JLT Re wins recognition for market leading innovation
28 November 2017
- JLT Re scoops prestigious award for innovative product aimed at solar industry
JLT Re, the global provider of reinsurance broking and consultancy, has won Insurance Initiative of the Year Award at this year’s Insurance Day Awards 2017.
The award, which recognises the benefits of innovative products within the insurance market, was won for JLT Re’s partnership with leading data repository and risk management provider in the solar industry, kWh Analytics, to create a risk transfer product insuring solar energy output.
Leveraging their industry-leading database, kWh reduces the overall cost of financing by providing a Solar Revenue Put that brings down the risk of loss for lenders, enabling lenders to reduce debt service coverage ratios for asset owners.
JLT Re and kWh Analytics, a global provider of specialty insurance and reinsurance products who were instrumental in helping design the product and provided $100 million of insurance coverage, injecting further liquidity to the growing $500 billion solar energy industry – which is expected to grow into a $1 trillion asset class over the next few years.
Keith Harrison, CEO UK & Europe, JLT Re said, ‘This award for Insurance Initiative of the Year exemplifies what solutions can be achieved through collaboration between colleagues at JLT Re and great partners in kWh. The innovative thinking of our US and London teams led by Gregg Holtmeier and Mark Sleet not only found a way to recognise and extract the value of kWh’s data and expertise but also to design and transact a viable long term insurance product that provides huge value to all in the chain, from the insured customer to insurer.”
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NOTES TO EDITORS:
About JLT Re
JLT Re's trusted team of 700 colleagues worldwide combines market leading expertise and proprietary analytical tools with the freedom to challenge conventions.
Deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industries and sectors enables JLT Re to ask smarter questions, innovate and deliver better results tailored to meet client needs.
JLT Re is a trading name and logo of various JLT reinsurance broking entities and divisions globally and any services provided to clients by JLT Re may be through one or more of JLT’s regulated businesses.
JLT Re is part of the Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world';s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT's client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com