Hollard, South Africa’s largest privately-owned insurance group, together with iTOO Special Risks, its specialised underwriter, is solidifying its commitment to sustainable business practices with the launch of Tokio Marine GX (TMGX). This revolutionary platform is dedicated to providing tailored underwriting solutions for businesses aiming to decarbonise operations and embrace the green transition.
In 2018, Tokio Marine acquired a 22.5% stake in Hollard, fostering a strategic partnership that leverages advanced technology and world-class underwriting solutions for Hollard’s and iTOO’s clients. Now, with TMGX, these synergies have grown even stronger, creating new opportunities for businesses across multiple sectors.
“We are proud to be part of Tokio Marine and launch this green innovation. It provides a single access point to help businesses on every stage of their energy transition,” says Andrew Coutts, Chief Executive Officer, Hollard Insure.
Comprehensive solutions for decarbonisation
TMGX offers a comprehensive suite of products and services designed to manage risks associated with transitioning to a greener economy. Businesses engaging in decarbonisation will benefit from specialist insurance products, risk management, and green transformation targets.
“iTOO is the market leader in renewable energy insurance in Africa and is deeply invested in supporting industries. We’re excited about collaborating with Tokio Marine to provide tailored green solutions for both the private and public sectors,” says Justin Naylor, CEO at iTOO.
Key sectors covered by TMGX
Officially launched on 1 September, TMGX encompasses a wide range of green initiatives, including:
- Renewable energy projects: onshore/offshore wind, solar power, hydropower.
- Innovative technologies: small modular nuclear reactors, hydrogen systems.
- Decarbonisation strategies: carbon credits, capture, tax credits.
- Specialised areas: aquaculture, green vessels, project cargo, and general liability.
This milestone underscores Hollard’s and iTOO’s dedication to fostering green development and reflects their long-term goal of transforming African industries towards sustainability.
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