Generali China Insurance Targets Trillion-Dollar Green Insurance Market Amid Energy Storage Expansion

Chinese energy storage companies are expanding internationally, with eight of the top ten global suppliers being Chinese in 2025. This growth faces risks such as battery safety and volatile revenue, making traditional insurance models inadequate.

Generali China Insurance's Energy Storage Insurance White Paper suggests that by 2035, the green insurance market could grow from USD 10.9 billion to nearly USD 180 billion. Generali plans to increase its green insurance share to 30%-40% within five years, focusing on the green 'Belt and Road' initiative, where China's new energy sector dominates.

The insurance sector is shifting towards a 'Risk-as-a-Service' model to better accommodate the unique challenges of energy storage projects. Generali's new online risk assessment system aims to enhance safety and risk management in the energy storage industry, while addressing the complexities of lithium battery risks and evolving market needs.