Hiscox Re Insurance-Linked Strategies
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Hiscox said outflows from the ILS unit were offset by "record returns" in Q3. -
The industry’s ability to draw new capital will hinge on the outcome of the Atlantic hurricane season.
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The reinsurance and ILS unit posted strong net premium growth supported by additional capital from Hiscox Group.
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The ILS expert had joined as a portfolio manager in 2018 from Ontario Teachers’ Pension Plan.
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The reinsurer manager described Q3 net inflows as “broadly stable”.
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The hardening rate environment in Florida provided a mid-year opportunity for some, but overall there was little growth.
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The firm reserved $40mn for Ukraine, citing ‘small net losses’ in Re & ILS.
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The underwriter had worked at Hiscox since 2019 following a long stint at Ariel Re and predecessor entities.
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The carrier recorded $224mn of natural catastrophe losses.
