GCube doubles offshore wind insurance coverage

Jan 25, 2012 - GCube, a provider of insurance for green energy technologies, said today it had doubled the size of its underwriting line for offshore wind farms to USD 100 million (EUR 77m) for a single project.

Working directly with new capital, the insurer has expanded its underwriting capacity for the sector by USD 50 million.

The market need for insurance capacity in the offshore wind industry is rising, driven by the increase in installed capacity in European waters and the development of the industry in the US and southeastern Asia, GCube said.

The company operates in the UK through GCube Underwriting Ltd and in the US through GCube Insurance Services Inc.

(USD 1.0 = EUR 0.770)

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