“Mutualisation is absolutely the way to handle systemic risks” says Julian Enoizi, the former CEO of Pool Re, a UK Government-backed mutual company providing terrorism reinsurance coverage that operates as a public-private partnership with the UK insurance industry. Using the example of terrorism, Julian shares how Pool Re was formed to address the ever evolving terrorism insurance protection gap, and how public-private partnerships, especially those based on the mutualisation of risk, have the potential to enable the insurance industry to manage various systemic risks and capture new opportunities.