Pool Re

UK government backed mutual terrorism reinsurance firm Pool Re has secured another increase in size to its retrocession program, lifting it by 15% from £2.4 billion to £2.75 billion at the latest renewal, while our sources suggest that a new vintage of the Baltic terrorism catastrophe bond is expected to add to this.

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.

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 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.

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.

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.

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.