Reinsurance News
Hiscox
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
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