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    TenneT Reinsurance N.V. - Retrocession / Structured Reinsurance

    TenneT Offshore GmbH

    TenneT Reinsurance N.V. - Retrocession / Structured Reinsurance

    1. Competition notice published

      Nov 5, 10:31 AMNovember 5, 2024 10:31 AM
    2. Qualification deadline

      Nov 22, 11:00 AMNovember 22, 2024 11:00 AM
    3. Contract start date

      Jan 1, 12:00 AMJanuary 1, 2025 12:00 AM
    4. Contract end date

      Dec 31, 12:00 AMDecember 31, 2029 12:00 AM

    Brief

    Germany: Tenders/TenneT Offshore GmbH/TenneT Reinsurance N.V. - Retrocession / Structured Reinsurance

    Published deadline passed

    The published deadline has passed. For multi-stage competitions a later tender deadline may still apply — check the notice or portal for the current phase.

    Brief

    TenneT Reinsurance N.V. (TenneT Re) was established as a reinsurance captive insuring the retained risks for the offshore related insurances. In accordance with the submission of the captive business plan to the regulator, TenneT Re requires a reinsurer(s) to provide P&L support once losses within the primary €20m layer exceed €80m annually. In that respect TenneT Re is looking for an experienced, reliable, and highly professional reinsurance partner(s).   The contracting authority is TenneT Reinsurance N.V. TenneT is a leading European Transmission System Operator (TSO) with its main activities in the Netherlands and Germany. With more than 23,000 kilometres of high-voltage lines, we ensure a reliable and secure supply of electricity to 41 million end-users. With approximately 4,500 employees, we realise a turnover of EUR 4.2 billion and a total asset value of EUR 22 billion. TenneT is one of the largest investors in national and international electricity grids on land and at sea. Our focus is on developing an integrated Northwest European energy market and facilitating the energy transition. TenneT is committed to meeting society's needs by being responsible, engaged and connected. Taking power further. TenneT Reinsurance N.V. is a fully-owned reinsurance company, domiciled in the Netherlands.  Tender Procedure TenneT is a "contracting entity" subject to the Public Procurement Act 2012. The notice for this Call for Competition will be published via tender platform Mercell Source-to-Contract to the Official Journal of the European Union available at http://ted.europa.eu. The Call for Competition will be based on the negotiated procedure with prior publication, which means that initially an interested market party may apply as a Candidate. Details on general tender procedure can be found in the document "Procedure Guidelines". Please note: TenneT reserves the right to directly award the contract to the initial tenderers on the basis of the published evaluation procedure without negotiations (§ 15 (4) SektVO). In that respect initial offers need to be binding.  Award Criteria "Price" / weighting: 50% "Technical Concept" / weighting: 50 % In order to protect the confidentiality of the information provided by the client in the tender documents, it is mandatory to conclude a confidentiality Agreement as per "NDA" document provided for download via Mercell. Please send the signed and stamped copy to: michael.gerlich@tennet.eu After sending the NDA and a plausibility check by the Client, the Client will grant the interested parties access to the tender by Email. After registering for the tender at Mercell Source-to-Contract, you will find all tender documents in the call for competition phase under "Questionnaires", section "Call for Competition", question 1.1.  The bidder can not deduce eligibility for participation only from signing and submitting the NDA. TenneT will only accept tenderers who successfully qualify during the call for competition phase to participate in the offer phase.  The application for the call for competition must be submitted in due time and no later than by                                21.11.2024 at 12:00 CET via the e-Award platform Mercell Source-to-Contract. Individual extensions of time will not be granted. Please start your upload process early enough. Submission of the request to participate (applications) by Email, mail or fax are not permitted. A violation of this requirement will lead to disqualification of the applicant and exclusion from the tender process. Please make sure to familiarize yourself with the Schedule, Questionnaires, Messages section and the Q&A section early enough and thoroughly read through all relevant documents.  In case of technical difficulties, please reach out to Mercell: Servicedesk Mercell: support-nl@mercell.com Phone: +31 (0) 85-001 4593 Opening hours: 9:00-17:00 CET

