Hiscox
-
Nephila’s fall in AuM contributed to the trend of specialist firms shrinking, as reinsurer-backed assets were up modestly. -
The reinsurer wants to take more net risk after raising £400mn new equity earlier this year, but is facing a steep drop in ILS support.
-
The firm's ILS AuM remains at $1.5bn nominally, but reserves pulled deployable capital to $1bn.
-
A Hiscox group is seeking £52mn while lawyers for a QBE group action have secured funding.
-
The late July High Court hearing will also involve Arch, Argenta and QBE.
-
The scheme could see claimants in different sectors offered pence per pound of limit purchased.
-
An analyst said the fundraise offered investors “a secure balance sheet” at an attractive valuation.
-
The carrier says it has sufficient capital to meet expected liabilities from Covid-19.
-
The insurer highlighted its reinsurance cover in place as it downplayed the scope of BI exposure.
-
The insurer is currently facing threats of legal action from business owners unhappy about Covid-19 claim denials.
-
UK clients have formed an action group and are seeking a legal opinion on their BI claims.
-
The reinsurer said its worst-case cancellation losses would run to the mid-triple-digit millions, with a 15 percent market share.
Most Recent
-
GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%
22 November 2024 -
American Coastal targets $100mn of Florida named storm coverage
22 November 2024 -
Allstate pegs October cat losses at $226mn post-tax
21 November 2024 -
Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM
20 November 2024