Hollard and Itoo Launch TMGX to Support Green Transition Across Multiple Sectors

Hollard, the largest privately owned insurance group in South Africa, in collaboration with Itoo Special Risks, has taken a significant step towards positioning themselves as the preferred insurance partners for the green transition. The recent launch of Tokio Marine GX (TMGX) marks a pivotal moment for businesses across various sectors aiming to decarbonize their operations.

This innovative platform, which commenced operations on September 1, provides tailored underwriting solutions that cater to the unique needs of businesses embarking on their energy transition journeys. The strategic partnership between Hollard and Tokio Marine, which began in 2018 with Tokio Marine acquiring a 22.5% stake in Hollard, has paved the way for enhanced technological access and world-class insurance offerings.

Andrew Coutts, CEO of Hollard Insure, expressed pride in being part of this transformative initiative, emphasizing the platform's ability to unlock new opportunities and serve as a single point of access for businesses at all stages of their green transition. Meanwhile, Justin Naylor, CEO of Itoo, highlighted the company's leadership in cradle-to-grave renewable energy insurance in Africa and their enthusiasm to deepen collaboration with Tokio Marine to deliver specialized solutions that aid both industries and the public sector in reducing carbon footprints.

TMGX is set to underwrite a diverse array of green initiatives, including onshore and offshore wind, solar power, hydropower, and innovative technologies such as small modular nuclear reactors. Additionally, it will cater to sectors involved in battery energy storage, carbon capture, and various other environmentally friendly projects. The launch of TMGX comes at a critical juncture for the region, reinforcing the commitment of Hollard and Itoo to drive sustainable transformation across the African continent.