Tokio Marine Holdings Inc has launched underwriting business Tokio Marine GX to offer insurance and risk management solutions to clients decarbonising their operations. It will offer cover of up to $500m and support businesses in multiple sectors ranging from renewable energy and conventional power to construction and industry.

Fraser McLachlan, CEO of GCube, which is part of Tokio Marine & Nichido Fire, has been appointed chairman at TMGX. Ben Kinder, chief underwriting officer for marine, energy and renewables at Tokio Marine HCC International adds the role of CUO at TMGX to his responsibilities.

McLachlan said: “TMGX will harness the collective expertise and experience from across the Tokio Marine Group to stand shoulder-to-shoulder with clients at each stage of their decarbonization journey. Together, we will unlock new commercial opportunities, while creating a greener, more resilient world for tomorrow.”