Optio appoints leading nuclear risk expert Mark Tetley

inline-icon-clock 2 MIN READ 01/10/21
Acquisitions

Optio Group Announcements
01/10/21
Acquisitions
inline-icon-clock 2 MIN READ
Optio Group Announcements

Optio appoints leading nuclear risk expert Mark Tetley

London, 04 October 2021: Northcourt, the specialist nuclear MGA recently acquired by Optio Group, today announces the appointment of Mark Tetley as managing director, effective immediately. He will be based in London and report to Northcourt CEO Alan Rickett.

 

With extensive underwriting and broking experience, and having developed nuclear programmes for Russia, Ukraine, Romania, Slovakia, Czech Republic, Bulgaria and China, Tetley is recognised as a leading expert in the nuclear insurance field.

 

During his distinguished career he has served as managing director of the UK’s nuclear insurance pool, Nuclear Risk Insurers Ltd, assisting the government with changes to the statutory nuclear liability legislation required by amendments to the 2004 Paris Convention. Tetley has also been an expert representative of the international nuclear insurance industry at the Nuclear Law Committee of OECD’s Nuclear Energy Agency in Paris and is a lecturer at the International School of Nuclear Law. Recently, Tetley was engaged by the European Commission to lead a study on the insurance, private and financial markets in the field of nuclear third-party liability.

 

Rickett said:

“Mark understands not only the intricacies of the risks faced by nuclear facilities but has for many years led and been involved with the bodies that represent them at the highest international and governmental levels. His skills and knowledge complement that of the existing team extremely well, which will be invaluable in further developing Northcourt’s product and service proposition. I am absolutely delighted to welcome him to the team.”

 

Optio CEO Matthew Fosh added:

“With the minimum required liability limits for nuclear institutions set to rise dramatically in January 2022, Optio acquired Northcourt in April to not only capitalise on the growth potential this creates, but substantially change the dynamics of the nuclear insurance market. Mark’s joining represents a significant step toward realising that ambition as, quite simply, there are very few people in the world with specialist knowledge to rival his. As governments look to nuclear energy to help decarbonise their economies and meet ambitious net zero targets, Mark’s expertise combined with that of the existing team places Optio at the forefront in meeting the changing needs of the nuclear industry.”

 

About Optio Group 
Optio brings together the specialist expertise of Cove Programs, Ascent Underwriting, Bay Risk Services and Northcourt to create one of the largest independently owned specialty MGAs, managing in excess of $250 million GWP.  We are here to drive innovation in insurance to manage risk more effectively. By harnessing expertise and embracing technology, we strive to evolve with the needs of our business partners.  Using a combination of technology and market specialists, we create new products, services and solutions that bring efficiency to the market. With an open culture and unified approach, our people aim to form strong, long-term relationships with business partners so we can exceed expectations every time.