Insurer Markel International and broker Willis have established a dedicated insurance facility for the nuclear sector.
The framework provides end-to-end capacity across the full life cycle of nuclear projects.
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The facility covers property damage and business interruption for both nuclear-critical and conventional exposures.
It is available from construction through to operation, using quota share or excess of loss bases.
Complementing Existing Market Structures
The new system is designed to sit alongside existing market structures rather than replace them.
It addresses limitations of traditional placement models that typically draw capacity from multiple markets.
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Willis natural resources global head Rupert Mackenzie said: “We are pleased to be working with an innovative insurer like Markel to launch a facility that provides a diversification option that addresses the scale and complexity of today’s nuclear facilities.”
Growing Nuclear Investment
The launch comes during a period of accelerating global nuclear investment.
The World Nuclear Association indicates around 70 reactors are under construction worldwide, with more than 100 additional units in planning.
Rising electricity demand from data centers and artificial intelligence technologies is further accelerating interest in nuclear energy.
The International Energy Agency projects data center power consumption will more than double by 2030.
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Utilities and technology companies are seeking reliable, low-carbon baseload generation.
Nuclear power, including small modular reactors, is widely regarded as one of the few technologies capable of meeting that demand continuously.
Markel International London Market managing director Rohan Davies added: “This joint facility with Willis is our answer to that: tailored, specialist capacity structured for the complexity of modern nuclear projects, built for an era when the stakes and the scale are higher than ever.”
The facility reflects a broader recognition within the insurance industry that modern project scales are testing conventional coverage limits.
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This development comes as Markel Group reported an operating loss of $273m in the first quarter of 2026, driven by equity portfolio weakness despite operating revenues holding steady at $3.55bn.
