Media Release                                                                                     1 June 2020

IUA SUPPORTS PANDEMIC RE

 

The International Underwriting Association is supporting calls to devise a government-supported insurance solution for future pandemic events. The Pandemic Re group is working with UK state-backed terrorism mutual Pool Re in the wake of the Covid-19 crisis.

IUA chief executive Dave Matcham said: “We have been following closely discussions on a number of different possible approaches to providing cover for future losses from pandemic risks.

“I am pleased that Pandemic Re has been able to gain support for its work from many volunteers across our industry. Many IUA members are represented in the working groups that are being formed to examine different aspects of the issue and the association looks forward to providing additional support.

“This backing clearly demonstrates our sector’s commitment to helping mitigate risk and finding more effective recovery solutions.”

 

Ends

 

Contact:

Scott Farley                                                                                        
Director of Communications                                                                
International Underwriting Association                        
Tel: 0207 617 4449
Mobile: 07876 758 637                                                           
E-mail: scott.farley@iua.co.uk                                                 

 

Notes to Editors:

About the IUA

The International Underwriting Association of London (IUA) represents international and wholesale insurance and reinsurance companies operating in or through London. It exists to promote and enhance the business environment for its members.

The IUA’s London Company Market Statistics Report shows that overall premium income for the company market in 2018 was £28.437bn. Gross premium written in London totalled £19.559bn while a further £8.877bn was identified as written in other locations but overseen by London operations.