Leaderhip In Emerging Risks: Renewable Energy and Cyber
In our complex, evolving world, one truth remains constant: new risks continually emerge. AXIS has gained a leadership position in two of the most prominent emerging risks - renewable energy and cyber - and continues to advance its product offering and expertise in Renewable Energy and Cyber.
Renewable energy
AXIS' Renewable Energy unit serves clients on a global basis, and this past year added seasoned underwriting talent in San Francisco and London, expanding our footprint in two of the most important renewable energy hubs. The AXIS Renewable Energy team's ability to develop custom and flexible coverages for large-scale energy projects has helped it secure business relationships with many prominent renewable energy companies around the world.
AXIS has also expanded its market leadership through a series of strategic partnerships. In 2017, AXIS became the official insurance partner of SolarPower Europe, Europe's solar power trade group. AXIS also teamed up with the Renewables Consulting Group, a premier advisory firm, to co-author *Energy Storage: Opportunities and Challenges,* for organizations wishing to invest in the $19 billion global energy storage market.
Cyber risk
Cyber risk has been recently pushed to prominence by hackers and cyber thieves threatening businesses, governments and infrastructure. AXIS has developed considerable expertise in this rapidly evolving area, and aided by our acquisition of Novae, has built extensive market share.
AXIS' Global Cyber team recently extended its offer- ing to include protection against damage to physical assets and infrastructure when a cyberattack occurs. AXIS works with clients to assess the scope of their cyber risks so they can mitigate both "silent", non-affirmative cyber risks, as well as more traditional cyberattacks on a firm's digital assets. AXIS also sponsors world-leading research with the University of Oxford, ensuring the Company stays at the fore-front of thought leadership in the cyber risk arena.
As the world continues to change, AXIS' combination of scale and expertise will enable it to seize profitable opportunities to provide expertise and coverage for clients' emerging risks throughout the global specialty (re)insurance marketplace.