Tokio Marine HCC closes buy of renewables underwriter GCube

Texas-based speciality insurer Tokio Marine HCC, part of the Tokio Marine Group, has finalised its takeover of specialist renewable energy underwriter GCube.

The acquired business provides insurance services for on- and offshore wind, solar, wave, hydro and tidal projects around the world. The company has more than 25 years of experience in the renewable energy sector.

Tokio Marine HCC said that the transaction will help GCube grow its presence in key markets worldwide, including Japan and Taiwan.

“As a business, we focus our strategic growth on acquiring partners that offer a unique strength and depth in the insurance marketplace and bringing GCube into the Tokio Marine HCC fold is the natural culmination of that strategy in clean energy,” commented Simon Button, chief underwriting officer – London Market division of Tokio Marine HCC – International Group.

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