The evening, held at London’s Lancaster Hotel, was a great success, from the opening entertainment to the hosting by Romesh Ranganathan and the awards ceremony itself. The highlight of the event for us though was our win with Guy Carpenter for our joint initiative this year.
Julian Enoizi, CEO, said:
“I am delighted that Insurance Day has recognised the efforts of the Pool Re and Guy Carpenter teams with the award for Transaction of the Year. When we began the process to purchase reinsurance in the private market for the first time in Pool Re’s history, there was a widely-held view that it could not be done and that, even if quality capacity could be found, it would be unsustainable from a price perspective. This evening’s accolade would not have been possible without the remarkable efforts of the Guy Carpenter team. Their belief in this initiative combined with their expertise was key to the success of this landmark placement.
The Pool Re programme provides £1.8bn of cover, making it not only the largest terrorism programme ever purchased by a national pool but also the only one to secure all its capacity on a three-year basis. In today’s deeply uncertain geopolitical environment where the threat to the UK is arguably greater than at any point in our recent history, this placement reinforces our resilience. It also demonstrates our capacity for innovation. It has brought new premium into the market, offers a mechanism for the re-engagement of the global market in UK terrorism and provides a template by which terrorism pools across the globe can engage and develop mutually beneficial partnerships with the commercial market.”