Hiscox

Insurance and reinsurance group Hiscox continues to enjoy an increasing benefit from its ILS and Kiskadee Investment Managers platform, with its ILS assets under management now reaching $1.25 billion, helping it to generate increased fee and profit commission.

Global insurance and reinsurance firm Hiscox today announced that Mike Krefta is to take over as Chief Executive Officer (CEO) of Hiscox Bermuda, Hiscox Re and insurance-linked securities (ILS), replacing Jeremy Pinchin.

The continued growth and expansion of its insurance-linked securities (ILS) and reinsurance linked investments business is one of the bright spots at re/insurer Hiscox Group, while its experience in the London market is less to write home about.

Insurance and reinsurance firm Hiscox is expanding its insurance-linked securities (ILS) capabilities with the addition of a collateralised reinsurance offering, to complement its existing flagship Kiskadee ILS funds which already have over $1 billion of capital invested in them.

The contribution made by its insurance-linked securities (ILS) business helped insurance and reinsurance group Hiscox to a good result, with the additional scale of the Kiskadee Investment Managers business increasingly adding income to the company.

Kiskadee Investment Managers, the Hiscox owned insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit, has reached its target of $1 billion of ILS assets under management ahead of target, passing the milestone in June.

Hiscox Re, the reinsurance arm of specialist global re/insurance group Hiscox, has underwritten 37% more in gross premiums for the insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit Kiskadee Investment Managers in the first-quarter.

Specialist global insurance and reinsurance group Hiscox expects assets under management at its insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit Kiskadee Investment Managers will pass $1 billion in 2016.

Kiskadee Investment Managers, the insurance-linked securities (ILS) fund and reinsurance linked investment strategies unit of Hiscox Re, has more than doubled its assets under management during 2015 to near $850m of ILS assets managed at the January renewals.

Insurance and reinsurance group Hiscox continues to benefit from the efficiency gained through its growing third-party capital and insurance-linked securities (ILS) unit Kiskadee Investment Managers, as it helps the company to offset market pressures.