Beazley has disclosed plans to acquire kWh Analytics, a US managing general agent specialising in renewable energy.
Financial terms of the deal remain undisclosed.
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The insurer stated that this move aims to enhance its expertise in modelling, underwriting, and managing risks associated with renewable energy portfolios.
As part of the integration, kWh Analytics will become part of Beazley’s Marine, Accident & Political (MAP) Risks division.
Jason Kaminsky, CEO of kWh Analytics, will report to Tim Turner, group head of MAP Risks, and will be involved in Beazley’s underwriting activities focused on energy transition, under the leadership of Kelly Malynn.
Kaminsky said: “Joining Beazley represents an exciting new chapter for kWh Analytics. Together, we 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.”
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By GlobalDataAdvisers for the deal included Evercore Partners International as financial adviser and Freshfields Bruckhaus Deringer as Beazley’s legal adviser. McDermott Will & Schulte provided legal advice to kWh Analytics.
Beazley CEO Adrian Cox commented: “The energy transition represents one of the most significant opportunities for the specialty insurance market. 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 Analytics’ reputation as an innovative player in the renewable energy space is well established, and this acquisition reflects our continued investment in the capabilities needed to support our transition clients with solutions to complex risk. I am excited to work with the fantastic team at kWh Analytics.”
Earlier this month, Zurich Insurance Group raised SFr3.9bn ($5.02bn) through an accelerated book-building process to help fund its planned acquisition of Beazley.
Zurich previously stated that Beazley shareholders would receive £13.35 ($17.91) per share, comprised of £13.10 in cash and a permitted interim dividend of 25p per share for the year ending 31 December 2025, payable on 1 May 2026.
