Pool Re CEO Julian Enoizi to step down in spring 2022
Pool Re, Britain’s leading terrorism reinsurer, today announced that CEO Julian Enoizi, after leading the mutual for eight years, has decided that he will leave the business in the spring of 2022.
Pool Re has undergone significant development under Enoizi’s leadership and has been at the forefront of leading change in global insurance and reinsurance in response to the evolving terrorism threat.
Notable achievements include more than doubling the buffer between the UK taxpayer and terrorism loss from £5 billion in 2013 to £12 billion today, achieved both through the growth of the fund and the implementation of the world’s largest terrorism reinsurance programme combined with an innovative ILS issuance. In addition, the company has invested in ground-breaking risk mitigation initiatives in partnership with government and the counter-terrorism police.
Other innovations include the introduction of risk-reflective pricing, the extension of cover to include cyber and non-damage business interruption, increased engagement with the academic sector to further the understanding of both terrorism risk and its management, and the establishment of the risk advisory division, Pool Re Solutions.
Internationally, Enoizi has spearheaded global collaboration through the foundation of the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP), enabling knowledge sharing and exchange of experience in areas such as mitigation and capacity building across national terrorism pools.
Pool Re has begun a process to identify Enoizi’s successor and an announcement regarding that appointment will be made in due course.
Angela Knight, chair designate of the Pool Re board, said: “We would like to thank Julian for his transformational contribution to Pool Re over the past eight years. He has overseen the development of a passive mechanism of risk transfer into a dynamic organisation that offers market leading research, analysis, thought leadership, risk management guidance and which as a result, is firmly established as a critical component of both the financial and governmental infrastructure. Julian has also been tireless in working to achieve a signed framework agreement governing Pool Re’s seamless transition to an Arm’s-Length Body of government. We wish him every success in his future endeavours.”
Julian Enoizi said: “It has been a privilege to lead Pool Re. I have enjoyed working with an extremely talented team and drawing on our various combined experiences to create a world leading national resilience entity in the terrorism sphere. I am pleased and proud to have been able to support a significant return of terrorism risk to the commercial insurance markets through increased retentions as well as through the reinsurance programme. Pool Re is now a business well equipped to meet the challenges of the evolving terrorism threat as well as providing a template for responding to the emergence of other systemic risks.”
Authored by Pool Re
About Pool Re
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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