UK Launches Review Of Terrorism Reinsurer Pool Re

Law360, London (September 3, 2020, 11:22 AM BST) -- The government said Thursday it will carry out a major review of Pool Re, the state-backed terrorism reinsurer, to determine whether the rules that govern it are still fit for the purpose.

HM Treasury said that the latest review, which is carried out every five years, will focus on whether the mutual company is able to meet the requirements of being part of the government. Pool Re was classified by the Office for National Statistics in February as a central government body, a move that insurers said could have potentially serious implications.

The reinsurer is funded by an annual levy on insurers...

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