Insurer says it is making move to reflect growing range of ILS products it can offer

Image of expansion

Hiscox is planning to build its collateralised reinsurance insurance linked securities (ILS) capability further from 1 January 2017.

This new arm will be in addition to its existing ILS activity,

The insurer says it is making the move to reflect the growing range of ILS products it can offer.

The ILS team will 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.

In a statement today 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.”

Hiscox Re chief executive Jeremy Pinchin 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.”

Chief operating officer Richard Lowther and chief investment officer for Hiscox Re Insurance Linked Strategies Michael Jedraszak, both reporting directly to Pinchin, will continue to lead the development of the business.

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.”