Reinsurance News
Hiscox
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
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