Ep198 Tom Clementi Pool Re: Taking risk off the State

The Voice of Insurance

Today’s guest is Tom Clementi, CEO of UK Government-backed terrorism reinsurer, Pool Re.

Now over thirty years old, Pool Re has been through a lot of recent changes that have reflected its growing maturity.

It has been classified as a Central Government Organisation by the Office for National Statistics and the UK Cabinet Office designated it as an Arm’s Length Body of the UK Treasury.

To add to that formalisation, which reflects its public role and unlimited State guarantee, Pool Re is moving from its tariff-led facultative reinsurance structure to a more sophisticated treaty relationship with its members.

Add to this the heightened sense of geopolitical risk in the world in 2024 and new UK legislation around safeguarding against the terror threat and Tom and I have lot to talk about.

This is a really lively discussion that covers the state of the global terrorism market, a frank assessment of the UK’s terror threat and Pool Re’s continued role in making and growing a private market well-funded enough to relieve pressure on the strained public purse.

Tom’s a great guest and his insights will give anyone wondering how successful public-private partnerships can be fostered a lot of excellent pointers.
NOTES:
We mentioned the UK Cyber Monitoring Centre. The recent Episode with James Burns has all the details:
https://thevoiceofinsurance.podbean.com/e/ep192-james-burns-cfc-classifying-cyber/

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