Hiscox

Hiscox shares fall 14% as analyst warns of ‘casualty catastrophe’

Shares in London-listed carrier Hiscox fell 14 percent in early trading this morning (7 November) as investors appeared to continue to be spooked by its trading statement on Monday, which flagged potential claims issues in US casualty, as well as a trenchant analyst note released by Jefferies.

Hiscox shares dip as analysts note high cat losses

Shares in London-listed carrier Hiscox fell this morning following a trading statement which estimated $165mn net losses from H2 cats including Typhoon Hagibis, noted US casualty claims inflation and predicted a higher-than-expected combined ratio of 97-99 percent in its retail arm.

Hiscox pegs H2 cat losses at $165mn; warns on US casualty claims

Hiscox Ltd estimates net losses from Hurricane Dorian and the Japanese Typhoons Faxai and Hagibis at $165mn and warned that it is also experiencing some “increased claims activity” in a number of long-tail US casualty lines, in its nine months trading statement this morning.

Hiscox launches AR app to model US flood risk

London-listed heavyweight Hiscox has released a new app that uses augmented reality and a virtual topographical map to model the ways predicted sea level rises could impact Greenville, a suburb of Jersey City, Hudson County, in the US.

Lloyd’s heavyweights lead 2020 pre-emption approvals

With the 2020 syndicate business approval process well underway, Lloyd’s blue-chip carriers Beazley, Hiscox and Tokio Marine Kiln head the list of syndicates with third-party capital that have received approval to expand significantly next year, The Insurer can reveal.

Hiscox plans large increase in Lloyd’s 2020 capacity

Hiscox Syndicate 33 has proposed to raise its stamp capacity by more than a fifth, or £300mn ($372mn), next year to a total of £1.66bn, as the blue-chip carrier responds to rising rates and a weakening pound.

Marsh’s Torrent unveils Hiscox-underwritten flood offering

Marsh subsidiary Torrent Technologies has announced a comprehensive private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients.

Hiscox names Musselle group CUO

London-listed carrier Hiscox has appointed Joanne Musselle as its new chief underwriting officer.

Hiscox names McConnell US CUO, promotes Re & ILS pair

Hiscox’s Megan McConnell is relocating to take over the role of chief underwriting officer in the US from Eric Micheals, with two Hiscox Re & ILS appointments also announced as a result.

Hiscox shares dip despite earnings win

Hiscox shares dipped on Monday morning following the release of its h1 results despite the Lloyd’s blue chip delivering profits at the upper end of its guidance range for the first half of 2019.

Hiscox profit climbs 3.5 percent at H1

London-listed carrier Hiscox saw its pre-tax profit climb 3.5 percent in the first half of the year to $168mn, up from the $162.7mn it reported in H1 2018.

Middle East tanker tension drives Hiscox seized shipping cover

London-listed carrier Hiscox has launched a malicious vessel seizure product to cover shipping targeted by nation states, as political tension intensifies between the US and Iran over British tankers in the Strait of Hormuz area.

Hiscox promotes Hughes to lead ILS business as Lowther departs

Hiscox has appointed Andrew Hughes to the role of managing principal, Hiscox ILS.

Lowther to leave Hiscox Re ILS

Richard Lowther, managing principal at Hiscox Re Insurance Linked Strategies, is to leave the company.

Hiscox now valued at record 3x NTA as investors remain loyal despite 2019 earnings hit

Analysts have remained upbeat about prospects for London market veteran Hiscox, despite the carrier posting an ominous trading update last week, noting that shares are currently trading at a record multiple.

Hiscox casualty re head departure latest in line of senior exits

Hiscox head of casualty reinsurance Nicholas Pascall is the latest executive to depart the Lloyd’s blue-chip following a wave of defections and retirements at the carrier.

Hiscox Re’s head of specialty Smith to depart

London-listed carrier Hiscox is to part ways with its reinsurance arm’s head of specialty Damien Smith, The Insurer can reveal.

Arrest warrant issued for former Hiscox Bermuda exec

The Bermuda Police Service (BPS) has issued an arrest warrant for Yuval Joshua Abraham, the former CFO of Hiscox Services Ltd who was sued by the company over fraud allegations.

Hiscox shares soar to new 52-week high

London-listed carrier Hiscox saw its share price reach a 52-week high on Tuesday as stock in the (re)insurer climbed over 2.2 percent in trading this afternoon.