News
Tokio Marine GX and Optio’s Northcourt launch the market’s first nuclear fusion insurance facility
29 October, 2025
By : TMGX Insurance
PRESS RELEASE
Tokio Marine GX and Optio’s Northcourt launch the market’s first nuclear fusion insurance facility
- NC Fusion facility addresses insurance gap as nuclear fusion development accelerates
London, 29 October, 2025 - Tokio Marine GX (TMGX) and specialist MGA Northcourt, part of the Optio Group, today announced the launch of NC Fusion, the Lloyd’s market’s first insurance facility for nuclear fusion technology. This will guarantee insurance frameworks and capacity are in place to support the development and, when available, the commercial rollout of nuclear fusion technology.
The facility addresses a gap in the insurance market. Traditional nuclear insurance products, designed for fission-based technology, include radiation exclusions and do not address fusion's different risk profile. Unlike fission, fusion produces no long-lived radioactive waste, cannot experience meltdown, and presents different risk characteristics requiring bespoke insurance solutions.
Following recent UK-US government collaboration announcements and accelerating private sector investment, fusion technology is advancing toward commercial deployment faster than many anticipated. The launch of NC Fusion will ensure that insurance coverage does not become a bottleneck constraining this potentially transformative technology.
NC Fusion is designed to support fusion projects throughout their evolution, from research and development through to commercial deployment. While current fusion projects remain largely in development phases, NC Fusion's capacity and coverage are designed to scale as technology matures and projects progress toward commercial viability. The facility's structure ensures insurance support adapts alongside technological advancement, from supporting today's research and testing through to commercial scale fusion energy generation.
Ben Kinder, Chief Underwriting Officer of Tokio Marine GX, said: "The insurance market has historically responded to innovation after it arrives. With nuclear fusion, we're taking a different approach, positioning ourselves ahead of commercial deployment to ensure insurance coverage doesn't become an obstacle when this technology is ready to scale. By partnering with Northcourt, we're combining our financial strength and energy expertise with specialist nuclear underwriting knowledge to create new insurance frameworks that address fusion's unique risks. This is exactly what TMGX was created to do: remove barriers to innovation, reduce market volatility, and enable the energy transition at every stage of development."
Gary Head, Chief Underwriting Officer, Optio Group, said: “Optio is proud to partner with TMGX in support of Northcourt’s pioneering work and will continue to broaden the facility’s product suite as fusion technology advances. This affirms Northcourt’s standing as a global leader in both fission and fusion energy insurance and further enhances its position at the forefront of breakthrough clean-energy risk solutions.”
-ENDS-
About Tokio Marine GX
Founded upon GCube's* decades of experience in renewable energy underwriting and claims, and with expertise drawn from across Tokio Marine's global operations, Tokio Marine GX provides a single point of access to a suite of products and services, for partners and clients committed to more sustainable practices. Tokio Marine GX is part of Tokio Marine Group. Tokio Marine Group is one of the world's largest global insurance and risk players with a market capitalization of approx. $81 billion as of June 30, 2025, a network encompassing Japan and 46 countries and regions worldwide, and over 43,000 employees. Tokio Marine Group has the capabilities to drive genuine positive change through a business model grounded in a sense of purpose and social responsibility, built on 145 years of history and an enduring culture that fosters innovation and expertise.
Composed of a diverse range of insurance and solutions businesses across the world, that bring a depth and breadth of capabilities to address and mitigate the ever-evolving risks we face, we provide our clients and communities with the security they need to move forward, while working to create more resilient societies and a better tomorrow.
For further information:
TMGX Media enquiries:
Brian Norris, Cognito
* GCube Insurance Services, Inc (operating as the underwriter for the TMGX group) is based in Santa Ana, CA. License number in CA is 0B86549. The NPN number is 2337817.
About Northcourt
Northcourt Limited is an international insurance and re-insurance Lloyd's Managing General Agent established for the purpose of providing insurance solutions to the nuclear industry sector worldwide. It is run by highly experienced nuclear insurance personnel and its mission is to bring additional capacity to the market, provide choice of insurer and spread of risks, enabling insureds to have more flexibility in their programme design. Northcourt is part of the Optio Group, a leading independent specialty MGA.
Optio media enquiries:
Haggie Partners
Peter Rigby, Richard Adams, Bec Seaton, Candela Farroni
Tel: +44 (0) 20 7562 4444