Reinsurance News


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

Hiscox reports ‘strong growth’ in premiums in Q1 2022

5th May 2022

Hiscox is reporting ‘strong growth’ in its group gross written premiums for Q1 2022, saying that they rose by 10.3% to reach $1,386.3m. Citing its latest release, the firm said that it had seen ‘excellent growth’ in its reinsurance and ILS business, with gross premiums written up 45.8% to $421m. However, ... Read the full article

Jefferies calculates aviation war losses could hit $1.5bn

29th March 2022

Jefferies has calculated that aviation war losses due to the Russia-Ukraine conflict could reach $1.5bn for the market. A new note from the financial services company points to recent pronouncements from the CEO of Lloyd’s of London that estimated insured losses were to be between 15% and 20% of asset values. ... Read the full article

Hiscox returns to profit in 2021, produces strongest underwriting result in five years

2nd March 2022

Insurer and reinsurer Hiscox has reported profit of $190.8 million for 2021 against a loss of $268.5 million in the prior year, as the company produced its strongest underwriting result in five years. Despite elevated catastrophe activity, Hiscox has reported an underwriting gain of $215.6 million for 2021, compared with a ... Read the full article

Gallagher Re names new executive vice president in North America

24th February 2022

Gallagher Re has hired Megan McConnell to be its new executive vice president in North America. McConnell will begin her new role in Boulder, Colorado at the beginning of March. She will be joining from Hiscox, where she was CUO. Jim Bradshaw, CEO of North America, Gallagher Re, said: “We are ... Read the full article

Hiscox promotes Mike Williams to Managing Director, Guernsey

22nd February 2022

Specialist insurer Hiscox has appointed Mike Williams to the role of Managing Director, Hiscox Guernsey, succeeding Steve Camm who will continue as a Non Executive Director. Williams who is currently the company’s Divisional Director of Crisis Management, will be now be based in Guernsey. He currently leads an existing team of underwriting ... Read the full article

Hiscox names Jon Dye as CEO, UK

17th February 2022

Specialist global insurer and reinsurer, Hiscox, has appointed Jon Dye as its new UK Chief Executive Officer (CEO), where he will be responsible for leading the firm's flagship retail business in the region. Dye has held a number of senior roles within the industry, most recently as CEO of Allianz UK ... Read the full article

Hiscox names Alannah Paul as VP, Cyber and Technology Product Head

3rd February 2022

Specialist insurer Hiscox has appointed Alannah Paul as Vice President, Cyber and Technology Product Head, in the US, where she will be based in Los Angeles, California, and report to Doug Karpp, Senior Vice President, Head of Specialty Risks in the US. In her new role, Paul will focus on continuously ... Read the full article

Berenberg positive on London market in 2022

25th January 2022

Berenberg says that it remains positive about the London market, despite an elevated risk environment. Citing the risk factors of property reinsurance from climate change and claims inflation, casualty arising from ongoing social inflation, and cyber due to the increase in ransomware attacks, the bank said it remained positive despite investor ... Read the full article

BoA predicts strong numbers for European reinsurers

24th January 2022

Bank of America (BoA) has said that reinsurers in Europe should post strong last-quarter numbers for 2021, saying that figures for that period may be higher than expected. The bank said it believes that a strong Q4 2021 will contrast well with the same period of the year before, which was ... Read the full article

Hiscox Re & ILS names MS Amlin’s Matthew Wilken as CUO

6th January 2022

Specialist re/insurer Hiscox has announced the appointment of Matthew Wilken, previously of MS Amlin, as the new Chief Underwriting Officer (CUO) for Hiscox Re & ILS, effective January 10th, 2022. Based in Bermuda, Wilken is set to become a member of the Hiscox Re & ILS Executive team and will report ... Read the full article

Paul Cooper returns to Hiscox as Group CFO

21st December 2021

Specialist insurer and reinsurer Hiscox has announced the appointment of Paul Cooper as its new Group Chief Financial Officer (CFO), subject to regulatory approval. Currently, Cooper serves as Interim CFO at M&G Plc, a FTSE 100 asset manager and life insurance company. In this role, he is responsible for the planning, ... Read the full article

Hiscox to expand RMS partnership

8th December 2021

Specialist global insurer Hiscox is working with RMS on extending and increasing use of the cat modeller's Location Intelligence API technology. The tech is designed to improve customer experience on a coverholder level, while also providing market-leading modelling data to enable high-resolution, location-level hazard, risk, and loss metrics. RMS Location Intelligence also ... Read the full article

Hiscox names Steven Pearsall as D&O Line Underwriter

29th November 2021

Specialist global insurer Hiscox has appointed Steven Pearsall as D&O Line Underwriter within its London Market business. Pearsall brings over 20 years’ experience in the insurance market including underwriting roles for AIG and, most recently, The Hartford where he was Head of Financial Lines within their London Market division. As such, he ... Read the full article

Hiscox adds Donna DeMaio as Non-Exec Director

23rd November 2021

Specialist insurer Hiscox has announced the appointment of Donna DeMaio as Independent Non Executive Director, subject to regulatory approval. DeMaio will take over as chair of the Hiscox Audit Committee, succeeding outgoing chair Caroline Foulger who is set to retire at the Annual General Meeting in 2022 after a nine-year term ... Read the full article