Markel and Willis launch first-of-its kind nuclear insurance facility

London, 19 May 2026 – Markel International, a division of Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), and leading broker, Willis, today announced the launch of a market-first, dedicated insurance facility to deliver comprehensive capacity for the nuclear sector.

The solution is designed to provide end-to-end capacity for nuclear facilities, a move that signals growing confidence in nuclear energy as a pillar of the global energy transition, as the sector's insurance needs grow markedly more complex.

The facility 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.

Recent industry analysis highlights how the global energy transition is driving renewed investment in nuclear energy, supported by a significant pipeline of new nuclear capacity. The World Nuclear Association reports that around 70 reactors are currently under construction globally, with more than 100 more planned.

This momentum is being reinforced by surging electricity demand from data centres and artificial intelligence. 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. Nuclear, including Small Modular Reactors (SMRs), is seen as one of the few technologies capable of providing the continuous baseload that intermittent renewables cannot.

That investment surge is creating both opportunity and tension for the insurance market. As projects grow larger and more capital-intensive, the limitations of traditional placement structures, often assembled from multiple markets, have become more apparent to buyers.

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.

The discussions reflect a shared interest in exploring how a more coordinated partnership model could combine underwriting expertise with responsive capacity, helping brokers and clients navigate the evolving needs of the nuclear sector.

Rohan Davies, Managing Director – London Market at Markel International, commented: “With renewed global momentum behind nuclear, driven by the transition to low-carbon energy and increasing demand from data centres and 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."

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.”

About Markel Insurance

We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.