DUAL UK announces new capacity partnership with AXA to support Natural Resources product

DUAL UK today announces the launch of a new capacity agreement with AXA to underpin its Natural Resources product. Supporting the drive to Net Zero, the product is specifically designed for projects using renewable energy technologies such as solar, wind power and hydro. The aim is to support operators of renewable energy technologies through robust, expert-led underwriting with a clear appetite for proven, sustainable solutions. 

With A+ rated security, the product provides cover up to £50 million, with a target premium range up to £150,000 from £2,500 minimum premium. 

The product has been developed by Steve Kelly who joined DUAL in January 2025. Steve has over 35 years’ experience in the insurance industry and a deep technical knowledge of the construction and natural resources market. 

The renewables insurance market has seen remarkable growth in recent years. According to the International Underwriting Association, the renewable energy sector saw year-on-year increases of over 15% in 2024. This upward trend is expected to continue, driven by a surge in investment across both new installations and the re-powering of existing assets, particularly where planning permission and ancillary infrastructure already exists. 

As renewables are projected to supply nearly half of global electricity by 2030, the demand for tailored protection solutions for renewable energy projects is expected to rise significantly.

Government‑backed initiatives are in place, and over £40 billion of private investment in clean energy has been announced in the UK since July 2025.

Catherine Dixon, Chief Underwriting Officer, DUAL UK said: “Steve’s extensive experience and knowledge of the Natural Resources market make him uniquely positioned to lead the development and delivery of this new product, bringing insight and confidence to our partners. With the backing of an A+ rated carrier, this launch demonstrates how DUAL continues to successfully extend into new sectors, supporting clients with their drive to Net Zero. It’s a powerful example of collaboration, expertise and commitment to drive progress in the renewable energy sector.”

Steve Kelly, Managing Director of Construction, DUAL UK, said: “Following significant investment in our Construction capabilities, I’m confident that our new Natural Resources insurance product will position DUAL as the leading MGA in selected renewable technologies. The launch of this product represents a strategic commitment to supporting clients as they navigate the complexities of the energy transition.

“We’re dedicated to enabling progress through responsible insurance solutions, ensuring that risk protection not only safeguards projects, but actively empowers sustainable energy development. By combining technical expertise with a forward-thinking approach, we aim to contribute meaningfully to the UK’s journey toward Net Zero and help shape a resilient, low-carbon future.”