Slide 1: Carbon Capture and Storage – Emerging risk or Opportunity?
Carbon Capture and Storage – Emerging risk or Opportunity? Underwriting considerations - Michele Cibrario
Slide 2: Energy Upstream is a complex industry driven by a multitude of factors
Energy Upstream is a complex industry driven by a multitude of factors (many parties, many contracts, major investments, edge technologies, long lead times) Key examples: a. Vertical integration of value chain of the Energy Industry b. National Oil Companies entrusted by Sovereign States to manage h
Slide 3: The ART of underwriting
The ART of underwriting Looking back Looking forward Experience Exposure • Loss history • Age • Recent upgrades/works (min. 5 years incl. DoL, cause of loss, insured, asset name, location) • Previous loss/stress history • Type of wells Underwriting considerations with a focus on Carbon Capture and U
Slide 4: Main underwriting considerations
Main underwriting considerations ➢ Type of asset / Field layout / Water depth ➢ Location (nature perils hazard, formation type) ➢ Age of facility and loss history ➢ List of wells (type, depth) ➢ Operator experience (relative to field: water depth, well depth, location) ➢ Type of activities and locat
Slide 5: The role of the Upstream Energy reinsurer
The role of the Upstream Energy reinsurer ✓ Treaty market leader for Energy excess of loss treaties ✓ net capacity provider Underwriting considerations with a focus on Carbon Capture and Utilization (CCUS), Michele Cibrario 5
Slide 6: Thank you for your attention!
Thank you for your attention!
Slide 7: sigma 1/2022 | May 2022
sigma 1/2022 | 18 May 2022
Slide 8: Legal notice
Legal notice ©2023 Swiss Re. All rights reserved. You may use this presentation for private or internal purposes but note that any copyright or other proprietary notices must not be removed. You are not permitted to create any modifications or derivative works of this presentation, or to use it for