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HM Treasury implements new Retrocession Agreement with Pool Re for terrorism reinsurance

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Published on: 10 February 2025
Published by LNB News

LNB News 10/02/2025

Document Information

Issue Date: 10 February 2025

Published Date: 10 February 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

HM Treasury (HMT) and Pool Reinsurance Company Limited (Pool Re) have agreed a new Retrocession Agreement, effective from 1 April 2025, under the Reinsurance (Acts of Terrorism) Act 1993. The agreement is part of a broader framework to ensure that industry and commerce can continue to purchase insurance cover against the risk of loss due to terrorist attacks.

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Jurisdiction(s):
England, Northern Ireland, Scotland and Wales

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