Pool Re, the terrorism reinsurer, has appointed Andrew Stark to the newly created place of head of underwriting, with instant impact.
At Pool Re, Stark will report on to chief underwriting officer Jonathan Grey.
His appointment is well timed as Pool Re transitions to an annual combination extra of loss (XOL) treaty scheme from its current facultative compulsory treaty in April 2025.
Stark brings twenty years of expertise within the insurance coverage business, notably as Lloyd’s underwriter. His most up-to-date function concerned conducting an professional peer evaluate for the worldwide property disaster extra of loss (cat XL) ebook at Chaucer.
He beforehand held the place of head of property at Chord Re and likewise labored with different Lloyd’s syndicates equivalent to Barbican, Vibe and Markel.
Grey mentioned: “We’re happy to welcome Andrew as the brand new head of underwriting. His in depth experience in international treaty underwriting might be invaluable in supporting the transformation efforts as we navigate the modifications to our reinsurance and proceed to assist the resilience of the UK financial system.”
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Stark added: “Pool Re performs a significant function in supporting the insurance coverage market to assist construct nationwide resilience towards terrorism and I’m delighted to hitch at such an thrilling time.
“Supported by extraordinarily gifted underwriters, I sit up for working with Jonathan to make sure the success of the scheme and the constructive affect the modifications could have on members, prospects and the terrorism insurance coverage market.”
Pool Re introduced in August that, following a aggressive tender course of, it has awarded an insurance-linked securities advisory contract to Aon Securities and Howden Capital Markets and Advisory.
