Hiscox
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Marlon Williams will focus on the placement of reinsurance and retro business. -
The unit’s premium reduced by 4% for the first quarter.
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The cost of reinstatement was included in $170mn wildfire net loss figure.
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The carrier previously raised $125mn via an Ocelot Re cat bond in 2023.
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Allocators are waiting for 2024 to pan out, according to Hiscox CEO Aki Hussain.
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Sources said that Japanese big-three carrier Sompo and Italian insurance giant Generali are circling.
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Curtis Dickinson will help to oversee the strategy and vision of Hiscox Re & ILS.
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The consortium will offer up to $50mn of per-program capacity.
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The pension fund handed an ILS mandate to Hiscox in September 2023.
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CEO Hussain said third-party capital in 2023 remained flat.
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The bond will provide index-based, annual aggregate coverage in the US and Canada.
