the story of pool re
We are the UK’s leading terrorism reinsurer. Trusted by more than 150 global insurers, we work in partnership with Government to serve 90% of the UK terrorism property insurance market, helping policyholders build resilience against terrorism risk in an evolving and increasingly complex threat landscape.
We are globally recognised as the leading experts in terrorism risk financing, and have been operating since 1993, following the withdrawal of terrorism cover by most insurers as a result of the Provisional IRA’s bombing campaign against financial targets and city centres during the period.
To date we have paid claims in excess of £1.25 billion (when adjusted for inflation) in relation to 17 terrorist events since our foundation. However, we have never called on the Government’s guarantee, demonstrating the effectiveness of our scheme to insulate the taxpayer from financial losses arising from acts of terrorism.
Pool Re today
We operate as a unique public-private partnership, with the benefit of an unlimited HM Treasury loan facility. We cover £2.2trillion of UK based assets including businesses of all sizes, from shopping centres and local traders to airports and power grids; across sectors of the economy such as real estate, retail, transport, construction and energy.
In response to the increasing complexities of terrorism risk, we developed Pool Re SOLUTIONS, a specialist terrorism risk management division created to provide Member insurers and their policyholders with a range of tools and information to better understand and mitigate the complex risk of terrorism.
Fund has been built up to meet potential claims
Paid out in claims, equivalent to £1.25bn adjusted for inflation
Of premiums paid to HMT, which can be drawn on if required
External reinsurance purchased by Pool Re from the global retrocession market’
Of liabilities insured by Pool Re
Unlimited HMT loan facility
Less than 10% SMEs have terrorism insurance
ILS bond issuance to support £100m of cover within external reinsurance
Our mission is to ensure that every business in Great Britain can access affordable and comprehensive terrorism insurance, fostering confidence and resilience in the British economy and insulating the taxpayer from the financial impacts of catastrophic terrorist attacks.
As a result, and in response to the increasing complexities of terrorism risk, we developed Pool Re SOLUTIONS – a specialist terrorism risk management division created to provide Member insurers and their policyholders with a range of tools and information to better understand and mitigate the complex risk of terrorism.
From international collaboration to innovations in insurance coverage, our range of partnerships and initiatives are at the heart of our multi-million pound commitment into counterterrorism research, development and risk mitigation activities.