Casper Specialty UK has announced the launch of Tundra Specialty, a new business focused on the renewable energy sector.
The launch marks the first step in Casper’s plan to expand its product range, with Tundra Specialty expected to begin writing business by the end of 2025. It will operate under the Casper platform but will maintain its own brand identity and underwriting strategy.
Tundra Specialty will be led by Matthew Melville, who was previously founder and CEO of Albus, part of Ryan Specialty Group. Melville has also held the position of head of renewable energy at both Travelers and AXIS Capital.
Roger Mclean will join as head of distribution, with additional staff set to join after completing their current contractual obligations.
Bradley Knight (pictured above), CEO at Casper, said, “Attracting a highly regarded underwriter and leader of Matthew’s standing is testament to this. We are excited to start building out the Casper proposition with distinct underwriting brands that capitalise on specialist opportunities, beginning with Tundra.”
Research from FM Global and WTW has highlighted that resilience and risk management are now central to insuring and financing renewable energy projects. The sector is experiencing strong expansion plans, with 97% of solar developers and 95% of onshore wind operators expecting to increase output within three years.
However, the studies also show that access to capital remains a challenge, as 64% of lenders and 58% of investors believe current demand for renewable energy project funding exceeds supply. Project resilience is now a key factor influencing investment willingness, valuations, and contractual terms for stakeholders in this space.
"As the global transition to cleaner energy sources accelerates, renewables is a major opportunity for the insurance industry – we are seeing this both through increased demand from clients and through growing appetite from capacity providers," Melville said.
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