ArgoGlobal has announced a partnership with green finance MGA, Tierra Underwriting to provide US$25m in underwriting capacity.
Tierra Underwriting Limited provides long-term credit insurance to support green project finance transactions. Its target clients are banks involved in the financing of projects that are environmentally beneficial and help transition the world to a low carbon future.
Jeremy Shallow, head of specialty at ArgoGlobal, said: “We are excited to be embarking on this partnership with Tierra Underwriting Limited at such a vital time in our market’s history. The interest from our clients in the green finance sector is growing rapidly, and we want to be at the forefront of this transition. We are keen to both support positive change globally and to take advantage of the commercial opportunity this represents.”
Andrew Beechey, managing director at Tierra Underwriting Limited added: “Renewable energy has become more efficient and cheaper in the past decade, as the global energy mix adjusts to a more sustainable future. Insurance and finance have a key role to play in supporting this energy transition and helping drive the world towards a greener, healthier planet. Our partnership with ArgoGlobal allows us to be part of this solution and we look forward to announcing further exciting details in the near future.”
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