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Hiscox

Hiscox selects IVANS Markets to tap independent agencies network

16th October 2019

Global specialist re/insurer Hiscox is set to expand its reach to independent agencies using IVANS Markets, which promises to provide access to a network of more than 32,000 agents. Leveraging the service from IVANS, a division of Applied Systems, Hiscox will market appetite details for its partner wholesalers, including Apogee, Braishfield ... Read the full article

Hiscox names Joanne Musselle Group Chief Underwriting Officer

5th September 2019

Global insurer and reinsurer Hiscox has appointed Joanne Musselle as its new Group Chief Underwriting Officer (CUO), following the retirement of Richard Watson. She will assume the role at the end of the year and will join the Hiscox Ltd Board as an Executive Director in February 2020, subject to regulatory ... Read the full article

Hiscox Re & ILS announces leadership reshuffle

1st August 2019

Global re/insurer Hiscox has announced two new appointments within its Hiscox Re & ILS division, following the recently announced appointment of Megan McConnell as CUO, Hiscox USA. With McConnell relocating to Manhattan, Andrew Dolphin has been named as her successor as Director of Underwriting - London, subject to board and ... Read the full article

Hiscox names Megan McConnell CUO in the US

1st August 2019

Global insurer and reinsurer Hiscox has announced the appointment of Megan McConnell as Chief Underwriting Officer (CUO) in the US, based in New York and reporting to Chief Executive Officer (CEO) of Hiscox USA, Steve Langan. McConnell most recently served as the Director of Underwriting for Hiscox Re & ILS, having ... Read the full article

Investments help Hiscox to profit, London Market, Hiscox Re & ILS challenged

29th July 2019

Global insurer and reinsurer Hiscox has reported that its H1 2019 profit before tax increased slightly to $168 million, despite the firm's group combined ratio weakening to 98.8% as loss deterioration from prior year events hit its London Market and Hiscox Re & ILS segments. At $168 million, Hiscox's profit increased ... Read the full article

Hiscox develops new coverage for ships seized by foreign governments

23rd July 2019

Hiscox, the specialist global insurer, has developed a new insurance product that provides coverage for ships seized by a foreign government. The product, called Malicious Vessel Seizure, will provide Loss of Hire costs and the services of Control Risks, a crisis management consultancy. The announcement follows the seizure of a British-flagged ... Read the full article

Andrew Hughes promoted to Managing Principal of Hiscox ILS

23rd July 2019

Global insurer and reinsurer Hiscox has announced the promotion of Andrew Hughes to Managing Principal of Hiscox ILS, subject to Department Immigration and Bermuda Regulatory Approval. Hughes has been with Hiscox ILS in Bermuda since 2015, serving as General Counsel and Chief Compliance Officer. Hiscox notes that during his time with the ... Read the full article

Hiscox remains confident in its reserving practices: CFO Hussain

19th July 2019

Global insurer and reinsurer Hiscox remains confident in its reserving philosophy and will continue to have positive reserve run-off at the half-way point of 2019, according to Chief Financial Officer (CFO) Aki Hussain. Hiscox announced last week in a trading statement that it had strengthened its reserves for Typhoon Jebi ... Read the full article

Hiscox’s hurricane Michael loss creep flowed to aggregate reinsurance in Q2

15th July 2019

Loss creep from 2018's hurricane Michael was largely passed on to the reinsurance providers or retrocessionaires backing Hiscox's aggregate protection in the second-quarter of the year, the company confirmed to us today. Hiscox revealed in a trading update on Friday that its catastrophe losses had continued to creep in the ... Read the full article

Hiscox strengthens Jebi & Michael reserves

12th July 2019

Global insurer and reinsurer Hiscox Ltd. has announced an expected impact of $40 million in the first-half of 2019 as a result of further strengthening its reserves for Typhoon Jebi and Hurricane Michael. The firm expects to record profit before tax of between $150 million and $170 million for the ... Read the full article

Hiscox CUO Richard Watson announces departure from role

27th June 2019

Richard Watson, the Chief Underwriting Officer (CUO) of global insurer and reinsurer Hiscox, has announced that he will retire from his role after 33 years. Watson is to step down from the Board of Hiscox Ltd on December 31st, 2019 and will continue to serve as an advisor to the firm, ... Read the full article

Hiscox releases free-to-use Cyber Exposure Calculator tool

18th June 2019

Global specialist insurer Hiscox has announced the launch of its Cyber Exposure Calculator, an online tool designed to help companies estimate the potential financial impact of a cyber attack. The calculator, which is free to use, provides a number of insights into the types of cyber attacks a business may face. Results ... Read the full article

20% increase in cyber security spending, finds Hiscox report

31st May 2019

Results from Hiscox’s 2019 Cyber Readiness report show cyber security spending across 5,400 organisations increased significantly from the previous year, with total expenditure reaching $7.9 billion. After adjusting for the increased size of the study group in this year’s report, the total spend represents a rise of just under 20% on ... Read the full article

Hiscox launches London market cyber product

30th May 2019

Global re/insurer Hiscox has announced the launch of CyberClear365, a new London Market cyber product. CyberClear365’s cover includes first-party incident costs such as regulatory response, bricking for disabled electronic devices and a reward fund. In the event of a claim, CyberClear365 offers assured mitigation coverage and a percentage excess discount if Hiscox ... Read the full article

Hiscox uncertain if mid-year rate increases will be adequate

7th May 2019

Global insurer and reinsurer Hiscox saw its gross written premiums increase by 0.6% in the first-quarter of 2019, as a decline in the reinsurance & insurance-linked securities (ILS) segment offset growth in the retail and London market segments. At the same time, the re/insurer is unconvinced mid-year rate increases will ... Read the full article

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