Hiscox
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Kevin Kerridge takes over from Steve Langan, who will retire later this year. -
Mary Margaret von Herberstein will work on relationships with quota-share capacity providers.
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Both have worked at Hiscox cumulatively for nearly a decade and are the latest Hiscox executives to join the business.
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The executive replaces Stéphane Flaquet in the role.
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The carrier has been replenishing its team following departures last year.
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The equity research firm cuts its EPS forecasts for the carrier but lifts the share price target.
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A direct P&C turnaround and a narrowing of the loss in the scaled-back reinsurance division are eclipsed by hefty contingency losses within the specialty division.
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Hiscox’s decision to adjust its exposure in US casualty retail classes has been welcomed by analysts, who nevertheless warned that it will slow the carrier’s recovery.
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Isha Patel has worked at the carrier since 2013 and was previously area director of the south.
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The carrier has admitted to errors in select cases but stressed that its $475mn loss figure remains unchanged.
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An entrepreneur running an escape room business wins the sum after media intervention.
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The segment returned to underwriting profit despite the group reporting a significant pre-tax loss.
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