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Growth was driven by active risk selection, as rating environment begins to moderate, said CEO Cox. -
Its combined ratio stayed under 80%, which may give it room to outperform on annual targets.
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The Bermudian booked net favorable reserve development of $1.6mn.
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Anthony Izzo has been appointed chief broking officer to lead the team.
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The loss is based on modelled outputs, as opposed to an initial loss estimate.
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Quintes' revenues for 2025 are projected in the $110mn-$120mn range.
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The firm’s exposure to US SCS was almost exclusively related to a non-renewed homeowners’ program.
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Cat losses were lower year-on-year but other risk losses were recognised.
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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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The board of directors has voted for a 10% rate hike.
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Market-wide testing is not expected to start until late Q4 this year or Q1 2025.
