Reinsurance News


Hiscox reports decline in profit for 2019 amid elevated losses

2nd March 2020

Hiscox has announced a decline in profit to $53.1 million for the year ended December 31st 2019, while the firm's combined ratio weakened to 105.7% in the period on the back of elevated catastrophe losses. The insurer and reinsurer's profit fell from the $135.6 million posted a year earlier, and includes ... Read the full article

Hiscox comments on new cyber parametric transaction

21st January 2020

Specialist re/insurer Hiscox has released a statement commenting on its recent cyber parametric risk transfer deal, which was completed with help from Guy Carpenter and PCS. Announced earlier this month, the trade was transacted electronically on the AkinovA marketplace, with full regulatory oversight from the Bermuda Monetary Authority (BMA). The product ... Read the full article

Hiscox targets systemic cyber risk with CyberCube agreement

13th January 2020

Hiscox has entered into an agreement with cyber risk analytics firm, CyberCube, to leverage CyberCube’s Portfolio Management solution in order to produce better insight into potential systemic cyber risk. The agreement provides Hiscox with access to CyberCube’s technology, which will stress test the specialist re/insurer’s book of global commercial insurance business ... Read the full article

AkinovA completes cyber parametric trade with Hiscox & GC

9th January 2020

AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, has completed its first cyber parametric instrument trade. Hiscox developed, structured and provided capital for this transaction, with Guy Carpenter (GC) acting as broker and PCS as the reporting agent. The deal was carried out electronically with regulatory oversight from ... Read the full article

Hiscox partners with Concirrus to drive digitalisation

8th January 2020

Hiscox London Market, one of the oldest Lloyd's of London syndicates, has entered into a partnership with InsurTech Concirrus in an effort to deliver progressive, analytics-based underwriting. Under the terms of this new multi-year deal, Hiscox is to embed Concirrus' behaviour-based data analytics platform, Quest Marine Hull. An announcement on the deal ... Read the full article

James Millard appointed Hiscox CIO

6th January 2020

Specialist global insurer Hiscox has appointed James Millard as the group’s Chief Investment Officer. Millard most recently served at Aberdeen Standard Investments (ASI), where he worked as co-head of Multi-Manager Strategies. Previously, he was Chief Investment Officer at Skandia Investment Group until its merger with Old Mutual Asset Managers, where he became ... Read the full article

Hiscox set to drop out of FTSE 100

2nd December 2019

Specialist re/insurer Hiscox is set to drop from the FTSE 100 this week as ongoing claims arising from hurricane Dorian and typhoons Hagibis and Faxai continue to dent profitability. The insurer last month set aside $165 million to cover the aforementioned storms and have seen its share price fall 12% since ... Read the full article

Hiscox expands partnership with insurtech INSTANDA

28th November 2019

Specialist re/insurer Hiscox has expanded its partnership with INSTANDA, the cloud-based digital insurance platform. This enhanced partnership is designed to build critical distribution through the deployment of the INSTANDA platform and has been extended to manage both direct-to-consumer and broker products in four countries. This announcement follows the successful launch of Hiscox’s ... Read the full article

Optio enters political risk market, backed by Hiscox

20th November 2019

Optio Group, which is comprised of MGAs Ascent Underwriting, Cove Programs and broker Bay Risk Services, has announced the launch of a political political risk proposition for foreign direct investors (FDIs) in higher-risk markets. In addition to the standard political risk perils of expropriation, war and forced abandonment, Optio will provide ... Read the full article

Hiscox pulls out of casualty reinsurance

18th November 2019

Global specialist re/insurer Hiscox has announced its intention to cease writing casualty reinsurance business, due to “ongoing, challenging market conditions.” Concerns over issues such as pricing and reserving mean that the company no longer considers this business to be sustainable. Instead, its reinsurance division, Hiscox Re & ILS, will continue to focus ... Read the full article

Decision to support Lloyd’s Blueprint very easy. There is no choice: Robert Childs, Hiscox

8th November 2019

Hiscox Chairman and Deputy Chairman of Lloyd’s Robert Childs has explained how supporting the market's modernisation Blueprint was a given, considering its need to adapt. Childs, speaking yesterday in Bermuda at the PwC Insurance Summit, was asked about Lloyd's mission to become increasingly efficient and drive change through the insurance and ... Read the full article

Hiscox clarifies medium-term CR outlook for retail business

8th November 2019

Global specialist re/insurer Hiscox has released a statement clarifying the medium term outlook for the combined ratio of its primary retail insurance business, Hiscox Retail. Hiscox released its results for the first nine months of 2019 earlier this week, reporting growth across its entire business in 2019, with gross written ... Read the full article

Hiscox grows premiums 7% YTD, sees more rate firming ahead

4th November 2019

Hiscox Group has grown its overall business by more than 7% in 2019 so far, as the insurance and reinsurance company takes advantage of higher rates and looks forward to what it believes will be a third year of firming prices in the London market. Hiscox has experienced growth across its ... Read the full article

Hiscox illustrates threat of rising sea levels with FloodPlus AR app

24th October 2019

Specialist insurer Hiscox has developed a new app designed to illustrate the potential threat of global sea level rises. FloodPlus AR utilises Augmented Reality to demonstrate the impact a 2.4 meter sea level rise - an increase predicted by certain climate experts - would have on the Hudson County area of ... Read the full article

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

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