Global broker Marsh and its reinsurance arm Guy Carpenter have played a major part in launching Northcourt, a managing agent focusing on nuclear risk. The new business, which will add an estimated $200m to global nuclear capacity, is led by CEO Alan Rickett, previously senior vice-president at Marsh. Northcourt, with a $200m binding authority for nuclear property business, is regulated by the Malta Financial Services Authority and is licensed to underwrite nuclear business on a global basis. Lloyd' s insurer Amlin is the lead insurer for Northcourt, with 12 Lloyd's players on the panel. Amlin London head of property-casualty Duncan Dale said that Amlin was "pleased to have supported Northcourt in bringing a long-overdue new approach to the market". Marsh will provide accounting and administrative services in Malta, while Marsh's reinsurance arm Guy Carpenter will manage Northcourt's insurance market placements. Marsh International Nuclear Practice Leader Mark Popplewell said that there were more than 60 nuclear reactors currently being built globally, "with in excess of 400 in the pipeline". However, he noted that "due to the limitations of the existing nuclear insurance arrangements, clients have often in the past struggled to get competitive insurance protection" and that Northcourt offered "an exciting source of alternative capital". The new managing agent is looking to expand into nuclear liability and construction cover in the future.