Hiscox
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Analysis supports market commentary that after a trend of more centralised reinsurance buying, cedants are now buying more reinsurance. -
Reinsurers must be prepared for how much work is required to be an asset manager, said the Hiscox Re & ILS COO.
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Hiscox has won a $1.8mn judgment against a former employee who reportedly used company funds to buy luxury watches.
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Liz Breeze replaces Yuval Abraham and will be based in Bermuda.
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The Insider 50 rose 0.5 percent last week to reach 1,155.8 index points.
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Andrew Dolphin will remain in London and report to Hiscox Re & ILS CEO Mike Krefta.
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Hiscox is likely to be the first of many syndicates to shrink their 2019 capacity.
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The Bronek Masojada-led carrier will reduce its capacity by 12.5 percent next year after a 39 percent increase in 2018.
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Hiscox London Market has left the warranty and indemnity (W&I) market and told W&I-focused MGAs it will not renew capacity arrangements.
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Market share data points to about a 1 percent loss share for both Scor and Hannover Re, notes analyst Philip Kett.
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More than half the companies surveyed said they experienced three or more invasions over a 12-month period.
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Bold Penguin is targeting commercial segments, working with partners such as Hiscox.
