Hiscox

Excluding the impact of its ILS operations, premiums in the reinsurance segment grew by 3 percent.

Catastrophes and large claims dragged Bermuda-based Hiscox Re and ILS to a $23.2mn loss for 2018.

The government also said it is exploring the possibility of issuing a cat bond in the near future.

The Lloyd’s business planning process is drawing to a close after a difficult year for London syndicates.

Mike Schindel replaces Ross Nottingham who was promoted to chair of North America for Hiscox Re and ILS North America in August.

Third-quarter catastrophe losses resulted in a 1.8 percent to 5.2 percent hit to the shareholder equity of global reinsurers, with major catastrophe writers all impacted.

Only around three or four reinsurers are managing true asset management platforms, Hiscox Re & ILS chief operating officer Richard Lowther said at the Trading Risk New York Rendez-Vous.

A Monte Carlo roundtable debate was hosted by this publication.

Reinsurers not doing business with the end investor are dealing with "fake ILS", the Hiscox Re & ILS COO said.

Liz Breeze will be based in Bermuda subject to immigration approval.

The analyst estimated the continental (re)insurers are each on course to take 5% of losses from the Category 2 hurricane heading for the Carolinas.

It is understood the hire of Paresh Thakrar is part of a wider push to build out Brit’s third-party capital capabilities.