#Hiscox Re ILS

[petnews2day]

Volume of cat bond issuance a testament to maturity of asset class: Prabis, Hiscox Re & ILS

New Post has been published on https://petn.ws/GMpYD

Volume of cat bond issuance a testament to maturity of asset class: Prabis, Hiscox Re & ILS

Investor and issuer interest in the catastrophe bond product remains strong amid healthy market dynamics, and the expectation is that 2024 will be another record year for the space, according to Vincent Prabis, Managing Principal, ILS at Hiscox Re & ILS.With H1 2024 cat bond issuance once again exceeding the $9 billion mark on the […]

See full article at https://petn.ws/GMpYD #CatsNews #CatBond, #CatBondFund, #CatastropheBond, #CatastropheBondFund, #HiscoxReILS, #ILSFunds, #InsuranceLinkedSecurities, #InsuranceLinkedInvestments, #ReinsuranceLinkedInvestment

[reveal-the-news]

Hiscox unveils latest GWP figures

Hiscox unveils latest GWP figures

Here are the GWP figures according to the Bermuda-headquartered, London Stock Exchange-listed insurance group: GWP 9M 2022 9M 2021 Hiscox Retail $1.77 billion $1.76 billion Hiscox London Market $845 million $900 million Hiscox Re & ILS $1.07 billion $807 million group $3.68 billion $3.46 billion Noting the rise in Group GWP, Hiscox said: “Rate momentum continues to be favorable…

[reinsurancecapital]

Hiscox grows ILS funds again, says market to recognise loss activity at renewals

Hiscox grows ILS funds again, says market to recognise loss activity at renewals

The Hiscox Re ILS funds grew their assets under management again in the third-quarter of 2018, a period when parent Hiscox continued to find opportunities for premium growth, although at a slower rate than the start of the year. (more…)

[cubicalone]

Hiscox taps new underwriting chief

Hiscox taps new underwriting chief

Specialist insurer Hiscox has announced the appointment of Matthew Wilken as chief underwriting officer for Hiscox Re & ILS, effective Monday. In his new role, Wilken will join the Hiscox Re & ILS executive team and will be responsible for executing the Hiscox Re & ILS underwriting strategy. He will be based in Bermuda and report to Kathleen Reardon, CEO of Hiscox Re & ILS. Prior to joining…

[orbemnews]

Hiscox shares Q1 financial results “The year has got off to a good start as rates continue to strengthen in all areas.” Those were the words of Hiscox Ltd group chief executive Bronek Masojada when the international specialist insurer released its trading statement for the first quarter of 2021. In its update this morning, the Bermuda-headquartered insurance group said gross written premium (GWP) rose 6.3% to $1.26 billion. Broken down, here’s how Hiscox performed in the period in terms of GWP: Business GWP for Q1 Hiscox Retail $663.9 million Hiscox London Market $303.9 million Hiscox Re & ILS $288.8 million   Of the three divisions, only Hiscox Re & ILS saw a decline from the same three-month span in 2020. This was attributed to the continued impact on the top line due to underwriting discipline and a reduction in third-party capital deployed. As for the retail operations, $196.6 million of the GWP came from Hiscox UK; $217.3 million, Hiscox Europe; $237.8 million, Hiscox USA; and $12.2 million, Hiscox Asia. All units posted higher numbers compared to the previous year. Masojada noted: “Our big-ticket businesses are benefitting from improved conditions and strong market positions. Our retail businesses continue to benefit from the shift to digital trading.” Meanwhile, according to Hiscox, it remains well capitalized on both a regulatory and ratings basis, with liquidity to pay claims and execute the group’s growth strategy in favorable market conditions. Source link Orbem News #Financial #Hiscox #Results #shares

[digitaltariq]

Krefta, CEO of Hiscox Re & ILS, to Exit Hiscox to Pursue Interests Outside of Insurance

Krefta, CEO of Hiscox Re & ILS, to Exit Hiscox to Pursue Interests Outside of Insurance

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Hiscox, the global specialist insurer, announced that Mike Krefta has decided to return to the UK in early 2021, having completed almost four years as CEO of Hiscox Re & ILS based in Bermuda. After 17 years with Hiscox, Krefta is looking to pursue interests outside of the insurance sector, and so will be leaving the business at the same time.

The search for his successor has commenced,…

[woodworkinghere1]

Social Inflationand COVID-19

Breaking News Today -

“Social inflation” refers to rising litigation prices and their affect on insurers’ declare payouts, loss ratios, and, finally, how a lot policyholders pay for protection. Whereas there’s no universally agreed-upon definition, ceaselessly talked about features of social inflation are rising awards from sympathetic juries and a development known as “litigation funding”, during which buyers pay plaintiffs to sue giant corporations – usually insurers – in return for a share within the settlement.

