Baltic PCC Limited

Jonathan Gray, Chief Underwriting Officer at Pool Re, the UK’s leading terrorism reinsurer, has emphasised that while its catastrophe bond activity is smaller than the traditional retrocession programme, it remains ‘absolutely central’ to the firm’s risk protection framework.

In the latest annual report from Pool Re, the UK government-backed mutual terrorism reinsurance facility, its leadership explained how the third successful sponsorship of a terror catastrophe bond this year helps to distance the taxpayer from potential losses, while placing risk back into the private markets.

Pool Re’s Chief Executive Officer (CEO) Tom Clementi said the company is pleased to see a record number of global institutional investors participating in the successful placement of the organisation’s third terrorism catastrophe bond, the £100 million Baltic PCC Limited (Series 2025-1) issuance.

Pool Re, the UK government-backed mutual terrorism reinsurance facility, has now successfully secured its targeted UK £100 million of retrocessional protection from its third terrorism catastrophe bond, as the new Baltic PCC Limited (Series 2025-1)  issuance has now been priced for the reinsurer.

Pool Re, the UK government-backed mutual terrorism reinsurance facility, continues to target UK £100 million in retrocessional protection from its third terrorism catastrophe bond, but we’re told the price guidance for the new Baltic PCC Limited (Series 2025-1)  issuance has now been updated towards the upper-end.

Pool Re, the UK government-backed mutual terrorism reinsurance facility, has returned to the catastrophe bond market as anticipated, seeking UK £100 million or more in protection from a second renewal of its landmark terror catastrophe bond, with a Baltic PCC Limited (Series 2025-1)  issuance.

Pool Re, the UK government backed mutual terrorism reinsurer, appears to be set to return to the catastrophe bond market, announcing this morning that it has signed up Aon Securities and Howden Capital Markets & Advisory as its insurance-linked securities (ILS) advisors.

This year, Pool Re, the UK government backed mutual terrorism reinsurer, has reset its £100 million Baltic PCC Limited (Series 2022-1) terrorism catastrophe bond at a higher attachment point which has allowed it to maintain the interest spread at roughly the same level it was at issuance of the notes.

The United States Department of Treasury’s Federal Insurance Office (FIO) is seeking industry input and feedback on how available reinsurance and retrocession support from the capital markets may be for terrorism related risks.

Pool Re, the UK government backed mutual terrorism reinsurer, saw significant interest and appetite from the capital markets for the issuance of its £100 million (USD 131m) Baltic PCC Limited (Series 2022-1) terror catastrophe bond, leading to an increase in the number of investors compared to its 2019 placement.