    About the bid

      TenneT Reinsurance N.V. (TenneT Re) was established as a reinsurance captive insuring the retained risks for the offshore related insurances. In accordance with the submission of the captive business plan to the regulator, TenneT Re requires a reinsurer(s) to provide P&L support once losses within the primary €20m layer exceed €80m annually. In that respect TenneT Re is looking for an experienced, reliable, and highly professional reinsurance partner(s).   The contracting authority is TenneT Reinsurance N.V. TenneT is a leading European Transmission System Operator (TSO) with its main activities in the Netherlands and Germany. With more than 23,000 kilometres of high-voltage lines, we ensure a reliable and secure supply of electricity to 41 million end-users. With approximately 4,500 employees, we realise a turnover of EUR 4.2 billion and a total asset value of EUR 22 billion. TenneT is one of the largest investors in national and international electricity grids on land and at sea. Our focus is on developing an integrated Northwest European energy market and facilitating the energy transition. TenneT is committed to meeting society's needs by being responsible, engaged and connected. Taking power further. TenneT Reinsurance N.V. is a fully-owned reinsurance company, domiciled in the Netherlands.  Tender Procedure TenneT is a "contracting entity" subject to the Public Procurement Act 2012. The notice for this Call for Competition will be published via tender platform Mercell Source-to-Contract to the Official Journal of the European Union available at http://ted.europa.eu. The Call for Competition will be based on the negotiated procedure with prior publication, which means that initially an interested market party may apply as a Candidate. Details on general tender procedure can be found in the document "Procedure Guidelines". Please note: TenneT reserves the right to directly award the contract to the initial tenderers on the basis of the published evaluation procedure without negotiations (§ 15 (4) SektVO). In that respect initial offers need to be binding.  Award Criteria "Price" / weighting: 50% "Technical Concept" / weighting: 50 % In order to protect the confidentiality of the information provided by the client in the tender documents, it is mandatory to conclude a confidentiality Agreement as per "NDA" document provided for download via Mercell. Please send the signed and stamped copy to: michael.gerlich@tennet.eu After sending the NDA and a plausibility check by the Client, the Client will grant the interested parties access to the tender by Email. After registering for the tender at Mercell Source-to-Contract, you will find all tender documents in the call for competition phase under "Questionnaires", section "Call for Competition", question 1.1.  The bidder can not deduce eligibility for participation only from signing and submitting the NDA. TenneT will only accept tenderers who successfully qualify during the call for competition phase to participate in the offer phase.  The application for the call for competition must be submitted in due time and no later than by                                21.11.2024 at 12:00 CET via the e-Award platform Mercell Source-to-Contract. Individual extensions of time will not be granted. Please start your upload process early enough. Submission of the request to participate (applications) by Email, mail or fax are not permitted. A violation of this requirement will lead to disqualification of the applicant and exclusion from the tender process. Please make sure to familiarize yourself with the Schedule, Questionnaires, Messages section and the Q&A section early enough and thoroughly read through all relevant documents.  In case of technical difficulties, please reach out to Mercell: Servicedesk Mercell: support-nl@mercell.com Phone: +31 (0) 85-001 4593 Opening hours: 9:00-17:00 CETMain features of the procedureThe tender will take place exclusively digitally via the Mercell S2C platform. All information about this tender is available to Tenderers within this platform. Further explanations on digital tendering can be found here. Information on the procedure TenneT is a "contracting entity" subject to the Public Procurement Act 2012. The notice for this Call for Competition will be published via tender platform Mercell Source-to-Contract to the Official Journal of the European Union available at http://ted.europa.eu. The contracting authority is TenneT Reinsurance N.V. The information in the Procedure Guidelines and EU-announcement must be observed and adhered to by the tenderer/bidder. The Procedure Guidelines for this tender describe the general tendering process and the obligations of the bidders. It also contains a guideline for the call for competition phase and the offer phase.  Please download the procedure guidelines and read it carefully. Important: Please submit your questions, if any, exclusively via the Questions & Answers module. Important: the documents to be provided by you need to be submitted via the questionnaire only. Please do not submit documents by other means- for example via email - this may lead to exclusion from the tender.  Important: right for direct award of contracts TenneT reserves the right to award the contract to the initial tenderers / bids (offers submitted in the offer phase) on the basis of the published evaluation procedure without negotiations and BAFO (§15 (4) SektVO).  Methodology of the Offer/BAFO-evaluation The tenders/bids will be evaluated and on the basis of the award criteria and weighting provided under section 5.1.9. of the EU announcement (see also the weightings of the questionnaire headers in the offer phase).  For each criterion - except for the evaluation criterion "price", which has to be dealt with separately - a comparative evaluation is carried out and the bidders are ranked according to their performance within this criterion. The ordinal ranking is then multiplied by the weighting of the respective criterion. The weighted rankings of all criteria are added together. The bidder with the best overall ranking is considered to be the most economically advantageous bidder (the best performance receives the lowest value and, conversely, the lowest performance receives the highest value, depending on the number of bidders) and is thus placed in first place. Price: The price criterion is based on the following evaluation of the bids/offers: The bid with the lowest bid price will be ranked at 1.00. Any bid that exceeds 2 times the lowest bid price will be awarded the last rank, which always corresponds to the number of bids submitted and evaluated. The evaluation of the bid prices which lie in between is carried out by means of linear interpolation with up to two decimal digits.  Technical concept: The technical parts of the offers are evaluated against the client’s requirements laid out in the tender documents and assessed on a comparative basis (relative method).

