Reinsurance News
Hiscox
Enstar announces $520mn LPT for Hiscox
3rd June 2021
A wholly owned subsidiary of Enstar Group Limited has reinsured a diversified portfolio of legacy insurance underwritten by Hiscox Syndicate 3624. The Loss Portfolio Transfer (LPT) between Enstar's Syndicate 2008 and Hiscox includes the majority of Hiscox USA's surplus lines broker business. Through the arrangement, Hiscox has ceded net insurance reserves of ... Read the full article
Hiscox Group hires Erica Fletcher as Global Head of Diversity & Inclusion
27th May 2021
Hiscox Group, the specialist insurance and reinsurance underwriter, has appointed Erica Fletcher as its new Global Head of Diversity & Inclusion (D&I). Prior to joining Hiscox, Erica held a global D&I leadership role at Accenture and Microsoft’s joint venture, Avanade, where she designed strategies that improved diversity across the organisation. Her experience ... Read the full article
Hiscox reports 6.3% premium growth, no change to COVID losses
5th May 2021
Hiscox Group, the specialist insurance and reinsurance underwriter, has reported that its gross written premiums increased 6.3% to $1.26 billion during the first quarter of 2021, as strong growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offset planned reductions in the US broker channel. The ... Read the full article
Kevin Kerridge to succeed Steve Langan as Hiscox USA CEO
26th April 2021
International specialist insurer Hiscox has selected Kevin Kerridge to succeed Steve Langan as Chief Executive Officer of Hiscox USA, effective May 15. Kerridge, who will report to Hiscox’s CEO of Global Retail Ben Walter, joined Hiscox in 1996. In 2009 he relocated from London to New York to oversee the launch and ... Read the full article
Hiscox Re adds von Herberstein as Underwriting Partnerships Manager
19th April 2021
Specialist global re/insurer Hiscox has appointed Mary Margaret von Herberstein as Underwriting Partnerships Manager for its Hiscox Re & ILS division. In the role, von Herberstein will have a focus on further enhancing Hiscox Re & ILS' long-term partnerships with quota share reinsurance capacity providers, key brokers and clients. von Herberstein will ... Read the full article
Robert Dietrich named CEO of Hiscox Europe
9th April 2021
Specialist global insurer Hiscox has announced the appointment of Robert Dietrich as the new Chief Executive Officer (CEO) of its European arm, Hiscox Europe. Dietrich will take up the role immediately, succeeding Stephane Flaquet who was appointed to the new role of Chief Transformation Officer earlier this year. Dietrich has been with ... Read the full article
London Market insurers’ 2020 profits cancelled out by Covid losses, says Fitch
31st March 2021
A majority of London Market insurers are reported by Fitch Ratings to have fallen to either a loss or a very slight profit in 2020, as pandemic-related costs offset most underwriting and investment profits. Despite investment returns having recovered well in the second half of 2020, Fitch states that returns were ... Read the full article
Lara Frankovic to lead general liability team at Hiscox
30th March 2021
Specialist global insurer Hiscox has announced the appointment of Lara Frankovic as Line Underwriter – General Liability. Reporting to Hiscox London Market's Divisional Director for Casualty, Matthew Webb, Frankovic will lead a four-strong general liability underwriting team, focusing primarily on large US domiciled accounts. Frankovic joined Hiscox in March 2019 as Senior ... Read the full article
Hiscox promotes Isha Patel to Head of Direct Commercial, UK
11th March 2021
Specialist global insurer and reinsurer Hiscox has appointed Isha Patel as Head of Direct Commercial within Hiscox UK. Patel joined Hiscox in 2013 and has since overseen operations, finance and sales with roles in both the Hiscox Retail business units (Hiscox UK and DirectAsia) and Hiscox London Market. She was appointed regional ... Read the full article
Hiscox falls to 2020 loss on COVID-19 reserves
3rd March 2021
COVID-19 reserves of $475 million, net of reinsurance, has pushed insurer and reinsurer Hiscox to a loss of $268.5 million for full-year 2020, against income of more than $53 million in 2019. The majority of the company's pandemic claims relate to event cancellation business, with the second largest chunk concerning business ... Read the full article
Hiscox appoints Emily Taylor as Line Underwriter
24th February 2021
Global insurer Hiscox has appointed Emily Taylor as Line Underwriter, Marine and Energy Liability. Taylor joined Hiscox last year as an underwriter for marine and energy liability, having previously spent four years as Class Underwriter Energy Liability at AXA XL. She will report to Mike Southgate, Divisional Director for Marine, Energy and ... Read the full article
Hiscox hires Stéphane Flaquet as Chief Transformation Officer
5th February 2021
Specialist insurer Hiscox has appointed Stéphane Flaquet as its Chief Transformation Officer for the Group. In this new role Flaquet, who currently serves as CEO of Hiscox Europe, will be responsible for overseeing the delivery of the Group’s multi-year, cross-geography transformation programmes. He will work alongside business units as well as functions ... Read the full article
Hiscox adds Aimee Nolan to lead London Market cargo underwriting
3rd February 2021
Specialist insurer Hiscox has appointed Aimee Nolan to lead its London Market cargo team as Cargo Line Underwriter. Nolan will be based in London and reports to Mike Southgate, Divisional Director for Marine, Energy and Specialty. She will manage a cargo team of four underwriters with additional support in pricing and exposure ... Read the full article
Hiscox able to absorb COVID-19 BI losses: S&P
20th January 2021
Hiscox's capitalisation can absorb additional COVID-19 business interruption losses despite earnings impact, says global ratings agency S&P Global Ratings. S&P believes the Supreme Court's recent COVID-19 BI decision has further depressed Hiscox Group's earnings. The U.K.'s Financial Conduct Authority brought forward a test case to determine whether certain holders of business ... Read the full article
Industry split over Supreme Court BI ruling
19th January 2021
With the re/insurance industry still coming to terms with the UK Supreme Court's recent business interruption ruling, we polled our industry contacts and had 270 responses on whether or not they agreed with the outcome. Despite a slim majority siding with the decision to uphold the original High Court ruling, responses ... Read the full article