Ascot Underwriting has established a specialist renewable energy unit called Ascot Renewco Underwriting. Based in London, Ascot Renewco will offer onshore and offshore coverage for power generation facilities in the solar, wave, tidal, wind, biomass, geothermal and small hydroelectric fields against risks from shipment to installation to operating, the company says.
Ascot Renewco will be formally launched in September. The unit will be headed by David Wright, who was previously global practice leader for XL Capital's war and political risks division. Wright will be joined initially by two underwriters, Roger Earnshaw and Warren Diogo.