      Contact name
      Michael Gerlich
      Contact phone
      +491727548576
      Contact email
      michael.gerlich@tennet.eu
      Address
      Bernecker Straße 70, 95448 Bayreuth

    Custom Assessment Criteria

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    Award Criteria

    • Description

      Insurers are asked to provide a fixed annual reinsurance margin based on an annual funding. Details can be found on the according price sheet.

      Evaluation Method

      The bid with the lowest bid price will be ranked at 1.00. Any bid that exceeds 2 times the lowest bid price will be awarded the last rank, which always corresponds to the number of bids submitted and evaluated. The evaluation of the bid prices which lie in between is carried out by means of linear interpolation with up to two decimal digits.

    • Description

      The technical parts of the offers are evaluated against the client’s requirements laid out in the tender documents and assessed on a comparative basis (relative method).

      Sub-criteria

      Description

      Describe your experience designing structured reinsurance solutions for captives.

      Description

      Outline your experience of providing reinsurance solutions for captives of renewable energy / transmission and distribution companies.

      Description

      Confirm your ability to provide reinsurance with no letter of credit requirements (Dutch Ministry of Finance is the 100% owner of TenneT) - If required, confirm level of collateral required i.e. letter of comfort, letter of guarantee.

      Description

      Please confirm if you are able to provide a structured reinsurance program on a post-loss basis.

      Description

      Please explain the profit commission terms if the programme is not on a post-loss funding basis.

      Description

      If your structured reinsurance offering operates on a 5-year "Loss occurring" basis, please explain the extension provisions for the maintenance period and/or delays and the connection to the profit commission provision.

    Qualification requirements

    • Description

      The candidate must be in sound financial health to assure the continuity of service provisioning throughout the term of the contract or (framework) agreement. In order to demonstrate sufficient economic performance, the applicants needs to prove a Standard & Poor's rating of A- or equivalent rating from Fitch and/or Moody's.

      Documentation Requirement

      The applicant confirms its acceptance of these provisions and that it complies with the respective rating as stated above. Furthermore the applicant agrees that TenneT's broker is allowed to check/verify applicant's confirmation. As soon as the documentary evidence is requested, the applicant must send the documentary evidence by E-Mail within five days.

    • Description

      In particular and in order to guarantee a proper claims settlement, a minimum annual turnover for insurer of at least Mio. EUR 500 must be existent for the past three financial years. The turnover must originate from services that are comparable to the services to be provided, e.g. underwriting activities. In the case of a bidder consortium the aforementioned sales are based on the cumulative turnover of the consortium partners. For each individual bidder or consortium partner, the total turnover of the group is deemed to be 100% owned by the group parent company.

      Documentation Requirement

      The applicant confirms its acceptance of these provisions. Furthermore the applicant agrees that TenneT's broker is allowed to check/verify applicant's confirmation. As soon as the documentary evidence is requested, the applicant must send the documentary evidence by E-Mail within five days.

    • Description

      Is the applicant or bidding consortium making use of the capacities of another economic operator (3rd party) in order to meet the economic and financial minimum criteria according to section III.1.9? If so - In the following, please provide evidence of your suitability borrowing: The 3rd party will be jointly and severally liable with the applicant in the event of a contract award in accordance with the scope of the suitability borrowing (form A3a). The 3rd party must fulfil the corresponding minimum criteria of this section III.1.9.

      Documentation Requirement

      In addition, the 3rd party must provide the extract from the commercial register and the form or a self-declaration on grounds for exclusion pursuant to Sections 123, 124 GWB (form A7). The forms provided in Mercell for the suitability borrowing as well as the corresponding forms for the fulfilment of the further minimum criteria have to be used.

    • Description

      The applicant has to complete, sign and upload the attached Form A1. The application as a bidding consortium is admitted. A bidding consortium is treated like an individual applicant (Section 50 para. 2 SektVO). If applicants are addressed in the tender documents, this also refers to the joint form of participation of a bidding consortium. In this respect, regulations which specifically are related to bidding consortia, exclusively use the term "Bidding Consortium." The bidding consortium shall nominate an authorized representative for the conclusion and implementation of the contract and who signs form A1. The authorized representative shall be available to the contracting entity as the contact person of the bidding consortium in this tendering procedure.

      Documentation Requirement

      Members of the bidding consortium shall jointly complete the form "Statement of Bidding Consortium" (Form A2), which also names the authorized representative. If applicable, please complete, sign and upload the attached Form A2.

