Hollard, South Africa’s largest privately owned insurance group and iTOO Special Risks, its preferred underwriter of speciality products continue their drive to be the insurance partners of choice for the green transition following the launch of Tokio Marine GX (TMGX). This ground-breaking platform will provide tailored underwriting solutions for businesses across multiple sectors looking to decarbonise their operations.

In 2018, Tokio Marine acquired a 22.5% stake in Hollard, paving the way for a strategic partnership that offers Hollard’s and iTOO’s clients access to enhanced technologies and world-class insurance and underwriting solutions.

“We are proud to be part of Tokio Marine and the establishment of this new green innovation that will help us unlock new opportunities. It will provide a single point of access for businesses across multiple sectors at every stage of their energy transition journeys," says Andrew Coutts, Hollard Insure Chief Executive Officer.

TMGX provides a holistic suite of products and services to mitigate risks associated with the transition to a greener economy. This includes specialist insurance, as well as risk management solutions for businesses engaged in decarbonisation and green transformation.

“iTOO  is the market leader in cradle to grave renewable energy insurance in Africa  and we’re excited to deepen our relationship with Tokio Marine to provide tailored solutions and services that will support industries as well as the public sector in their quest to reduce carbon emissions and lessen the impact of their operations on the environment,” says Justin Naylor, Chief Executive Officer at iTOO.

TMGX officially launched on 1 September. It will underwrite green initiatives including: onshore wind, offshore wind, solar power, hydropower, small modular nuclear reactors, battery energy storage systems, decommissioning, interconnectors, carbon capture, carbon credits, surety for green projects, credit risks, tax credits, aquaculture, green vessels, project cargo, general liability and hydrogen.

The TMGX launch comes at an opportune time for the region and reflects Hollard and iTOO’s commitment to driving the green transformation across the continent.