Reinsurance News
Hiscox
Hippo’s First Connect Insurance hits 100-carrier milestone
27th March 2024
Home insurance firm Hippo's First Connect Insurance Services, a digital platform for independent agents to provide access to top carriers, has strategically partnered with Hiscox USA, and subsequently hit the 100-carrier and MGA milestone. Hiscox USA provides same-day coverage for small businesses with $5 million or less in annual revenue, it ... Read the full article
Hiscox appoints Leigh Hellrung as COO in the US
21st March 2024
Specialist global insurer Hiscox has appointed Leigh Hellrung as Chief Operating Officer in the US. Hellrung holds over 20 years of industry experience having most recently served in customer experience, service delivery and strategic operations leadership roles with Farmers Insurance and Zurich Financial Services. Before that, she reportedly led enterprise-wide technology transformations ... Read the full article
Coterie secures $27m in new capital investment from Hiscox and others
20th March 2024
Coterie Insurance, an insurtech managing general agent (MGA), has recently secured $27 million in new capital investment from Hiscox, alongside various existing investors. Expressing gratitude for this investment, David McFarland, CEO of Coterie, states, "We're incredibly grateful for the recognition and belief in how we're reimagining the small commercial insurance space ... Read the full article
Hiscox Re & ILS sees record profit of $221.4m in 2023, CoR drops to 69.8%
5th March 2024
Hiscox Re & ILS, the international reinsurance and insurance-linked securities (ILS) arm of the Hiscox Group, has revealed an undiscounted combined ratio of 69.8% for the full year 2023, and a record profit before tax of $221.4 million in "an active year for natural catastrophe losses". Hiscox Re & ILS also ... Read the full article
Hiscox appoints Raymond Oral Chief Technology Officer in the US
19th December 2023
Specialist insurer Hiscox has appointed Raymond Oral as Chief Technology Officer in the US. According to the firm, Oral will report to Kevin Kerridge, Chief Executive Officer of Hiscox USA, as well as Chris Loake, Chief Information Officer of Hiscox Group. Oral will serve on both the Hiscox US Leadership Team and ... Read the full article
Hiscox & Google Cloud create first AI-enhanced lead underwriting model for the London Market
12th December 2023
Specialist global insurer Hiscox has collaborated with Google Cloud to create the first AI-enhanced lead underwriting model in the London Market insurance industry. According to the announcement, the collaboration combines Hiscox London Market’s recently built technology platform - Hiscox AI Laboratories (Hailo), with Google Cloud’s generative AI technology to ... Read the full article
Hiscox Re & ILS continues to benefit from hard market in Q3’23
8th November 2023
Specialist insurer and reinsurer Hiscox has announced net insurance contract written premium (ICWP) within Hiscox Re & ILS grew 23.6% to $438.3 million in the third quarter of 2023, as the business seized the opportunities in the hard market. Hiscox highlighted that its Re & ILS segment growth was compared to ... Read the full article
Hiscox research reveals escalation in cyber attacks on businesses for fourth consecutive year
16th October 2023
A recent study conducted by Hiscox has unveiled a concerning trend of increasing cyber attacks on businesses, marking the fourth consecutive year of growth in such incidents. The report, titled the "Hiscox Cyber Readiness Report," draws from insights provided by over 5,000 organisations worldwide, representing a variety of sizes and industries. The ... Read the full article
Hiscox to sell DirectAsia business to Ignite Thailand Holdings Limited
27th September 2023
International specialist insurer Hiscox has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to Ignite Thailand Holdings Limited, the parent of the Roojai group of companies. DirectAsia was founded in Singapore in 2010 and launched in Thailand in 2013. Hiscox describes ... Read the full article
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