    • Description

      Please provide a proof of Registration in a commercial register of the relevant authority of the country in which the company is established (e. g. Kamer van Koophandel (NL), Handelsregister (DE), Companies house (UK), erhvervsstyrelsen (DK), Companies registration office (IE)), which may not be older than three months at the date of the submission of the application.

      Documentation Requirement

      Proof of Registration in a commercial register of the relevant authority of the country in which the company is established (e. g. Kamer van Koophandel (NL), Handelsregister (DE), Companies house (UK), erhvervsstyrelsen (DK), Companies registration office (IE)), which may not be older than three months at the date of the submission of the application.

    • Description

      Please confirm that no grounds for exclusion under §§ 123, 124 GWB exist. For bidding consortia this statement must be valid for all members of the bidding consortium.

      Documentation Requirement

      The applicant confirms its acceptance of these provisions. Furthermore the applicant agrees that TenneT's broker is allowed to check/verify applicant's confirmation. As soon as the documentary evidence is requested, the applicant must send the documentary evidence by E-Mail within five days.

    • Description

      The applicant must be able to evidence the relevant authorization in accordance with legislation and regulation of insurance companies in the countries where the tenderer is established, e. g. FSA (UK), BaFin (GE) or WFT (NL).

      Documentation Requirement

      The candidate confirms its acceptance of these provisions. Furthermore the applicant agrees that TenneT's broker is allowed to check/verify applicant's confirmation. As soon as the documentary evidence is requested, the applicant must send the documentary evidence by E-Mail within five days.

    • Description

      The applicant for this captive structured reinsurance programme is required to confirm they can offer the following reinsurance structure: Minimum €20m each loss, Minimum €60m annual aggregate, Minimum €147.5m term aggregate, All of which is excess of the captive €80m annual aggregate deductible

      Documentation Requirement

      Not specified.

    • Description

      The candidate must be capable of providing either of: a structured reinsurance program with a policy duration of at least 5 years on a “Projects attaching” basis. a structured reinsurance program with a policy duration of 5 years on a “Loss occurring” basis with an extension period beyond the 5 years, up to the completion of the last project including any maintenance period.

      Documentation Requirement

      The candidate confirms its acceptance to at least one of the named structures (Option 1 / Option 2 / Both)

    • Description

      The applicant for this captive structured reinsurance tender should be capable of accepting the following underlying class of business: Operational all risk, both offshore and onshore; Construction all risk, both offshore and onshore, including third-party liability

      Documentation Requirement

      Not specified.

    • Description

      The applicant confirms his ability to provide cover for 100% of the reinsurance structure described in 1.4.1

      Documentation Requirement

      Not specified.

    • Description

      The applicant agrees to the application of Netherlands law and jurisdiction within the reinsurance agreement.

      Documentation Requirement

      Not specified.

    • Description

      To demonstrate that the applicant is capable of underwriting a structured reinsurance programme that includes Operational all risk (offshore and onshore) and Construction all risk (offshore and onshore) business, the applicant must have at request one reference for contracts performed by the applicant in these lines of business, which is not prior to January 1, 2022. The detail of the reference should include the following specifics: Policy description, Company name, Start and end date of contract, Total Sum Insured / Project cost should be a minimum 1bn EUR for either Operational all risk or Construction all risk

      Documentation Requirement

      The applicant confirms its acceptance of these provisions. Furthermore the applicant agrees that TenneT's broker is allowed to check/verify applicant's confirmation. As soon as the documentary evidence is requested, the applicant must send the documentary evidence by E-Mail within five days.

    • Description

      Is the applicant or bidding consortium referring to the suitability of another economic operator (3rd party) in order to meet the technical minimum criteria according to section III.1.9? If so - In the following, please provide evidence of your suitability borrowing: The 3rd party has to submit a confirmation that he will make his technical capability available in the event of a contract award (form A3b).

      Documentation Requirement

      Furthermore, detailed information on the 3rd party must be provided (form A1). In addition, the respective 3rd party must submit a self-declaration that there are no grounds for exclusion pursuant to Sections 123 and 124 of the GWB (form A7). The technical borrowing qualification can be provided by several potential 3rd parties for the fulfilment of the selection criteria.

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    See the full notice

    Contracting authority
    TenneT Offshore GmbH
    Title
    TenneT Reinsurance N.V. - Retrocession / Structured Reinsurance
    Type
    CompetitionPrequalification
    Main code
    66700000Reinsurance services
    Supplemental codes

    No supplemental codes from buyer…

    Location
    Arnhem/Nijmegen
    Estimated value
    €0.00

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