British terrorism reinsurer Pool Re has appointed Jonathan Gray as chief underwriting officer elect.
The appointment is subject to regulatory approval.
According to a release, Gray will join Pool Re in November and work alongside current CUO Steve Coates before the latter retires in early 2023. During this transition period, the business will focus on responding to the proposal of the current member consultation, which calls for Pool Re to move its scheme to a catastrophe treaty model.
Gray has over 30 years of insurance market experience, joining Pool Re from Axis Re. At Axis Re, he most recently served as president of global specialties. Through his many years at Axis Re and Novae (prior to its acquisition by Axis in 2017), he held roles of increasing importance, such as head of Axis’s business at Lloyd’s and head of property reinsurance.
“Jon’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,” said Pool Re CEO Tom Clementi. “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.”
Clementi in a statement also said that Pool Re extends its heartfelt thanks to Coates, who has been instrumental to the company’s success and development over the past decade.
“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,” commented Gray. “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.”
Gray added that Pool Re “has a vital role to play in helping insurers and assureds to navigate the changing risk landscape,” and that he looks forward to supporting that work.
Read more: Pool Re resilience chief joins Northcourt
Last week, it was reported that Pool Re chief resilience officer Ed Butler joined the Optio Group subsidiary Northcourt as a senior advisor. Butler will assist in raising Northcourt’s profile within government and the nuclear sector as a leader in nuclear insurance.
