Pool Re announces appointment of Andrew Stark as Head of Underwriting

Pool Re announces appointment of Andrew Stark as Head of Underwriting

06 November 2024 | News

Pool Re, Britain’s leading terrorism reinsurer, today announces the appointment of Andrew Stark to the newly created role of head of underwriting, effective immediately. Stark has joined Pool Re ahead of the April 2025 change from its current facultative obligatory treaty to an annual aggregate XOL treaty scheme. He will report to chief underwriting officer, Jonathan Gray. Stark has most recently been conducting an expert peer review for the international property cat XL book at Chaucer. He has more than 20 years’ experience as a Lloyd’s underwriter and was...
The House of Commons initiates debate on Martyn’s Law

The House of Commons initiates debate on Martyn’s Law

15 October 2024 | Martyn's Law, News

On the 14th October 2024, the Terrorism (Protection of Premises) Bill was commended to the House of Commons, as part of the Second Reading of the draft legislation. The Secretary of State for the Home Department, Yvette Cooper, outlined that the intention of the bill is to introduce proportionate security steps for in-scope premises and events, as part of Government commitments to ensuring the ‘protection of life’ against terrorism in the UK. The introduction of the legislation into Parliament, also known as ‘Martyn’s Law’, follows 169 recommendations as part of...

Press Release: Pool Re appoints AON Securities and Howden Capital Markets as insurance linked securities advisers

22 August 2024 | News

Pool Re, Britain’s leading terrorism reinsurer, is pleased to announce that, following the completion of a competitive tender process, it has awarded Aon Securities Limited and Howden Capital Markets and Advisory an insurance linked securities advisory contract. Pool Re Chief Executive Officer, Tom Clementi, said: “Pool Re considers all forms of risk transfer capacity in its reinsurance programme and has appointed Aon and Howden to assist in the evaluation of potential ILS and similar solutions for the ultimate benefit of protecting UK taxpayers.” Pool Re has...

Press Release: Pool Re Members and HM Treasury give backing to modernised treaty model

26 March 2024 | News

Pool Re, Britain’s government-backed terrorism reinsurer, is pleased to announce that its members and HM Treasury have backed formal proposals from the Pool Re Board to transform the current Pool Re scheme. These approvals pave the way for a modernised aggregate catastrophe excess of loss treaty, which will ensure the scheme remains relevant and is fit for purpose in the digital age. Whilst there will be no changes to the fundamental rules of the scheme and the coverage provided, the proposal will allow members more flexibility to underwrite terrorism commercial...
Home Office launches public consultation on Martyn’s Law Standard Tier

Home Office launches public consultation on Martyn’s Law Standard Tier

06 February 2024 | Martyn's Law, News

The Home Office has announced the beginning of a public consultation on the scope and application of the Terrorism (Protection of Premises) Bill, known as Martyn’s Law, for Standard Tier properties. The Standard Tier is expected to apply to publicly accessible properties undertaking qualifying activities such as providing retail or leisure, with a capacity of 100-799. Following concerns raised by the Home Affairs Select Committee that the draft legislation may place an undue burden on smaller businesses and voluntary organisations, the proposals for Standard...

Pool Re renews Guy Carpenter reinsurance broking contract

17 October 2023 | News

London – Pool Re, Britain’s leading terrorism reinsurer, is pleased to announce that, following the completion of a competitive tender process, it has awarded Guy Carpenter a renewed reinsurance broking contract for three years, with an option to run to five.   Guy Carpenter will support Pool Re in returning risk and premium to the private sector thereby distancing UK taxpayers from the risks that Pool Re mutualises on their behalf. This comes as Pool Re seeks to modernise its treaty arrangements, which represents the most fundamental structural shift it...