Reinsurance News
Terrorism reinsurance
ARPC successfully renews $3.475bn terrorism retro program for 2022
9th February 2022
The Australian Reinsurance Pool Corporation (ARPC), which administers the country's terrorism insurance scheme, has renewed its $3.475 billion retrocession program for 2022 at the same price as the previous year. Combined with ARPC's net assets and the $10 billion Commonwealth guarantee, the renewal of the retro program provides scheme capacity of ... Read the full article
Markel Intl. names new war and terrorism underwriter
20th January 2022
Markel International, a subsidiary of the Markel Corporation, has appointed Matthew Brooke as a war and terrorism underwriter. The latest move forms part of the organisation’s growth plans to strengthen its current position in the war and terrorism market. He will report to Will Newman, senior underwriter for war and terrorism and ... Read the full article
Pool Re investing into research on systemic risks
18th January 2022
Pool Re will be one of the investors in a new research consortium aimed at protecting society from future systemic risks. The consortium, which will be led by the Cambridge Centre for Risk Studies, along with the University of Cambridge’s Judge Business School will "support the creation and extension of private-public ... Read the full article
WTW forms new Crisis Management unit
13th January 2022
WTW has formed a new Crisis Management unit with the merger of SCR and its Terror and Political Violence teams which will sit within its Financial Solutions Global Line of Business. The new unit will be led Jo Holliday, Managing Director of SCR, and deliver crisis management and contingency risk management ... Read the full article
Pool Re partnership to explore links between climate & terror
3rd November 2021
UK government-backed terrorism reinsurer Pool Re has partnered with global terrorism pools forum IFTRIP and the National Consortium for the Study of Terrorism and Responses to Terrorism (START) to explore the impact of climate change on terrorism. Together, the trio will produce a series of rapid reports underlining the impact that ... Read the full article
Occam acquires terror-focused MGA Beech Underwriting
11th October 2021
Occam Underwriting, the specialist lines focused Managing General Agency (MGA), has announced the acquisition of terrorism insurance MGA Beech Underwriting Agencies Ltd. The acquisition forms part of Occam’s strategy to diversify into additional lines of business with the continued support of Hudson Structured Capital Management Ltd., which does its re/insurance business ... Read the full article
Rokstone launches UK terrorism facility
6th October 2021
Rokstone, the international speciality re/insurance MGA and part of the Aventum Group, has announced the launch of a new terrorism facility in the UK. It follows the launch of a similar terrorism product in the US earlier this year, and will be made available to brokers through iSure, the group’s digital ... Read the full article
ARPC welcomes Terrorism Insurance Act review
6th July 2021
The Australian Reinsurance Pool Corporation (ARPC) has welcomed the new terms within the 2021 Triennial Review of the Terrorism Insurance Act 2003 (TI Act), which will be conducted by the Treasury. The review will asses whether or not there continues to be market failure in the private sector supply of terrorism ... Read the full article
Pool Re warns of post-lockdown terror risks
10th May 2021
British terrorism reinsurer, Pool Re has launched a new series of Sector Risk Reports which focuses on public transport and facilities. The initial report explains that the sector remains an attractive target for terrorists due to the high concentration of potential victims and the low complexity of planning required to cause ... Read the full article
ARPC renews $3.475bn retro reinsurance program for 2021
22nd February 2021
The Australian Reinsurance Pool Corporation (ARPC), Australia's terrorism insurance scheme, has announced the renewal of its retrocession reinsurance program for 2021, which includes the purchase of an additional $25 million layer at the bottom of the program. The renewal of the $3.475 billion retro reinsurance program, combined with ARPC's net assets ... Read the full article
Pen Underwriting launches terrorism cover for UK businesses
3rd February 2021
Pen Underwriting has launched a new standalone terrorism coverage for UK businesses and property owners. The terrorism product has been designed to be e-traded via Acturis or the Pen Portal with minimum referral triggers, although it can also be underwritten in a conventional manner. Extensions such as emergency accommodation costs and brand ... Read the full article
Liberty (LSM) launches terrorism coverage for SME sector in Germany
20th January 2021
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the launch of a new terrorism insurance coverage designed specifically for the SME sector in Germany. LSM entered the marketplace in 2018 as part of its strategy to extend its reach in Europe, and since then, business written ... Read the full article
Pool Re issues strategy paper coinciding with government review
1st October 2020
Pool Re, the UK's government-backed terrorism reinsurer, has released a forward-looking strategy paper that coincides with the government's latest five year review. The review aims to ensure the good functioning of the UK’s terrorism re/insurance market, proper protection of public interests, and Pool Re’s proposed strategic direction for the next ... Read the full article
UK Treasury launches review into Pool Re
3rd September 2020
The UK Treasury has announced the launch of its latest five-year review of Pool Re, the country’s government-backed terrorism reinsurer. The review will aim to ensure the good functioning of the UK’s terrorism re/insurance market, proper protection of public interests, and Pool Re’s proposed strategic direction for the next five years. It ... Read the full article
Pool Re classified by Office for National Statistics
28th February 2020
UK government-backed terrorism reinsurer Pool Re has announced that the Office for National Statistics (ONS) has completed a classification assessment of the mutual. The ONS has independently judged that Pool Re should be classified to the central government subsector. Pool Re noted that the classification is only a statistical matter and will ... Read the full article
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