If the thought of social inflation was controversial earlier than the beginning of the coronavirus pandemic and subsequent financial lockdown, with some calling it a hoax, the topic should now be checked out by the extra lens of COVID-19’s long-term affect on legal responsibility questions, plaintiff expectations, and juror attitudes.

A.M. Finest stated early within the disaster that COVID-19 may produce an enormous enhance in social inflation. The explanation: expectations that companies would sue their insurers in an try to entry their enterprise interruption protection for losses regarding the coronavirus pandemic. Such lawsuits have been and proceed to be introduced.

Hiscox warns about rising Florida threat

Regardless of studies of charge will increase throughout the property disaster reinsurance sector on the mid-year renewals, a Hiscox government has warned that these enhancements may very well be offset by rising prices of threat in Florida, Reinsurance Information reported

After consecutive heavy loss years, some pretty vital loss creep and low rates of interest, coupled with the impacts of the COVID-19 pandemic, reinsurance charges reportedly trended in a optimistic method on the mid-year renewals, with rises of 20% – 30%, or extra in some situations. Whereas reinsurers will welcome charge will increase after a chronic comfortable market and subsequent pressured returns, the enhancements won’t be adequate to account for the elevated threat within the area’s market, in line with Ross Nottingham, Chair of North America at Hiscox Re and ILS, a division of worldwide insurer and reinsurer Hiscox.

“Why? As a result of these will increase haven’t but lined our personal view of the elevated threat within the Florida market, which means that the quantity of threat going into these programmes is loads larger than thought final yr,” Nottingham stated. “Which means you would possibly get a 30 % enhance on the programme, however for those who’ve measured the danger to the layer and established that it’s doubtlessly price 40 % extra in premium than it was final yr, the margin has in actual fact decreased.”

Nottingham stated the will increase being seen within the Florida market in 2020, whereas optimistic, are barely protecting the extra threat that’s on the market as evidenced by the substantial ranges of adversarial loss growth on prior yr occasions.

“And what’s persevering with to drive loss creep? The villain of the piece is social inflation – an element not but captured within the vendor cat fashions the trade benchmarks for measuring hurricane threat.”

Nottingham says that in Florida social inflation comes from a wide range of sources, starting from project of advantages (AOB) litigation to loss adjustment inflation.

AOB abuse has been mitigated considerably by current reform laws. However Nottingham says this reform is predicted to have a restricted affect on catastrophic claims being litigated and associated inflation of a declare as soon as legal professionals begin to become involved by different avenues.

“Regardless of insurers’ greatest efforts to alter their unique coverage kinds or to de-risk within the worst performing areas, it’s anticipated that AOB or equal abuse will proceed after the following large loss occasion,” says Nottingham. “Two years in the past, the market thought the bodily attributes of Irma have been akin to a one in 10-year occasion. The loss now – with the arrival of social inflation-fueled loss creep – appears extra like the price of a one in 20-year occasion, however there is no such thing as a new science to indicate the anticipated vulnerability or hazard has modified.”

One other essential component impacting reinsurance charges this yr is the continuing COVID-19 pandemic, which, Nottingham says hasn’t been factored into pricing for the months forward. Forecasters predict an above-average stage of hurricane exercise within the Atlantic in 2020, which, coupled with the unprecedented impacts of the virus outbreak, presents distinctive challenges for the trade.

How Court docket Lockdowns Might Flip Social Inflation Tide

COVID-19 could have an effect on some features of social inflation in a unique method, Claims Journal studies.

Talking at a current Advisen occasion – Social Inflation: Fact or Fiction – protection legal professional Ellen Greiper reported receiving greater than the same old variety of telephone calls from plaintiffs’ attorneys.

“I’ve had a flurry of telephone calls from plaintiffs who at the moment are prepared to take that [settlement] quantity I had provided earlier than,” stated Greiper, a companion with Lewis Brisbois, Brisgaard & Smith. With courts having been closed as a part of the final pandemic lockdown and now slowly reopening, “These plaintiffs are realizing that they don’t seem to be going to get a trial for at the least two years, it doesn’t matter what standing their case could also be and whether or not it’s discovery or previous that. So now they’re popping out of the woodwork.”

She added that the plaintiffs are “beginning to understand that after we all come again and the jurors don’t have jobs or they’ve been furloughed, they’re not getting $10 million on a cervical fusion. They could understand that’s a ridiculous sum of money.”

