Pool Re unveils CUO elect
Pool Re has announced the appointment of Jonathan Gray as chief underwriting officer (CUO) elect. Gray will join Pool Re in November and work alongside current CUO Steve Coates before the latter’s retirement in early 2023. During this period of overlap, the business will focus on responding to the outcome of the current member consultation which proposes to move Pool Re’s scheme to a catastrophe treaty model.
Gray has more than 30 years’ experience in the insurance market and joins Pool Re from Axis Re, where he most recently held the role of president of Global Specialties. Over many years at Axis and Novae (prior to its acquisition), he held increasingly senior positions, including head of Axis’ business at Lloyd’s and head of Property Reinsurance. His assumption of the CUO role will be subject to regulatory approval.
Tom Clementi, CEO of Pool Re, said: “Jon’s passionate commitment to insurance and the benefits it offers society very much aligns with the purpose of Pool Re and our focus on increasing the UK’s resilience and returning terrorism risk to the private market. His proven technical skills and experience in identifying and cultivating leading talent will also be crucial in ensuring Pool Re’s continued success. We are delighted to be making this significant appointment.”
“I would also like to offer my heartfelt thanks to Steve Coates who has been instrumental in Pool Re’s success and development over the past decade. We all wish him an enjoyable and well-earned retirement.”
Gray added: “Pool Re has been on an exciting trajectory in recent years and I am pleased to take up this role and contribute to its future development. I am particularly looking forward to designing our new treaty proposition and ensuring that it meets members’ expectations while continuing to return meaningful risk to the private market. As an arm’s length government body with a public policy objective, Pool Re has a vital role to play in helping insurers and assureds to navigate the changing risk landscape, and through our underwriting strategy I look forward to supporting that work.”
Pool Re exists to correct market failure, protect the UK economy, and safeguard society and livelihoods from acts of terrorism. It offers property reinsurance cover for fire and explosion, CBRN, Damage by Remote Digital Trigger and NDBI. It offers a financial safety net for around £2.2 trillion of assets and businesses of all sizes, from shopping centres and local traders to airports and power grids, across sectors of the economy such as real estate, retail, transport, construction and energy.
