Kiskadee ILS fund

Insurance, reinsurance and third-party reinsurance and ILS capital management group Hiscox has continued to reduce its property catastrophe reinsurance book of business, as it seeks to navigate the challenging market with the help of new products.

In its results announced this morning, insurance, reinsurance and third-party capital management group Hiscox Chairman Robert Childs, said that the firm expects the softening in the insurance and reinsurance market will deteriorate further.

The reinsurance market remains ‘pretty rational’ despite the highly competitive and over-capitalised nature it finds itself in right now as well as the growing influence of insurance-linked securities (ILS), said Richard Watson, Chief Underwriting Officer at Hiscox.

Bermuda-headquartered, London-listed insurance and reinsurance group Hiscox has announced two appointments to Kiskadee Investment Managers, Hiscox Re’s insurance-linked securities (ILS) asset management subsidiary.