The post Social Inflationand COVID-19 appeared first on Breaking News Today.

source https://daily247.net/social-inflationand-covid-19/

[trustednewssites]

Hiscox Re & ILS turns to company veteran as COO

Hiscox Re & ILS turns to company veteran as COO

Trustednewssites.com – #insurance #business Hiscox Re & ILS turns to company veteran as COO [penci_related_posts title=”You Might Be Interested In” number=”4″ style=”list” align=”none” displayby=”cat” orderby=”random”]

Specialist insurer Hiscox has announced the promotion of Andrew Dolphin (pictured) to chief operating officer for Hiscox Re & ILS and his appointment to the Hiscox Re & ILS…

[doingbusiness-ca]

Hiscox Re & ILS announces new North America chair

New Post has been published on https://doingbusiness.ca/feed-items/hiscox-re-ils-announces-new-north-america-chair/

Hiscox Re & ILS announces new North America chair

[jamieclawhorn]

Why I’d consider buying this high-flying FTSE 250 growth stock alongside Aviva

Here at the Fool we continually bang on about the importance of diversification, with good reason. Given that we can never be sure what the future holds, there’s absolutely no sense in keeping portfolios overly concentrated in one specific sector or industry.

That said, there are some occasions when holding more than one stock in a similar line of business isn’t necessarily a bad idea. Here’s one example that springs to mind.

Back on track

In my opinion, FTSE 100 insurance giant Aviva (LSE: AV) remains an excellent pick for both growth and income investors.  That’s despite the fiasco that enveloped the company in March after declaring it might cancel its preference shares as part of the strategy to return capital to investors.

Having drawn heavy criticism, this idea was eventually kicked into touch. At the end of April, the £22bn-cap said it would pay out roughly £14m in compensation to holders who sold out after the company’s declaration. Offering a goodwill payment was the “right thing” to do, according to CEO Mark Wilson.

While not exactly great for its reputation, the recent bounce in the share price does suggest that investors have quickly forgiven Aviva. Moreover, the attractions of owning the stock continue to pile up.

With “significant excess capital” on its books, the company recently commenced a £600m share buyback. Since it still looks undervalued at just 9 times forecast earnings, this strikes me as a sound move, as does using the remainder of its £2bn cash pile to reduce “expensive” debt and invest in bolt-on acquisitions. A dividend yield of 5.6% based on today’s share price is also well over four times what you could get from the best instant access cash ISA.

It may be more exposed to global economic wobbles than some but, so long as you’re happy to play the long game, I think Aviva could easily be a core holding for many investors. 

Future FTSE 100 stock?

Those interested in adding more than one insurance company to their portfolio may also wish to take a look at Hiscox (LSE: HSX).

At £4.3bn, the Bermuda-based business is one of the biggest companies in the FTSE 250 index. Assuming recent performance continues, it could eventually push its way into the market’s top tier.

Over the three months to the end of March, gross written premiums grew a little over 20% to $1.16bn. Most of this came from its Retail division, where premiums rose 14% (in constant currency) to just under $573m. Having taken advantage of a “hardening market“, the London Market and Re & ILS divisions also climbed 8.7% to $219.8m and a very solid 42% to $363.1m, respectively.

Despite enduring a horrible 2017 in which profits were severely impacted by hurricanes in the US and earthquakes in Mexico, Hiscox’s share price has climbed 30% over the last 12 months, leaving it trading on 20 times predicted earnings. As well as being a whole lot more expensive to buy, the dividend yield — at just over 2% — is also significantly lower than that offered by Aviva.

With a PEG ratio of just 1, however, it could be argued that the stock is still reasonably priced given that earnings are now expected to recover. This, combined with its decent balance sheet/net cash position, makes me think there are a lot worse companies out there to invest in.

Capital Gains

In the meantime, one of our top investing analysts has put together a free report called “A Top Growth Share From The Motley Fool”, featuring a mid-cap firm enjoying strong growth that looks set to continue. To find out its name and why we like it for free and without any obligations, click here now!

More reading

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Paul Summers has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

[petnews2day]

Hiscox launched new sidecar, first cat bond fund and raised $140m for 2024

New Post has been published on https://petn.ws/jwb84

Hiscox launched new sidecar, first cat bond fund and raised $140m for 2024

Hiscox Group had a particularly busy end to the year in the insurance-linked securities (ILS) space, with a new collateralised reinsurance sidecar and its first catastrophe bond fund launched, while its Hiscox ILS fund management unit also raised an additional $140 million of new capital for the January renewals and doubled its fee income.Around the […]

