Fukushima Daiichi may slow nuclear

renaissance because of political issues Says JLT

22nd March 2011, London:

The JLT Global Nuclear Practice Group believe that whilst Fukushima Daiichi should not create a reduction in insurance capacity it is too early to know if this will result in increased pricing, it will be the political effects that will slow the Nuclear Renaissance.

Bernadette Hackett, Partner, JLT Global Nuclear Practice Group, says "Whilst potentially this situation may result in increased pricing for nuclear insurance, in reality the nature of the Japanese nuclear insurance pool means that none of the international insurance or reinsurance players should be impacted. However, it is unfortunate that the situation will impact on people's perceptions and could therefore have a political impact on the nuclear renaissance that JLT Global Nuclear Practice Group predicted last year".

The situation in Japan with Fukushima Daiichi is incredibly unusual, an earthquake followed by a Tsunami wave. Whilst insurers will now probably look more carefully at nuclear facilities in quake zones, overall JLT Global Nuclear Practice Group do not expect the available Global Nuclear Capacity of 2-3 Billion Euros to be significantly impacted by this event.

Bernadette Hackett continues, "Clearly risk factors have been highlighted by recent events and we would expect this to result in a slower nuclear renaissance across the globe. Nuclear operations present a complex multi-dimensional risk environment and have to be considered very carefully. The specialised nuclear insurance market operates through a country pool structure which is subject to a number of international conventions, This means that organisations operating in this area require the support and partnership of an experienced and knowledgeable risk partner to develop innovative insurance and risk solutions for their business operations".

Ian Maciulis, Nuclear Consultant from the JLT Global Nulear Practice Group is presenting at the Marketforce Annual European Nuclear Forum Today in Paris on Debunking Nuclear Insurance Myths.

--ENDS--

For further information contact:

Isabella Young
T: 0207 5583387
EMAIL

Editor's Notes:

About the JLT Global nuclear practice Group (GNPG)

To help those involved with the decommissioning, construction and operation of nuclear power facilities JLT Specialty Limited and Siaci Saint Honore, a company part owned by JLT and a member of the JLT International Network, haver formed JLT Global Nuclear Practice Group. This partnership brings together London's leading construction and private finance expertise and the leading nuclear insurance broker in Europe. JLT Global Nuclear Practice Group aims to use this expertise primarily to help sponsors, construction companies and financiers involved with projects in Middle East, Africa, Asia, Europe and the UK, pushing existing boundaries to develop innovative insurance and risk solutions.

www.jltgroup.com/nuclear-insurance

JLT Specialty Limited

JLT Specialty Limited is a specialist insurance broker and risk consultant providing market leading industry knowledge and expertise in specialist fields to some of the world's largest companies.
JLT Specialty Limited is a member of the Jardine Lloyd Thompson Group of companies, a leading risk management adviser, insurance and reinsurance broker and a major provider of employee benefits administration services and related consultancy advice.
Jardine Lloyd Thompson Group plc is quoted on the London Stock Exchange and employs over 6,200 people worldwide and through the JLT International Network provides services in more than 130 countries.