Tokio Marine GX names Litterick head of renewables

By Chris Munro

July 10 - (The Insurer) - Newly launched Tokio Marine GX (TMGX) has named Oliver Litterick as head of renewables, an appointment that seems him move across from sister company GCube.

As reported by Sustainable Insurer in May, Tokio Marine launched TMGX as it looks to cement a foothold in the expansive renewable energy market amid what is expected to be an increase in demand for coverage to support the green energy transition.

TMGX builds upon the existing offerings of GCube, the renewable energy MGA that was acquired by Tokio Marine HCC in 2020, and also Tokio Marine & Nichido Fire’s offshore marine capabilities and additional expertise drawn from across the Japanese insurance holding company’s global operations.

Prior to his new role, Litterick was head of renewables at GCube. Before joining GCube in 2022, Litterick spent six years at Chaucer, while his career also includes time at RKH Specialty and Howden.

“Litterick has been at the forefront of GCube’s work supporting developers, asset owners and brokers through the fast-evolving global renewables landscape,” TMGX said.

“In his new role, Olly will help strengthen our proposition across onshore wind, offshore wind, solar and storage,” the startup added.

Other appointments at TMGX include Fraser McLachlan, CEO of GCube, who has been named chairman of the newly formed operation, while Ben Kinder serves as chief underwriting officer in addition to his role as CUO for marine, energy and renewables at Tokio Marine HCC International.

In an interview with Reuters in May, McLachlan said TMGX will offer up to $500 million in cover on any single risk and is targeting at least a 10% share of global premiums by 2030, estimated at around $10 billion.

The new technologies TMGX would look to cover include small and middle-market nuclear, hydrogen, fuel cells, new solar technologies including floating solar and electric vehicles, McLachlan said at the time.