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Pool Reinsurance Co. Ltd., the U.K. government-guaranteed terrorism backstop, has appointed Geoffrey Riddell as a nonexecutive director.
Mr. Riddell, a 30-year insurance industry veteran, most recently retired in March from Zurich Insurance Group Ltd. as regional chairman for Asia Pacific, Middle East and Africa.
Pool Re, which is funded by levies on insurers underwriting property coverage in the United Kingdom, is undergoing a modernization program.
Among changes that will take effect in October, certain buyers will be able to receive discounts on their coverage.
The Turkish Catastrophe Insurance Pool has registered Bosphorus Ltd. as a special purpose reinsurance vehicle in Bermuda for launching its second catastrophe bond.