terrorism

With its fourth terrorism catastrophe bond sponsorship now settled, Pool Re CEO Tom Clementi has said that the £100 million Baltic PCC Limited (Series 2026-1) issuance signals the UK government backed mutual terrorism reinsurance firm’s deep commitment to think beyond the traditional.

Pool Re, the UK government backed mutual terrorism reinsurance firm, has now successfully secured the targeted UK £100 million of terrorism retrocession from its fourth catastrophe bond sponsorship, as the Baltic PCC Limited (Series 2026-1) issuance has now priced at the mid-point of guidance, Artemis can report.

We now have more information about Pool Re’s fourth terrorism catastrophe bond and have learned that the UK government backed mutual terrorism reinsurance firm is seeking £100 million of retrocession from the new Baltic PCC Limited (Series 2026-1) issuance.

Speaking at the International Forum of Terrorism Risk (Re)Insurance Pools in Sydney, Australia today, Guy Carpenter’s Asia Pacific CEO, Tony Gallagher, has explained the importance of retrocession markets in supporting provision of terrorism reinsurance, highlighting catastrophe bonds as an important and growing mechanism.

Pool Re, the UK government backed mutual terrorism reinsurance firm, is back in the catastrophe bond market to sponsor its fourth terrorism catastrophe bond, with a Baltic PCC Limited (Series 2026-1) issuance being offered to investors, we understand.

UK government backed mutual terrorism reinsurance firm Pool Re has completed the placement of its 2026 retrocession placement, securing £2.75 billion of aggregate excess of loss cover, which also includes new cover for non-damage business interruption (NDBI).

At the 29th Federation of Afro-Asian Insurers & Reinsurers (FAIR) General Assembly, held in Mumbai, India, industry leaders explored the future of risk management amid global uncertainties, including the growing challenge of political risks and how insurers and reinsurers can strengthen their ability to manage them effectively.

Our latest video features the third panel discussion of the day at Artemis London 2025, a session focused on the non-catastrophe opportunities in ILS, from our fourth catastrophe bond and insurance-linked securities (ILS) conference in the City of London, UK, held on September 2nd 2025.

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.