The firm’s outgoing chief underwriting officer is set to retire early 2023

Terrorism reinsurer Pool Re has today (17 October 2022) announced the appointment of Jonathan Gray as its new chief underwriting officer, subject to regulatory approval.

Gray will join the reinsurer in November and work alongside current chief underwriting officer, Steve Coates before the latter’s retirement in early 2023.

During this period Pool Re will focus on responding to the outcome of the current member consultation that proposes to move its scheme to a catastrophe treaty model.

Tom Clementi, Pool Re’s chief executive, said: “Gray’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.”

New treaty proposition

Gray has more than 30 years of experience in the insurance market.

He joins from Axis Re, where he most recently held the role of president of global specialties.

Over the course of his time at Axis and Novae, prior to its acquisition in October 2017, he held increasingly senior positions including head of Axis’ business at Lloyd’s and head of property reinsurance.

Gray said: “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.”

Meanwhile, Clementi said: “I would also like to offer my heartfelt thanks to 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.”