Munich Re to insure battery manufacturer Hithium

Munich Re and Hithium have signed an agreement concerning the coverage of production and performance risks for the manufacturer of batteries and energy storage systems (ESS). Under the terms of the agreement, Hithium will be covered against performance degradation and defects risks for a period extendable up to 15 years.

ESS play a key role in the transition to renewable energy. This partnership between Munich Re and Hithium reflects the reinsurer's commitment to the fight against global warming, despite its withdrawal from the Net-Zero Insurance Alliance (NZIA) in the first half of 2023.