Hiscox: Collateralised Reinsurance ILS Capability

September 13, 2016

Bermuda-based Hiscox is to build a collateralised reinsurance insurance linked securities [ILS] capability to be launched on 1 January 2017, in addition to an expansion of its fully-fronted ILS fund structures.

To reflect the move and the growing range of ILS products it can offer, the ILS team is to rebrand under Hiscox Re Insurance Linked Strategies. Hiscox Re Insurance Linked Strategies will continue to provide capacity to Hiscox Re – which remains the primary contact for reinsurance brokers and clients.

The company said, “With assets under management now exceeding US$1bn and a near three year track record, Hiscox Re Insurance Linked Strategies’ ambition to develop a collateralised reinsurance ILS capability will complement its existing single investor funds and managed accounts, in addition to its two successful Kiskadee flagship funds.”

Commenting on the development, Jeremy Pinchin, Hiscox Re CEO, said: “We are beginning to write the next chapter of our already hugely successful ILS business. The intended launch of a collateralised reinsurance ILS capability will add further options to investors, clients and brokers whilst being complementary to our existing funds.”

Richard Lowther as Chief Operating Officer and Michael Jedraszak as Chief Investment Officer for Hiscox Re Insurance Linked Strategies, both reporting directly to Pinchin, will continue to lead the development of the business.

Commenting on the rebrand, Lowther added: “While the rebrand under Hiscox Re Insurance Linked Strategies reflects the growing independence of this area of our business, our mandate continues to be to provide attractive and diverse ILS investment opportunities for our investors which also meet the broader needs of Hiscox Re’s clients. The new collateralised reinsurance ILS capability will help do exactly that.”

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