See full article at https://petn.ws/jwb84 #CatsNews #CatBond, #CatBondFund, #CatastropheBond, #CatastropheBondFund, #CollateralizedReinsurance, #Hiscox, #HiscoxReILS, #ILSFunds, #InsuranceLinkedSecurities, #InsuranceLinkedInvestments, #Reinsurance, #ReinsuranceLinkedInvestment, #Sidecar, #ThirdPartyReinsuranceCapital

[hillcountrytimes]

The Asia Pacific Fund, Inc. (APB) Is At $14.78 Formed Wedge; HISCOX LTD ORD (HCXLF) Shorts Lowered By 43.29%

HISCOX LTD ORD (OTCMKTS:HCXLF) had a decrease of 43.29% in short interest. HCXLF’s SI was 67,600 shares in December as released by FINRA. Its down 43.29% from 119,200 shares previously. With 200 avg volume, 338 days are for HISCOX LTD ORD (OTCMKTS:HCXLF)’s short sellers to cover HCXLF’s short positions. The stock 2.69% or $0 during the last trading session, reaching $19.1. It is down 0.00% since December 3, 2016 and is . It has underperformed by 16.70% the S&P500.

The Asia Pacific Fund, Inc. (APB) formed wedge up with $15.81 target or 7.00% above today’s $14.78 share price. The Asia Pacific Fund, Inc. (APB) has $152.89 million valuation. The stock increased 0.55% or $0.0806 during the last trading session, reaching $14.7801. About 7 shares traded. The Asia Pacific Fund, Inc. (NYSE:APB) has risen 33.00% since December 3, 2016 and is uptrending. It has outperformed by 16.30% the S&P500.

Investors sentiment decreased to 1 in 2017 Q2. Its down 1.40, from 2.4 in 2017Q1. It worsened, as 2 investors sold The Asia Pacific Fund, Inc. shares while 3 reduced holdings. 1 funds opened positions while 4 raised stakes. 7.35 million shares or 0.85% more from 7.29 million shares in 2017Q1 were reported. New York-based Citigroup has invested 0% in The Asia Pacific Fund, Inc. (NYSE:APB). Brinker Cap Incorporated invested 0.02% of its portfolio in The Asia Pacific Fund, Inc. (NYSE:APB). 1607 Capital Ltd Liability Corp accumulated 365,081 shares or 0.28% of the stock. Lazard Asset Mgmt Ltd Liability Com holds 77,202 shares. Bancorp Of Montreal Can reported 27,208 shares. Moreover, Icon Advisers Inc has 0.13% invested in The Asia Pacific Fund, Inc. (NYSE:APB) for 138,742 shares. California-based Wells Fargo And Company Mn has invested 0% in The Asia Pacific Fund, Inc. (NYSE:APB). Karpus Mgmt Inc reported 1.04% in The Asia Pacific Fund, Inc. (NYSE:APB). Us Fincl Bank De has invested 0% in The Asia Pacific Fund, Inc. (NYSE:APB). Natl Bank Of America Corp De invested 0% of its portfolio in The Asia Pacific Fund, Inc. (NYSE:APB). Pnc Fincl Grp reported 50,715 shares. Qci Asset Management Inc New York reported 300 shares. 82,137 are held by Css Ltd Liability Il. Royal Fincl Bank Of Canada invested in 0% or 1,015 shares. Moreover, Strs Ohio has 0.01% invested in The Asia Pacific Fund, Inc. (NYSE:APB) for 204,658 shares.

Hiscox Ltd, together with its subsidiaries, provides insurance and reinsurance services. The company has market cap of $5.17 billion. The firm operates through four divisions: Hiscox Retail, Hiscox London Market, Hiscox Re and ILS, and Corporate Centre. It has a 18.14 P/E ratio. It provides commercial insurance for small-and medium-sized businesses, including household, fine art and collectibles, and luxury motor via brokers, through a growing network of partnerships, and directly to consumers.

The post The Asia Pacific Fund, Inc. (APB) Is At $14.78 Formed Wedge; HISCOX LTD ORD (HCXLF) Shorts Lowered By 43.29% appeared first on Stock Market News | HillCountryTimes | Get it Today.

from Stock Market News | HillCountryTimes | Get it Today https://www.hillcountrytimes.com/2017/12/03/the-asia-pacific-fund-inc-apb-is-at-14-78-formed-wedge-hiscox-ltd-ord-hcxlf-shorts-lowered-by-43-29/

[reinsurancecapital]

Hiscox Re ILS funds grow assets to $1.6bn

Hiscox Re ILS funds grow assets to $1.6bn

Hiscox Re Insurance Linked Strategies Ltd. (Hiscox Re ILS), the manager of third-party reinsurance investment funds at re/insurer Hiscox, has grown its assets under management again to reach $1.6 billion, as the ILS business helped Hiscox also grow its catastrophe premiums. (more…)

[omcik-blog]

New Post has been published on OmCik

New Post has been published on http://omcik.com/hiscox-retail-goes-from-strength-to-strength-in-2017-latest-news/

Hiscox Retail goes from strength to strength in 2017 | Latest News

Hiscox Retail goes from strength to strength as GWP increases and it is praised as a ’key success’ story of UK insurance

Hiscox Retail goes from strength to strenth, with reported gross written premiums for its UK and Ireland business rising to £125.8m in the three months to March from £110.5m a year earlier.

