Hiscox

Global insurance equities slide on virus fears as investors flee to haven stocks

Safe haven government bonds reached historic highs while (re)insurance stocks across Europe and Asia tumbled on fears over economic disruption caused by the spread as cases approached the 100,000 mark.

Hiscox margins to have ‘largely recovered’ by 2023: Jefferies

London-listed Hiscox should report an improved combined ratio of 96.5 percent in 2020, driven largely by reserve releases, with margins forecast to have “largely recovered” by 2022-2023, according to equity analyst Jefferies.

Hiscox shares rally as reserving actions overshadow earnings miss

Shares in London-listed Hiscox climbed nearly 8 percent in early trading before narrowing the gain later on Monday – despite the Bronek Masojada-led firm reporting a marked deterioration in full year profit – spurred in part by renewed investor confidence following last week’s widespread equity sell-off over coronavirus fears.

Hiscox to swerve Coronavirus contingency losses as market begins excluding risk

London-listed Hiscox has revealed it doesn’t have “any significant exposure” to potential Coronavirus-related contingency losses as underwriters of the class begin excluding the virus from event cancellation policies, The Insurer understands.

Swiss Re and Lloyd’s carriers in the spotlight over Coronavirus fears

International (re)insurer Swiss Re – along with a number of Lloyd’s syndicates – are the most exposed to potential losses emanating from the ongoing coronavirus outbreak in China, according to a note from analyst Jefferies.

Hiscox moving 300 staff out of London

London-listed carrier Hiscox is set to move 300 employees out of the capital as the (re)insurer looks to bolster its presence across the rest of the UK.

1.1 reinsurance rate rises have limited effect on Beazley and Hiscox: Numis

Matching reinsurance expenditure and income at London-listed carriers Beazley and Hiscox means that the pair will see a “relatively neutral” impact from the widely acknowledged reinsurance rate increases seen at 1 January, research from equity analyst Numis has found.

Hiscox picks CyberCube for systemic risk analysis

Hiscox has adopted insurtech CyberCube’s portfolio management software as the London-listed insurer looks to better understand the cyber risks to which its book is exposed.

Hiscox hires Millard as chief investment officer

London-listed insurer Hiscox has appointed James Millard as chief investment officer to manage $6.4bn of the group’s assets.

‘Burden of proof’ on Hiscox management as KBW flags social inflation fears

“More comfort” is needed from Hiscox management with regard to the reserve position of its retail US casualty book, according to a research note from Keefe, Bruyette & Woods (KBW).

Liberty hires Hiscox’s Rubin as North American terrorism head

Liberty Specialty Markets (LSM) has appointed Jennifer Rubin to a newly created role as senior underwriting executive and head of terrorism underwriting in North America.

Hiscox shares exposed to further downside risk and potential 2020 capital squeeze: Numis

Despite a 24 percent decline since mid-summer, fuelled in part by a November profits warning, shares in London-listed carrier Hiscox still remain exposed to prominent “downside risk” and even a potential 2020 capital strain, according to Numis Securities.

Lloyd’s launches $25mn per risk space consortium led by Brit and Hiscox

Lloyd’s has launched a new multi-million-pound space insurance policy targeted at the so-called ‘new space’ sector and backed by a consortium of 18 syndicates led by Brit and Hiscox MGA.

Hiscox to leave FTSE100 after brief sojourn

After a near 25 percent fall in its share price since the summer, Lloyd’s carrier Hiscox plc is set to be ejected from the FTSE100 later this week.

London carriers set to swerve Eur1bn Dresden art robbery loss

The London fine art and specie market looks set to dodge material losses emanating from the robbery of one of Europe’s largest collections of art in the German city of Dresden today (25 November), The Insurer understands.

Axa UK builds DA function with Hiscox and Ageas duo

Axa UK has appointed Gary Head as director of delegated authorities, while Joel Markham takes on the role of sales and marketing head for delegated authorities.

Hiscox casualty reinsurance withdrawal points to need for more rate: KBW

The revelation that Lloyd’s blue-chip Hiscox will cease writing all casualty reinsurance is a sign that current rate increases are not large enough to offset the negative claims trends, driven by social inflation, according to equity analysts Keefe, Bruyette & Woods.

Hiscox suffers Lloyd’s “blue-eyed boy” syndrome: Canaccord

London-listed carrier Hiscox is suffering from “blue-eyed boy” syndrome after its shares initially fell over 14 percent in trading yesterday following US casualty loss fears, according to Canaccord Genuity.

Mind the gap…

There are now only three listed Lloyd’s (re)insurers so it’s particularly noteworthy when one initially falls over fourteen percent on the same day one of the others leaps over seven percent.

Hiscox seeks to reassure after mammoth share price slump

London-listed carrier Hiscox has sought to reassure investors over comments made to analysts about its retail division yesterday (6 November) which helped trigger a drop in its share price of 14 percent in early trading this morning.

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