NRI Annual Review 2023 - Flipbook - Page 22
MEMBERSHIP INSIGHT
Interview with Dan Noble, Head of Property – Convex and
Mark Wheeler, Co-Founder & Co-CEO – Mosaic
Former members of the NRI
board, Dan Noble – Head of
Property at Convex – and
Mark Wheeler – Co-Founder &
Co-CEO at Mosaic – have both
recently found themselves back
at NRI, having joined or set up
companies which have since
decided to become members
of the organisation. What
prompted those decisions?
“NRI is the pre-eminent risk assumer in
the nuclear space,” says Dan. “It has the
greatest amount of expertise, an instant
distribution to the worldwide pool of
business, and it is very influential in setting
the terms and conditions of the global
nuclear insurance sector.
“But, more than that, it is constantly
speaking to nuclear authorities and
government agencies about how
nuclear insurance is conducted. It is
heavily involved in risk engineering and
is a very professional organisation.”
Mark agrees, underlining NRI’s role as
a market leader, and the quality of its
knowledge and skills.
“We do not normally delegate underwriting
to another body,” he explains, “but we
are willing to make an exception in the
case of NRI because of its position as the
leading nuclear insurance entity in the UK
and globally, with the most established
franchise and the deepest relationships.
That counts for a lot.
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“Also, NRI offers unparalleled technical
underwriting expertise – and the technical
barriers to entry that go with that in a
highly specialised class – market-leading
risk management and survey capabilities,
and global reach.”
NRI’s long-standing involvement in the
nuclear insurance sector is something
that Dan and Mark both highlight when
discussing the organisation, and Dan cites
NRI’s track record several times during
our conversation.
Outlining the benefits of NRI’s decades of
market experience for Convex, he states:
“We are building a franchise from the
ground up and that business will take years
to develop. With NRI, you are taking a share
of a book of business that has been 50 or
60 years in the making. There is something
very attractive and valuable about that.
“Anyone can write premium volume.
What you are trying to do is generate
bottom-line profits, and that is what
NRI has a demonstrable track record of
delivering.”
NRI devotes a lot of
time to understanding
specific risk exposures
at different sites,
with different reactor
designs, in different
jurisdictions.
