Reinsurance News
Hiscox
Vast majority of portfolio is rate adequate, reflecting strong financial position: Hiscox CUO
9th August 2023
In a recent earnings call, Joanne Musselle, Group Chief Underwriting Officer (CUO) of international specialist insurer Hiscox, highlighted the company's satisfaction with the current state of their portfolio's rate adequacy. "Just as a reminder, we've been in a hardening rate market for now five years. We've seen substantial rate increases ... Read the full article
Hiscox Re & ILS segment continues to benefit from hard market in H1 results
9th August 2023
Hiscox Re & ILS net insurance contract written premium grew 17.9% in H1 2023 to $345.1 million, which the firm said was underpinned by strong double-digit growth in the North American natural catastrophe, retrocession and marine books. Hiscox highlighted that its Re & ILS segment continued to benefit from the hard ... Read the full article
FloodFlash partners with Hiscox to accelerate US growth ambitions
7th August 2023
Parametric flood insurance company FloodFlash has announced a new partnership with Hiscox to drive its US growth ambitions. "Hiscox is already an active participant in the US flood insurance market, and as a capacity provider for FloodFlash will support the market appetite for parametric as an efficient option for catastrophe covers," ... Read the full article
Hiscox appoints Chris Loake as Group Chief Information Officer
27th June 2023
Specialist global insurer Hiscox has appointed Chris Loake as the Group’s Chief Information Officer. In the new role, Hiscox suggests that Loake will drive the Group’s global technology strategy enabling its overall business ambition to "drive technical excellence and deliver superb service to customers." He will be based in London and report ... Read the full article
Hiscox partners with Ivalua to digitally transform Source-to-Pay processes
16th June 2023
International specialist insurer Hiscox has selected Ivalua, a provider of cloud-based Spend Management software, to digitise its global procurement operations with its Source-to-Pay (S2P) solution. Hiscox has over 1.5 million retail customers across the UK, Europe, Asia and the US. It offers a range of specialist insurance products in both commercial ... Read the full article
Hiscox names Jonathan Bloomer as Chair Designate
2nd June 2023
International specialist insurer Hiscox, has appointed Jonathan Bloomer as Chair designate, subject to regulatory approval. This decision comes as part of a succession plan, with Bloomer set to join the Board on June 1, 2023, and succeed Robert Childs, who will retire on July 1, 2023. Bloomer brings with him a wealth ... Read the full article
Hiscox hires Beth Boucher as Independent Non Executive Director
16th May 2023
International specialist insurer Hiscox, has appointed Beth Boucher as Independent Non Executive Director, subject to regulatory approval. Boucher brings over 25 years of industry experience towards the role. Throughout her career, she has led global teams and initiatives across multiple industries. During her time working at numerous firms, such as Fortium Partners, ... Read the full article
Hiscox makes key promotions within its Energy team
15th May 2023
Hiscox, a specialist global insurer has promoted Lorraine Mackey to the role of Line Underwriter – Oil and Gas, and Louis Cozon to the role of Line Underwriter - Power and Renewables. The company has confirmed that they will both lead Hiscox London Market’s energy offering together, which will also benefit ... Read the full article
Hiscox promotes Craig Martindale to Group Chief Actuary
10th May 2023
Specialist re/insurer Hiscox has promoted Craig Martindale to the role of Group Chief Actuary, subject to the relevant regulatory consents. Martindale has worked at Hiscox since 2009, holding a number of senior roles across the business during his almost 15 years with the firm. Since 2015, he has served as Group Head ... Read the full article
Hiscox sees attractive rates across all segments as written premiums hit $1.4bn
4th May 2023
Specialist insurer and reinsurer Hiscox has announced that net insurance contract written premiums (ICWP) increased by 7.4% to $1.42 billion in Q1 2023, as the carrier highlights an attractive rate environment across all business segments. In its Q1 2023 trading statement, Hiscox highlights a favourable rate environment, with particularly attractive rates ... Read the full article
Hiscox reveals ESG syndicate launch plan
8th March 2023
Specialist insurer and reinsurer Hiscox is taking steps to capitalise on global economies' increasing interest and investment in transition and green technologies with a new environmental, social and governance (ESG) syndicate, the company revealed today. The new discreet sub-syndicate will have a focus on ESG-positive risks and will be nested with ... Read the full article
Hiscox reports best underwriting result since 2015
8th March 2023
Insurer and reinsurer Hiscox has today announced underwriting profit of $269.5 million for 2022, its highest since 2015, despite the impacts of elevated large natural catastrophes and man-made losses. Year-on-year, the underwriting result across the group improved by around $54 million, as the combined ratio strengthened from 93.2% in 2021 to ... Read the full article
Hiscox partners with reinsurtech Supercede
1st February 2023
Specialist global insurer Hiscox has partnered with reinsurtech software specialist Supercede for all 2023 outwards reinsurance placements. According to the announcement, this partnership will drive operational efficiencies and simplify complex placements for broker partners. Supercede’s reinsurance tools will allow Hiscox to capture data and confirm order terms to their broking partners and ... Read the full article
Great American, Hiscox & Control Risks expand collaboration
12th December 2022
Great American Insurance Group will continue to write Kidnap & Ransom (K&R) business while maintaining its relationship with Hiscox USA as they announce an expanded collaboration, along with Control Risks, a global specialist risk consultancy. According to the announcement, over the next year, all K&R policies will be written on Great ... Read the full article
Industry returns driven by hard market: Goldman Sachs
23rd November 2022
A new note from Goldman Sachs says that attractive returns within the industry are being driven by a hard market. The firm said that reinsurers have historically been a low-beta and defensive sector that outperformed in terms of uncertainty. This has continued, it said, as the hard market pricing has started ... Read the full article
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