The energy landscape is rapidly changing, with traditional oil and gas companies evolving into hybrid energy firms investing in transition technologies like hydrogen, battery storage, and carbon capture. This shift is prompting the insurance industry to adapt to new risk profiles. Insurers are playing a pivotal role in the energy transition by protecting green assets during construction and operation phases and managing risks associated with emerging clean technologies. They are also utilizing advanced data analytics for innovative insurance products and risk management. Challenges for insurers include profitability concerns in construction risks, exposure to natural catastrophes, evolving technological risks, and rising claim costs for energy storage systems. To overcome these challenges, insurers are advised to enhance their expertise in underwriting new technologies like battery energy storage and carbon capture to meet market demands. The article emphasizes the importance of insurers in facilitating investments in the transition to a sustainable economic model and supporting the growth of renewable energy sources. It highlights the need for insurers to proactively plan for sustainable practices, align business strategies with regulatory changes, and address the evolving demands of industries to unlock long-term opportunities in the global energy transition.