Hiscox merger to deliver on capacity and underwriting

Hiscox has appointed Jeremy Pinchin as CEO for Hiscox Re as the first step in a planned merger of Hiscox’s reinsurance functions inBermuda, London and Paris.

Speaking with Bermuda:Re about the move, Hiscox said “changing market conditions and the opportunity to combine capacity and our expertise in underwriting as well as areas such as catastrophe modelling and analytics are at the root of our move to form Hiscox Re.”

Addressing how the development will affect the reinsurance function of Hiscox, a spokesperson for the company said that “there are a number of regulatory, legal and tax implications that need to be worked through. When they are complete - and we aim to have the new structure in place in time for the 2014 January renewal season - we will be in a position to release more detail. But ensuring easy access for clients and brokers to our combined expertise will shape our new structure.”