Hiscox
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Cyber, mortgage and crop were identified as attractive growth areas. -
The carrier’s retail division saw premiums increase by 7.3% to $2bn.
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The underwriter has worked at Hiscox, Lloyd’s, Chubb and Zurich.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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The LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
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Top line grew across all carriers even as pre-tax profits dipped.
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Matthew Budd has over 30 years’ claims experience and previously worked for Talbot and XL.
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The carrier posted its H1 results earlier today, beating analyst consensus.
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The carrier also announced an increased share-buyback programme.
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Stephane Flaquet replaces George Marcotte, who has been interim COO since September 2024.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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Plus, the latest people moves and all the top news of the week.
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The broker has been building out its Bermuda reinsurance presence.
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Analysts were interested in the potential for fee income from the retail division.
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The majority of the savings are expected to be realised in the retail division.
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The hire is the latest in the newly formed carrier’s buildout.
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Motion Specialty will initially focus on high value home and flood insurance in the US.
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Beazley, Hiscox and Lancashire all grew in Q1 despite widespread rate decreases.
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Plus, the latest people moves and all the top news of the week.
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The executive also addressed the impact of the US tariffs.
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The carrier reported a 3% price reduction across London market business.
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The executive joins from the London Stock Exchange.
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Hiscox, Beazley and Lancashire all reported top line growth, but ROEs dipped in an active wind season.
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Several underwriters left Hiscox’s property D&F team last year to join MGA Velocity.
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The result is 1.1 points ahead of the midrange of a 6.4%-16.4% forecast.
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Conditions in the London market remain attractive according to CEO Aki Hussain.
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Lloyd’s CEO pay is lowest compared to major LSE-traded specialty insurers by a considerable margin.
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The carrier announced a $175mn share buyback.
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Newer swing products offer an alternative way to deal with escalating awards.
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The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.
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Amie Townsend will be responsible for developing Beat’s UK and Europe platform.
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The MGA can now put down $200mn lines in the niche aviation war class.
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In 2019, Shali Vasudeva left her COO role at Hiscox to join Axa UK & Ireland as COO.
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The movers include former line underwriter for major property D&F, James Robertson.
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A resurgence in IPO activity may help provide new business for underwriters and reduce competition.
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Rates are continuing to soften in D&O and cyber, according to CFO Paul Cooper.
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The carrier’s retail division saw the largest growth at 4.7%.
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Nick Orton said the market is now pricing for non-peak perils, amid some surprise losses.
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We may be in the midst of US hurricane season, but international catastrophe losses can emerge at any moment.
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The carrier noted that the board has commenced the search for a permanent chair.
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The ex-Prudential CEO was aboard the yacht with tech entrepreneur Mike Lynch.
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Hiscox has gone live with its AI-enhanced lead underwriting model for sabotage and terrorism business.
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Lancashire was the only carrier to see double-digit growth in insurance revenue for H1.
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Plus the latest people moves and all the top news of the week.
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Hiscox posted a H1 London market combined ratio that worsened by 3.7 points to 86.9%.
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Hussain said the firm’s exposure to the CrowdStrike losses was “immaterial”.
