Delta Lloyd’s Offshore Wind Insurance Activities Reach 6,000MW

The insurance activities of Delta Lloyd in Europe in the field of offshore wind energy have grown over the past two years from 1000 megawatt (MW) to 6000 MW. This represents the electricity needs of six million households.

Two years ago, the Dutch insurer built a special Wind Energy Team that focuses exclusively on providing insurance services for offshore wind farms. Delta Lloyd is among the top three insurers in the European offshore wind power market and is expected to grow further here in the coming years.

English Market

In England, Delta Lloyd is involved in providing insurance services for 10 offshore wind farms including London Array and Greater Gabbard. The Wind Energy Team insures more than 600 turbines in England representing a capacity of over 2200 MW. In Ireland Delta Lloyd recently began operating as an active insurer of the Arklow wind farm.

Alongside wind farms in the UK and Ireland, Delta Lloyd also provides insurance coverage for wind farms in Germany, Denmark, Belgium, Portugal and the Netherlands. The total portfolio of Delta Lloyd in Europe consists of 25 offshore wind farms with more than 1650 turbines.

Delta Lloyd insures not only the erection of wind farms, but also covers the operational phase. In this way, the Dutch insurer provides a comprehensive and seamless coverage for the entire lifespan of a wind farm.

Experience since 1970s

The first experience of Delta Lloyd with wind farms dates back to the early 70s and, in the decades following, the insurer has developed significant technical know-how in the field of wind power. By creating an offshore Wind Energy Team, two years ago, Delta Lloyd aims to further develop its activities in this growth market. This team consists of insurance specialists and engineers so that all knowledge is amassed.

Maarten Mulder, Underwriting Manager – Engineering at Delta Lloyd explained: “Since the establishment of our Wind Energy Team two years ago, our portfolio in the field of offshore wind power has increased six fold. In the coming years, we expect strong growth in the market for offshore wind energy. Delta Lloyd has the ambition to grow in this area and to continue as a top three insurer in this arena.”

[mappress]

Press release, February 28, 2014; Image: londonarray