Over the past 26 years, we have become a leading authority on how to finance, transfer and mitigate terrorism risk within the UK and global markets. The last five years in particular, however, have seen us escalate our strategy of supporting our members’ comfort with and understanding of terrorism risk.
During this period, beyond continuing to provide the promise of liquidity and solvency post-event, we have invested significantly in our in-house research and analysis, actuarial, risk management and distribution capabilities.
These capabilities have been designed to provide the industry with the tools and information it needs to retain, price, sell and manage terrorism risk to its maximum extent. Encouragingly, we have seen a corresponding increase in Members’ retentions, global and capital markets’ deployment of capital, and both industry and political engagement in bridging protection gaps such as cyber terrorism and NDBI.
Building on this success, at the end of 2019 we will be launching Pool Re Solutions (PReS). This in-house centre of excellence will streamline and amplify our emphasis since 2015 on risk awareness, risk modelling, and risk management services to effectively address the needs of modern insurers.
PReS will complete Pool Re’s migration from asset manager and provider of liquidity to modern catastrophe reinsurer, in order to most effectively address contemporary market failures in terrorism insurance.
Three pillars = One Solution
Pool Re Solutions comprises three core pillars
Providing intelligence and threat led qualitative and quantitative research into all forms of terrorist actors and methodologies which will directly inform modelling as well as reporting and data analysis for our stakeholders.
Pool Re Solutions will give crucial access to information on terrorism risk analytics, knowledge, expertise and thought leadership which will facilitate the delivery of terrorism risk solutions to (Re)insurers and the wider business community.
Devising and creating modelling solutions that can better help evaluate, quantify and price terrorism risk. By harnessing our risk awareness capabilities, privileged relationships and collaborations with government and academia, and relationships with global reinsurers, we can enhance modelling development, thereby delivering bespoke model solutions to solve different aspects of the terrorism peril utilising the latest tools and techniques.
We design and deliver a range of bespoke terrorism training courses designed to meet the needs of risk and insurance professionals. We also offer a range of risk mitigation tools, techniques, and expertise which can be cascaded through the insurance industry to help educate policyholders and advisers. The additional focus on terrorism risk management will not only ultimately reduce the underlying risk but also mitigate and reduce its effects should an event happen.