Hiscox

The carrier said the ILS business was finding opportunities in the retro market where reduced capacity has “significantly improved rates”.

He became CUO in 2012, having also served in a range of roles including CEO of Hiscox USA, underwriter of Syndicate 33, and MD of Hiscox Global Markets.

Firming market an opportunity for the growing ILS fund, according to the analysts.

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.