MSIG Asia and RiskPoint Group Collaborate on Renewable Energy Insurance 

• Over US$3 trillion in power generation investment projected over the next decade
• Partnership aims to address growing demand for specialized insurance in the renewable energy sector 

MSIG Asia and the RiskPoint Group have announced a strategic partnership to enhance renewable energy insurance offerings across the Asia Pacific region. The collaboration, announced on January 24, 2025, aims to combine the strengths of both companies to meet the increasing demand for specialized insurance solutions in the rapidly growing renewable energy sector. 

Partnership Details 

RiskPoint has received approval from the Monetary Authority of Singapore (MAS) to be appointed as MSIG Singapore’s Managing General Underwriter (MGU). This partnership aims to use Singapore’s status as a regional insurance hub to offer coverage for renewable energy projects throughout the Asia Pacific region. 

MSIG and RiskPoint’s partnership combines MSIG’s regional distribution network and financial strength with RiskPoint’s technical expertise. Together, they aim to offer tailored insurance solutions for the construction and operation of solar, wind, and hydroelectric assets. 

Company Statements 

“The renewable energy sector faces unique challenges, including regulatory changes, natural disasters, and operational risks. Our collaboration with RiskPoint will provide significant support to our broking partners and their clients in overcoming these challenges. Together, we are confident in making a meaningful contribution to the region’s accelerated transition towards a sustainable future. 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,” says Clemens Philippi, CEO of MSIG Asia. 

Mack Eng, CEO of MSIG Singapore adds: “As Singapore solidifies its position as a regional insurance hub and accelerates its green energy transition, the opportunities in this space are immense. We are proud to partner with RiskPoint to support Singapore’s and the region’s green energy transition, collaborating with our business units across the Asia network to drive large-scale renewable energy projects.” 

Kenneth Nielsen, CEO of RiskPoint Group comments: “In our pursuit to provide service excellence and expand our footprint in AsiaPac, I am proud to welcome MSIG as a business partner. 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.”  

Future Outlook 

The Asia Pacific region is projected to invest over US$3 trillion in power generation over the next decade, with nearly 49% for wind and solar projects and 12% for energy storage. Renewable energy is driving economic and environmental progress as countries work to combat climate change and enhance energy security. 

As the renewable energy sector continues to expand in the Asia Pacific region, the demand for specialized insurance solutions is anticipated to grow.