solar, wind and hydroelectric projects, supporting project owners and their brokers. 

MSIG and RiskPoint have been collaborating since 2008 in Europe, offering insurance for renewable energy, property, casualty and financial lines. 

MSIG Asia CEO Clemens Philippi said: “Our collaboration with RiskPoint will provide significant support to our broking partners and their clients in overcoming these challenges.  

“We are excited to work with RiskPoint to seize the promising opportunities ahead. This partnership is a key part of our MSIG Asia 2029 Growth Ambition, as recently outlined to the financial markets.” 

RiskPoint Group CEO Kenneth Nielsen commented: “This new partnership enhances our ability to offer unique value propositions to the region and reaffirms the RiskPoint Group’s commitment to supporting the expansion of renewable energy solutions. We are excited to be part of driving the green transition also in AsiaPac in collaboration with MSIG.”  

Last month, MSIG became the official insurance partner of ASEAN United FC club events.