Reinsurance News
Hiscox
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
COP27: Covea, Hiscox & RSA commit to Flood Re’s Build Back Better scheme
14th November 2022
Andy Bord, Flood Re’s CEO, has announced that leading UK insurers, Covea, Hiscox and RSA, have joined the Build Back Better scheme. Launched by Flood Re back in April this year, the Build Back Better scheme is a joint initiative between the UK insurance industry and the UK Government to ... Read the full article
Hiscox Re & ILS falls to loss on Ian, but group sees ‘exciting opportunity’ in reinsurance
2nd November 2022
Specialist insurer Hiscox has announced gross premiums written (GPW) growth of 6.3% to $3.68 billion for the first nine months of 2022 supported by impressive growth within its Hiscox Re & ILS division. Although, this part of the business suffered net losses of $90 million in the period as a ... Read the full article
Hiscox promotes Steven Wilkins to new role
27th September 2022
Hiscox USA, part of the global insurer and reinsurer, has appointed Steven Wilkins to be its new senior vice president and head of casualty. Wilkins made the announcement on LinkedIn. His profile indicates that he has been with the firm since 2013, working in a series of roles. In his new role, ... Read the full article
“European reinsurers underperforming market so far this year” – Goldman Sachs
25th August 2022
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022. The firm said that this was because of higher inflation, higher weather losses, potential Russia/Ukraine losses, and COVID losses. It wrote: “However, we have seen some of these issues and ... Read the full article
Premia enters LPT agreement with Hiscox
17th August 2022
Premia Syndicate 1884 has entered into a loss portfolio transfer (LPT) agreement with Hiscox Syndicate 33. A statement from the firm says that the subject portfolio consists of a diverse mix of business underwritten by Syndicate 33 during Years of Account 1993 to 2018. The transaction is retroactively effective to January ... Read the full article
Hiscox reports solid underwriting performance, but investments drive H1 net loss
3rd August 2022
Global re/insurer Hiscox has fallen to a loss of $107.4 million in the first half of 2022, as a negative investment result more than offset an improved underwriting performance in the period. The loss for H1 2022 compares with profit of $133.4 million a year earlier, with Hiscox highlighting a strong ... Read the full article
Hiscox appoints Stéphane Flaquet as Group Chief Operating Officer
28th June 2022
Specialist global insurer and reinsurer, Hiscox has appointed Stéphane Flaquet as the Group’s Chief Operating Officer (COO) effective from 1st September 2022 and subject to regulatory consents. Flaquet has been with the company since 2010, and has served in a number of different senior roles. Initially he first joined Hiscox as COO ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Climate, victim impact and systemic risk flagged as key terror issues
23rd May 2022
Climate change, victim impact, and systemic risk were among key issues raised at the virtual conference ReCODE. The conference, hosted by the International Forum of Terrorism risk (Re)Insurance Pools (IFTRIP), looked at the key current issues in terrorism insurance. According to IFTRIP, the links between climate change and terrorism were a key ... Read the full article
Cyber attacks driving insolvency fears into businesses: Hiscox
18th May 2022
According to the latest Hiscox Cyber Readiness Report, 20% of businesses across eight countries said that a cyber attack almost rendered them insolvent, a 24% increase compared to last years report. The Hiscox Cyber Readiness Report, now in its sixth year, surveyed over 5,000 businesses in the US, UK, Ireland, Belgium, ... Read the full article
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