QBE has formed a dedicated sustainable energies underwriting roster in the UK and Europe to be led by internal hire Sebastian Weaver.
“QBE is setting out a clear agenda to support its customers in the transition to a lower carbon global economy,” said QBE international markets executive director Peter Burton. “As investment in sustainable energy is on the rise, we see a growing need from our customers for specialised insurance for these types of projects and sizeable opportunity for QBE.
“Seb and his team will build upon the deep expertise of our natural resources team and create a specialised team to oversee this new opportunity.”
According to QBE, the new unit will bring “further levels of service and support” to new and existing energy customers alike. It will also align the insurer’s underwriting capabilities across construction, operational, casualty, and directors’ and officers’ lines.
The focus is on underwriting what QBE described as the “growing range of companies and energy systems that form part of a rapidly changing energy mix throughout the world,” with projects spanning hydrogen, ammonia, hydro, solar, fixed and floating wind power, and carbon capture and sequestration.
Prior to his appointment as head of sustainable energies, Weaver served as offshore oil & gas portfolio manager. Based in London, he reports to natural resources director Duncan Wilson.
