Aviva and AXIS launch Lloyd’s renewable energy consortium

Aviva and AXIS Capital have launched a new Lloyd’s consortium to provide insurance capacity for UK onshore renewable energy projects, targeting the country’s goal of expanding clean energy generation by 2030.

The partnership combines the renewable energy underwriting capabilities of both insurers into what they describe as the first Lloyd’s consortium dedicated to UK onshore renewable energy. Operating as the A-Squared Consortium, it will provide up to £200 million of capacity for the construction and operation of new onshore wind, solar and battery energy storage projects.

The consortium will offer up to a 100% line size for qualifying risks or take significant lead positions, while providing coordinated underwriting, shared risk engineering expertise, and a streamlined placement process for brokers and clients. Coverage includes property damage, business interruption and third-party liability, with referrals available for more complex risks.

Aviva said the initiative is intended to simplify access to insurance capacity as demand grows for renewable energy projects across the UK. AXIS will underwrite its share of the risks through AXIS Energy Transition Syndicate 2050.