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US Treasury seeks input on capital market support for NBCR / cyber terror

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. It's the latest effort to gain input and feedback from insurance and reinsurance sector constituents as well as read the full article →

Pool Re ‘delighted’ as second cat bond receives strong investor support

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. As we read the full article →

Pool Re’s new cat bond upsized to UK £100m as it renews £2.5bn retro tower

UK government backed mutual terrorism reinsurance firm Pool Re has upsized its new Baltic PCC Limited (Series 2022-1) terror catastrophe bond to £100 million in size, helping it to increase the size of its retrocession tower to UK £2.5 billion at the renewal, up from £2.475 billion a year ago. Pool read the full article →

Pool Re targets £75m Baltic PCC terror catastrophe bond renewal

Pool Re, the UK government-supported mutual terrorism reinsurance provider, is back in the catastrophe bond market and seeking a UK £75 million (approx. US $102m) renewal of its landmark terror catastrophe bond, with a Baltic PCC Limited (Series 2022-1) cat bond issuance. Pool Re first ventured to the catastrophe bond market read the full article →

Pool Re upsizes retro to $3.5bn, but no new ILS capital included

UK government backed mutual terrorism reinsurance firm Pool Re has secured another increase in size to its retrocession program, lifting it to almost US $3.5 billion at the latest renewal, but still insurance-linked securities (ILS) capacity remains limited to its previous catastrophe bond. Pool Re placed its UK £2.475 billion (US read the full article →

Pool Re secures largest retro program yet in $3bn+ renewal

UK government backed mutual terrorism reinsurance firm Pool Re has secured its largest retrocession program yet, buying a UK £2.4 billion (US $3 billion plus) aggregate excess of loss tower from private markets. The program was led by reinsurance giant Munich Re, while Hannover Re also provided a significant part of read the full article →

Terrorism pools showing increasing interest in cat bonds: Pool Re

Following its successful sponsorship of the first terrorism risk catastrophe bond earlier this year, Pool Re has been sharing its experience with other aggregators of terrorism insurance risk to help them understand the option to tap into capital markets appetite. Terrorism risk and its potential as an insurance-linked securities (ILS) diversifier read the full article →

Terror risk a “useful but complex diversifier for ILS funds” – IFTRIP

Terrorism insurance and reinsurance risks are seen by investors as a useful but complex diversification opportunity for their ILS funds, hot topics discussed at the annual IFTRIP conference suggested. The International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) annual conference was held in Brussels last week and insurance-linked securities (ILS) and read the full article →

U.S. Treasury continues exploring terror cat bonds for risk sharing

The United States Treasury continues to explore its options for terrorism risk sharing with private markets, with terrorism catastrophe bonds once again under discussion at committee level. With the Terrorism Risk Insurance Program, or TRIP, which was authorised under the Terrorism Risk Insurance Act (TRIA) of 2002, set to expire at read the full article →

Pool Re secures £40m of retro for non-damage business interruption

UK government backed mutual terrorism reinsurance firm Pool Re has successfully secured a £40 million (US $50m) layer of additional retrocession to cover it against non-damage business interruption resulting from terror attacks. Guy Carpenter was the reinsurance broker responsible for the placement, while insurer Liberty Specialty Markets took the lead market read the full article →