Pool Re announces the appointment of two new board members
Authored by Pool Re
Claudio Gienal, CEO, AXA UK & Ireland and Alan Rubenstein, chairman of NHBC, joined the board on 11 March 2021. Both will contribute their extensive expertise in commercial insurance to Pool Re at a key time for the mutual as it navigates the outcomes of the ONS classification and the HM Treasury Review. AXA UK & Ireland is a member of Pool Re.
Alan Rubenstein will also serve as chair of the Investment Committee, upon Alan Brown’s retirement after more than 12 years’ service, following the conclusion of the company’s AGM in June.
Julian Enoizi, Pool Re chief executive, said:
“It gives me great pleasure to welcome Claudio and Alan to the Pool Re board. Their combined experience will be of huge benefit to us as we chart the future direction of Pool Re. Our board members are vital as part of stimulating further innovative thinking within the organisation and the industry as we continue to meet the challenges of the evolving terrorism threat together as well as the emergence of other systemic risks. I very much look forward to working with Claudio and Alan. I would also like to take this opportunity to thank Alan Brown for his many years of dedicated service to our board.”
Biography: Claudio Gienal, CEO, AXA UK & Ireland
Claudio became chief executive officer in September 2018, with responsibility for oversight of all AXA’s business activities in the UK and Ireland. He previously served as chief strategic officer for the AXA Group.
A Swiss national, he began his career as a management consultant, working for Accenture and later McKinsey & Company. He entered the insurance industry in 2008 by joining Zurich, where he held a number of senior positions including chief strategy officer for Zurich Group and CEO of the Zurich Life Insurance Company.
Claudio has a master’s degree in environmental engineering from the Swiss Federal Institute of Technology in Zurich and he speaks five languages. In addition to his role at AXA, he’ is vice chair of the board for the Swiss insurance start-up JAROWA and is a member of the Advisory Board for the AXA Research Fund. He also attends and is a member of the University of Oxford Vice-Chancellor’s Circle, as part of his work with the AXA Research Fund.
Biography: Alan Rubenstein, chairman of the board, NHBC
Alan, who is chair of the board of NHBC (the leading warranty and insurance provider for new homes in the UK), has over thirty years’ experience in pensions, insurance, asset management and investment banking. He was chief executive of the Pension Protection Fund between 2009 and 2018, protecting the pension entitlements of approximately 11 million members of Defined Benefit Schemes in the UK. Alan is also a non-executive director at esure Group plc and a trustee director and chair of the Investment Sub-committee for the British Coal Staff Superannuation Scheme.
Pool Re’s purpose is to enable the UK insurance market to offer terrorism cover to any commercial property that requires it. Central to this is the integration of Pool Re’s cover with the underlying property policy which ensures that there is no gap in the cover provided.
Pool Re was designed to insulate the taxpayer from potential financial losses arising from acts of terrorism. It has achieved this effectively, to date paying £635m in respect of 13 claims arising from certified terrorism events in the UK since our establishment. It has never called on the Government’s guarantee.
By providing foundational stability at a reinsurance level, Pool Re has created an environment for the commercial market to re-establish itself, following the market failure in 1992. This stability creates and sustains access, liquidity and confidence to generate the conditions for the private market to gradually write a growing portion of terrorism risk.
Helping UK businesses build resilience against terrorism risk is a priority for Pool Re who have developed SOLUTIONS an in-house centre of excellence created to support Members and policyholders better understand risk awareness, modelling, and management. They have also invested in a range of initiatives with Government security and intelligence agencies to provide tools such as an information sharing platform.
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