Pool Re set to become part of the government

Houses of Parliament

Pool Re to operate as it currently does until 31 March 2021, while a range of options are considered.

The Office for National Statistics (ONS) has judged that Pool Re should be classified to the central government sector.

The terrorism reinsurer stated that the chief secretary to HM Treasury (HMT) has granted a derogation until 31 March 2021, which will enable Pool Re to operate as it currently does while HMT engages with Pool Re and its member insurers about a range of options.

According to Pool Re, the classification by the ONS does not have any direct implications in areas such as ownership

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Applied updates on commercial push

Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.

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