Bermuda-based Hiscox is set rebrand its insurance-linked securities team and move into collateralised reinsurance in January next year.
The ILS team will rebrand under Hiscox Re Insurance Linked Strategies and will continue to provide capacity to Hiscox Re.
Jeremy Pinchin, Hiscox Re chief executive officer, 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, the chief operating officer, and Michael Jedraszak, the chief investment officer for Hiscox Re Insurance Linked Strategies, 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.”
Hiscox, ILS, Bermuda, Insurance, Reinsurance