Specialty insurer Beazley said it has reached an agreement to acquire kWh Analytics.
Terms of the deal were not disclosed.
kWh Analytics, a managing general agency, combines data with advanced analytics to deliver insurance and risk management solutions for clean energy assets in the U.S.
Beazley said kWh Analytics will add scalability and enhance its capabilities in modelling, underwriting and risk management across renewable energy portfolios. San Francisco-based kWh Analytics will be part of Beazley’s MAP (Marine, Accident & Political) Risks team.
“The energy transition represents one of the most significant opportunities for the specialty insurance market,” said Beazley CEO Adrian Cox, in a statement. “At Beazley, we see transition underwriting as a dynamic, long‑term driver of structural growth, with investment in the energy transition projected to reach multiple trillions in the next decade.”
kWh CEO Jason Kaminsky will to Tim Turner, group head of MAP Risks and be a part of the transition underwriting strategy, led by Kelly Malynn, senior risk manager.
Kaminsky said the deal will “accelerate the development of risk products and services that support the energy transition. Beazley’s global reach and commitment to innovation make them the right partner to scale our mission.”
Earlier this month, Zurich Insurance Group said it has agreed to buy London-based Beazley for $10.9 billion.
kWh’s licensed insurance subsidiary, Solar Energy Insurance Services, early last month announced a renewal agreement with Aspen Specialty, expanding support of its property insurance offering for renewable energy assets and projects.
Topics
Mergers & Acquisitions
Energy
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