At the grouip level Hiscox GWP grew by 17.3% to £751.2m from £640.5m a year earlier.

Growth was driven by a strong performance from Hiscox Retail, though this was offset by an 8.6% decline in London market income in constant currency terms, the company said.

In sterling terms, London market GWP was flat at £157.7m against £157.1m.

“We have had a strong start to the year thanks to our long-term investment in Hiscox Retail, particularly in the small business sector,” said group chief executive Bronek Masojada.

“Hiscox London Market continues to face challenging conditions,” he added. “Hiscox Re and ILS are finding opportunities. We remain disciplined and are carefully navigating our way forward.”

Retail rates are broadly flat, the company said, though it added that generally rates remain under pressure, with double-digit declines in the marine, energy and US large property accounts, however rates remain under pressure in almost all lines.”

The broker channel saw the professions and specialty commercial business perform well helped by an expanded appetite for larger risks, Hiscox said. New business growth was also strong, it added.

Shore Capital analyst Eamonn Flanagan said today following the resutls: “The development of the retail division of Hiscox remains one of the key success stories across the UK insurance world.

“And it is coming to the fore at an ideal juncture as the softer rating environment in Lloyd’s continues.

“The group’s focus on service, product and franchise leaves it as one of the quality plays in the sector in our view. The rating does not yet reflect the quality, scale and potential of the retail operations across the UK, Europe, the US and Asia. There is so much more to come from this quality underwriter.”

[orbemnews]

Hiscox confirms how COVID-19 impacted its full-year results “A resilient performance in a challenging year” is how Hiscox Ltd described its full-year results for 2020. The global insurer posted a loss before tax of $268.5 million, driven by COVID compared to its profit of $53.1 million in 2019. Its COVID-19 reserves of $475 million remain unchanged. In better news, however, the business’s gross written premiums (GWP) of $4.03 billion are up slightly from the previous year. Meanwhile Hiscox London Market delivered profits of $97.2 million, up substantially from last year’s $23.3 million and Hiscox Retail grew 3% to $2.3 billion. The insurer’s direct and partnerships business increased by 15% and is now approaching $600 million GWP and serving over 800,000 customers. Hiscox Re & ILS has seen a downturn in its GWP of 14%, down to $743.4 million from 2019’s $866.5 million and Hiscox noted that this was driven by a disciplined approach to price inadequacy at the start of the year. Hiscox UK, meanwhile, delivered a resilient performance in 2020 with GWP growing by 1.3% to $756.1 million, from 2019’s $746.4 million, despite the challenges of 2020. Hiscox UK’s commercial business, both direct and through the broker channel, was cited as a key driver of this performance. Commenting on the results, CEO of Hiscox, Bronek Masojada said that the insurer’s long-held strategy of balancing big-ticket lines and retail earnings provided resilience in 2020. In 2021, the business’s priorities will move from resilience to opportunity, he said, as Hiscox is well placed to seize the opportunities arising from “the best conditions in the London Market in many years” as well as the structural shift to digital across all lines. He added his thanks to Hiscox’s employees and shareholders for their efforts and support. Chairman Robert Childs said: “The challenges of a global pandemic have not withered the green shoots of a hardening market. Rates are rising across all three of our business areas, and the market is turning. Together with our multi-year investments in technology and digital tools, we have the infrastructure, talent and financial firepower to realize the significant opportunities ahead. We can look forward with confidence as some normality returns globally in 2021 and we continue to focus on providing excellent service during these difficult times in all our markets.” Source link Orbem News #confirms #Covid19 #fullyear #Hiscox #Impacted #Results

[reinsurancecapital]

Hiscox Re ILS hires Ben Fox from Ontario Teachers

Hiscox Re ILS hires Ben Fox from Ontario Teachers

Hiscox Re Insurance Linked Strategies Ltd., the manager of third-party reinsurance capital funds at Hiscox, has hired Ben Fox from the Ontario Teachers Pension Plan (OTPP) as a portfolio manager within the Hiscox Re ILS investment team. (more…)