Hiscox

One week on from the Supreme Court judgment: what do we know now?

The Supreme Court ruling in the City regulator’s test case over disputed BI claims will have a significant impact on property insurers, but those involved in the proceedings have sought to reassure investors that the judgment will not lead to significantly greater losses.

Berenberg: Hiscox “well placed” to target US retail opportunities

Hiscox management remains “very optimistic” about growth opportunities in the global retail SME space, Berenberg analysts have reported, following a meeting with the carrier’s CEO Bronek Masojada and CFO Aki Hussain.

Supreme Court ruling “alleviates uncertainty” hanging over Hiscox share price

The Supreme Court’s final ruling on the Financial Conduct Authority’s business interruption test case has “put to bed” the uncertainty hanging over Hiscox’s ultimate losses from the event, according to a note from Berenberg.

Hiscox ups Covid-19 BI estimate by $48mn following Supreme Court judgment

Hiscox has increased its estimated Covid-19 business interruption losses by $48mn following the Supreme Court’s judgment this morning on the Financial Conduct Authority’s test case appeal.

Hiscox USA appoints Spunberg head of strategy and business transformation

Hiscox has promoted Bert Spunberg to the newly created role of head of strategy and business transformation in the US.

Nexus acquires marine business from Hiscox MGA

London MGA/intermediary Nexus Group has acquired the Hiscox MGA marine business (HMM) via an asset purchase into Nexus subsidiary Millstream Underwriting.

Aquiline-backed ERS continues specialty build-out with Hiscox’s marine and energy underwriter Furlong

Lloyd’s managing agent ERS has continued on its hiring spree as it expands beyond its traditional motor focus, adding another Talbot alumnus to its ranks in the form of Phil Furlong, The Insurer can reveal.

Hiscox names Shewry as UK CFO

Hiscox has appointed Tom Shewry as chief financial officer for its UK business and Hiscox Insurance Company Limited, the group’s UK insurance carrier.

Hiscox working with GC on ~$650mn Lloyd’s legacy transaction

London-listed Hiscox has appointed Guy Carpenter to market a portfolio of back year liabilities written through its Lloyd’s platform with reserves of approximately $650mn, The Insurer can reveal.

AM Best affirms Hiscox ratings on brand and earnings strength

AM Best has affirmed the A financial strength rating and “a+” long-term issuer credit rating (ICR) of London-listed Hiscox and its operating subsidiaries, citing the (re)insurer’s brand strength and diversified book of business.

Low investment yields will underpin market-wide reinsurance rate rises: Vestergren

Heavy loss activity in specific markets will support rate increases at the upcoming 1 January reinsurance renewals, but the key dynamic that will underpin pricing improvements across the entire industry is the depressed investment environment, Hiscox Re & ILS’ Daniel Vestergren has told The Insurer.

SMEs under threat if insurers do not payout on BI claims: HAG

Lawyers representing a policyholder action group involved in the UK regulator’s business interruption (BI) test case have warned a second national lockdown could see more SMEs fail if their insurers do not pay valid claims.

Hiscox London Market 9M GWP up 7% as rates soar 18%

The London market arm of London-listed Hiscox has reported top-line growth of 7 percent for the first nine months to $772.9mn, with aggregate rates up 18 percent year-to-date and pricing momentum accelerating in the third quarter.

Hiscox UK names Marling COO

Hiscox UK has promoted interim change director Louise Marling to chief operating officer.

Hiscox appoints O’Sullivan head of investor relations

London-listed Hiscox has named Yana O’Sullivan as head of investor relations.

PartnerRe names Hiscox’s Hughes as third-party capital CEO

PartnerRe has appointed Hiscox’s Andrew Hughes as CEO of third-party capital.

Hiscox Re & ILS names Kathleen Reardon CEO

Kathleen Reardon, the former CEO of Hamilton Re, has been named CEO of Hiscox Re & ILS, subject to regulatory approval.

Markets Review: Hiscox bucks Q3 downward trend; Beazley biggest faller

Shares in London-listed Hiscox gained nearly 14 percent in the third quarter of 2020, the largest recovery among European carriers covered by this publication.

Hiscox upgraded on “remarkable” retail growth despite Covid-19 criticism

The growth achieved at the retail arm of Hiscox against a backdrop of negative press and economic headwinds has been labelled “remarkable” by Jefferies’ Philip Kett, prompting the analyst to reiterate its ‘buy’ recommendation and lift its price target for the London-listed carrier.

European P&C stocks sink for second day on Covid lockdown fears

European (re)insurance stocks lost further ground on Tuesday as investors reacted to news that both the UK and Spain are set to impose stricter lockdown measures due to rising coronavirus infections.

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