GCube Insurance, a specialist underwriter for renewable energy projects, has expanded with a new operation in the Sydney office of its parent Tokio Marine.

GCube says the local base, headed by William Hiller who is returning from the UK, will better support clients and broaden its network across Australia and the Asia-Pacific region.

“Putting boots on the ground in Australia is helping us consolidate our position globally, will bring a more diversified risk portfolio to the book, and build our knowledge of growing markets and country-specific risks,” CEO Fraser McLachlan said.

GCube says Australia’s unique environment, varying climatic regions, and increasingly severe natural catastrophes mean the renewables market here poses unique risks for a growing number of developers, asset managers and investors. Its specialist underwriting services cater to the diverse and evolving risks of new markets and technologies.

Mr Hiller returns to Sydney after four years at GCube in London. He was formerly an underwriter at AFM Insurance and a broker at JLT Australia.

GCube has also just opened an operation in Madrid and made five new appointments to its underwriting and claims teams in Europe and North America, saying new strategic hires are in the pipeline as it increases its global presence in marine, property, and liability cover for all renewable energy risks.