Markel and Willis launch major facility to provide capacity for nuclear facilities

Markel International and broker Willis have announced the launch of a new insurance facility.

The proposition is designed to provide capacity for nuclear facilities as the sector’s insurance needs grow markedly more complex.

It will offer property damage and business interruption cover, spanning both nuclear critical and conventional exposures, across the full lifecycle of a project, from construction through to operation.

Capacity can be deployed on a quota share or excess of loss basis, giving clients flexibility in how they structure their programmes.

Rohan Davies, managing director for London market at Markel International, said: “With renewed global momentum behind nuclear, driven by the transition to low carbon energy and increasing demand from data centres and artificial intelligence (AI), the sector is entering a new phase of growth and demands a step change in how the insurance market responds.

”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.”

’Credible addition’

The facility comes after industry analysis from the World Nuclear Association in 2025 highlighted how the global energy transition is driving renewed investment in nuclear energy, supported by a significant pipeline of new nuclear capacity.

In its report, entitled Plans for New Reactors Worldwide, the association also also reports that around 70 reactors are currently under construction globally, with more than 100 more planned.

Meanwhile, the International Energy Agency projects that data centre power consumption will more than double by 2030, a forecast that has resulted in utilities and hyperscalers turning to firm, low carbon generation. 

”The new facility is a credible addition to the traditional insurance options and provides a viable solution for the increased capacity demands of our clients. The arrangement will complement, rather than displace, existing market structures,” a statement said.

Rupert Mackenzie, global head of natural resources at Willis, added: “Our clients need reliable, comprehensive coverage backed by strong market relationships.

”We’re 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.”