New Energy Risk Announces the Promotion of Dr. Brentan Alexander to President in Response to Continued Business Acceleration

SAN FRANCISCO, Nov. 8, 2021 /PRNewswire/ -- New Energy Risk (NER), a member of the AXA XL group of companies, announced the promotion of Dr. Brentan Alexander to president. This strategic appointment recognizes his nine years of contributions to NER's success, including in his former roles as chief science officer and chief commercial officer. In this new position, Dr. Alexander leads the company's near-term strategy, operations, and product execution, leveraging NER's platform to address rapidly increasing demand for NER's insurance solutions and services given the accelerating proliferation of new technologies.

Dr. Alexander's appointment is representative of NER's central role in driving the scale of new energy technologies in 2021, during which the company:

• surpassed $2.8B in aggregate client project capital supported by over $1.4B of insurance capacity;
• realized greater revenue by Q3 than in any prior year since its founding in 2010; and
• hired three new full-time staff members to support business development, actuarial modeling, and client diligence.

The company is experiencing a rising need for its unique risk assessment and underwriting services, particularly with dramatic increases in capital flowing into emerging technologies in the energy transition and other ESG-related sectors. NER is Underwriting a Greener Future™ by further developing new products to meet shifts in the economy as energy sources transition toward sustainability and industries decarbonize. The company has also implemented its own ESG client framework during this critical period to better respond to these market trends.

To facilitate NER's rapid progress, the company also announced the promotion of Dvorit Mausner to managing director, operations. In this new role, Ms. Mausner provides key strategic and tactical support across all business functions. Tom Dickson, CEO of New Energy Risk, will continue to provide his leadership for expanded strategic relationships with NER's key partners, focused on insurance capacity, product expansion, and long-term strategy.

On NER's accelerating business momentum, Mr. Dickson remarked, "The future for New Energy Risk is very bright as we both strengthen and expand our business across new sectors and geographies. By adding to and promoting from within our team, we are able to streamline operations for an increasing number of clients who recognize NER's expertise in emerging technology risk transfer."

Tom Hutton, chairman and founder of NER, added, "New Energy Risk is advancing a cleaner future through its performance insurance solutions. It is no wonder that business is booming as more capital is prioritized for ESG investments. Brentan's promotion is a wonderful next step in the evolution of New Energy Risk as it grows significantly to meet this demand for impactful technologies addressing global challenges."

About New Energy Risk

New Energy Risk is a pioneer of large-scale, breakthrough technology performance insurance solutions. Founded in 2010, the company provides complex risk assessment and serves as a bridge between technology innovators, financiers, and insurers. Insurance policies are administered through New Energy Risk affiliate Complex Risk and Insurance Associates, LLC, CA License #0I24307. To learn more visit www.newenergyrisk.com.

About AXA XL

AXA XL provides insurance and risk management products and services for mid-sized to large multinational companies, and reinsurance solutions to insurance companies globally. As a leading global insurer, AXA XL offers services in over 200 countries and territories for 90% of Fortune 500 businesses. To learn more visit www.axaxl.com.

Media Contact: Dvorit Mausner, [email protected]

SOURCE New Energy Risk