Reinsurance News
Hiscox
Nexus acquires marine business from Hiscox MGA
6th January 2021
Independent specialty Managing General Agent Nexus Group has acquired the marine business (HMM) from Hiscox MGA. The purchase was via an asset purchase into Millstream Underwriting, a Nexus Group company specialising in consumer insurance. HMM was originally established in 2012 and underwrites yachts and the marine trades industry. Hiscox will continue to provide underwriting ... Read the full article
Hiscox names Tom Shewry as CFO for UK business
15th December 2020
Specialist global insurer Hiscox has announced the appointment of Tom Shewry as Chief Financial Officer for its UK business and Hiscox Insurance Company Limited. Reporting to Hiscox UK’s CEO, Bob Thaker, Shewry has spent over 20 years in general insurance working in a variety of commercial roles. He joined Hiscox in 2018 ... Read the full article
Hiscox USA expands Ask Kodiak partnership
16th November 2020
API platform provider Ask Kodiak has expanded its partnership with Hiscox and will now support its direct small commercial product appetite and eligibility in the US. Kodiak's platform is designed to allow insurers to store, update, and share information with any distribution partner for maximum efficiency and quote-to-bind speed. By communicating the product ... Read the full article
Rate improvements help Hiscox to grow top line
2nd November 2020
Specialist re/insurer Hiscox has reported a 2% increase in gross written premiums over the first nine months of 2020, helped by strong rate improvements across both its primary and reinsurance business. GWP stood at $3,262.4 million for 9M 2020, compared with $3,212.6 million for the same period last year. This included 7% ... Read the full article
Louise Marling named COO of Hiscox UK
29th October 2020
Global insurer and reinsurer, Hiscox, has announced the appointment of Louise Marling as Chief Operating Officer (COO) for Hiscox UK. Marling initially joined Hiscox UK in December of 2019 as Interim Change Director, having previously served as COO at William Russell, a global health insurance provider. Since joining the firm, she has ... Read the full article
Hiscox adds Yana O’Sullivan as head of investor relations
27th October 2020
Specialist re/insurer Hiscox has announced the appointment of Yana O’Sullivan as Head of Investor Relations. O’Sullivan is a senior investor relations and strategy leader, with over 15 years’ experience. She started her IR career at Standard Chartered Bank before leaving for the investor relations team at Friends Life Group, now part of ... Read the full article
Hiscox Re & ILS names Kathleen Reardon as CEO
21st October 2020
Specialist insurer and reinsurer Hiscox has announced that Kathleen Reardon is to succeed Mike Krefta as Chief Executive Officer (CEO) of Hiscox Re & ILS, subject to regulatory approval. Reardon most recently served as the CEO of Hamilton Re, the reinsurance arm of Bermuda-based Hamilton Insurance Group. She spent her early ... Read the full article
Insurers estimate additional COVID-19 BI costs after UK High Court judgement
15th September 2020
Global re/insurers have responded to the UK's High Court ruling in favour of policyholders on the majority of key issues, providing estimates for additional COVID-19 business interruption (BI) claims. Earlier today, the UK court passed its judgement on the Financial Conduct Authority’s (FCA) BI insurance test case, ruling in favour ... Read the full article
Hiscox combines crisis related expertise into new division
7th September 2020
Global insurer and reinsurer Hiscox has announced the launch of a new Crisis Management unit within its London Market business, a move designed to bring together the firm's crisis related expertise to meet the evolving needs of clients. The new Crisis Management division will include kidnap and ransom (K&R), Security Incident ... Read the full article
FCA test case could have ramifications for reinsurance losses: Hiscox
3rd August 2020
Hiscox has stated that the outcome of The Financial Conduct Authority (FCA) test case may have an impact on the inwards reinsurance portfolio written by its reinsurance and ILS business. Some of Hiscox's clients are primary insurers operating in the UK market and may be impacted by the judgment. However, given the uncertainty ... Read the full article
Mike Krefta to leave Hiscox, insurance sector in 2021
3rd August 2020
Specialist insurer Hiscox has announced that Mike Krefta will be leaving the company in 2021 after nearly four years as CEO of Hiscox Re & ILS in Bermuda. Krefta is said to be returning to the UK and will be pursuing interests outside of the insurance sector. He departs after nearly 17 ... Read the full article
Hiscox falls to H1 loss, as Covid-19 reserves rise to $232m
3rd August 2020
Hiscox Group, the specialist insurance and reinsurance underwriter, has fallen to a $138.9 million loss for the first-half of 2020, as it lifted its Covid-19 reserves to $232 million across the group. Previously, Hiscox had estimated that it faced roughly $150 million in claims from the Covid-19 pandemic, but this ... Read the full article
Hiscox selects Praedicat for London Market casualty risk modelling
14th July 2020
Specialist global insurer Hiscox has licensed Praedicat's AI-driven liability cat risk modeling platforms CoMeta and Oortfolio for use within its London Market casualty business. Praedicat’s AI technology is designed to mine peer-reviewed published scientific literature to extract signals of emerging risk, map these risks to commercial activity, and quantify losses that ... Read the full article
Hiscox launches variable consortium for challenging general liability risks
3rd July 2020
Specialist insurer Hiscox has partnered with RKH Reinsurance Brokers on a new variable consortium with a maximum line of over $20 million. It will cover a wide range of general liability risks Hiscox considers 'hard to place' such as wildfire, trucking and construction. Hiscox says the variable structure allows Hiscox and its consortium ... Read the full article
Hiscox & Thimble partner on short-term liability insurance offering
17th June 2020
Global re/insurer Hiscox has announced a new partnership with Thimble designed to provide small businesses with short-term liability insurance, available by the hour, day or month. Thimble was established in 2016 by Jay Bregman and Eugene Hertz and has sold more than 100,000 policies to small businesses across the U.S. via ... Read the full article