CIP joins hands with CR and Marsh Taiwan to hold the "CIP Insurers Day"

Copenhagen Infrastructure Partners (CIP) collaborated with CR Classification Society (CR) and Marsh & McLennan Companies, Inc. Taiwan Branch (Marsh Taiwan) yesterday (21) to hold the "CIP Insurers Day - Offshore Wind Green Insurance Practices" seminar. This marks the third edition of the Insurers Day by CIP, following those in 2019 and 2022. Financial and insurance industry representatives gathered at the event, with all 14 domestic property insurers in attendance, demonstrating the industry's high confidence in CIP's venture into the 3-2 phase of offshore wind power.

Keith Hsu, CFO of CIP, stated that COP 28 has led to an international consensus on "tripling renewable energy and doubling energy efficiency by 2030," emphasizing the crucial role of insurance institutions in combating climate change. CIP is actively developing various innovative energy technologies, including floating offshore wind farms and green electricity-to-hydrogen technology. The introduction and commercialization of these new technologies rely on support from the insurance market. FengMaio Wind Farm, in the CIP 3.1 phase, has received strong support from domestic insurance companies, having obtained letters of intent for cooperation from all 14 domestic insurers during the pre-bid stage. This exchange will continue the industry's support for CIP, laying a foundation for developing wind farms in the 3-2 phase and introducing innovative energy technologies in Taiwan.

Seth Peller, CEO of Marsh Taiwan, mentioned that a study released by the Geneva Association in January this year pointed out the critical role of the insurance industry in carbon reduction, providing risk identification and management during the process of introducing innovative carbon reduction technologies and expanding commercial scale. Marsh Taiwan has served as the project insurance consultant for CIP since the potential site stage, witnessing CIP's commitment to innovative energy technologies and business models. With CIP's long-term layout in Taiwan and strong market appeal, Marsh Taiwan will assist local insurance companies in delving deeper into various areas of green energy and carbon reduction.

Wei-Chun Hsieh, Director of CR, stated that since participating in the first CIP Insurers Day in 2019, CR has collaborated with CIP to promote offshore wind insurance practices in Taiwan. Starting from becoming the first Marine Warranty Survey (MWS) provider in Taiwan, CR has continuously provided verification and risk identification services to ensure effective protection of the interests of insurance companies and insured parties.