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Bermuda:Re+ILS Spring 2016

33 Spring 2016 Bermuda:Re/insurance+ILS • Aggregate excess of loss; • Crop; • Parametric, retro and industry loss warranties. Hiscox Re’s property teams for international and North America combine common sense and technical know-how to meet its clients’ property reinsurance challenges, no matter how complex. Hiscox’s proactive approach has led to the creation of a product team and successful new product strategy. Says the firm: “Representing a crosssection of skills, the team filters broker and client discussion to match areas of potential demand with potential new solutions: ideas that can lead to client specific, tailored outcomes.” Key executives Damien Smith, director of underwriting Bermuda/chair of international, Hiscox Re; Michael Schindel, underwriter international; Nicholas Thuell, underwriter international; Devin Page, underwriter international; Bevis Tetlow, chair of North America, Hiscox Re; Bill Lazzaro, underwriter North America; Suzanne Ringold, underwriter North America; David Roache, underwriter North America and per risk. Novae Novae’s US direct and facultative (D&F) portfolio is focused on providing meaningful capacity on an excess of loss basis for a broad range of clients from Fortune 1,000 global accounts to single, spot locations anywhere in the US. Novae Bermuda Underwriting has the ability to deploy up to $50 million of capacity on behalf of Syndicate 2007 at Lloyd’s (Novae) dependent on exposure and attachment levels and is willing to consider standalone cat and (semi) automatic facultative facilities. The catastrophe book is a growing balanced portfolio of treaty business with an emphasis on consistency, service, contribution to the price-finding process and detailed understanding of the exposure reinsured. Capacity is deployed on proportional, excess of loss and aggregate basis. “We endeavour to be consistent over the cycle and provide long-term support. Our portfolio includes regional, global and selected retrocessional covers,” says the firm. Strengths include that the maximum line deployed reflects the balance of the portfolio, the quality of exposure information and the history of the relationship. It varies up to $25 million and the risk carrier for all authorisations is Syndicate 2007 at Lloyd’s (Novae). Key executives Philippe Chevereau, Bermuda unit head, treaty catastrophe reinsurance; Aaron Garcia, underwriter, treaty catastrophe reinsurance; Nik Lucking, unit head, US direct and facultative (D&F); Nick Garside, deputy head, US D&F; Keerome Maybury, senior associate underwriter, US D&F; Tammy Moniz, risk modeller, US D&F. PROPERTY TEAMS Key executives Sanjoy Mukherjee, managing director and CEO of Everest Re Bermuda. He also serves as executive vice president, general counsel, corporate secretary and chief compliance officer for Everest Re Group. Peter Bell, deputy managing director and head of the property and specialty team; Cindy Hooper, underwriter. Hamilton Re Hamilton Re is a Bermuda-based Class 4 property and casualty re/insurer, with an established, balanced book of business in its fifth year of growth. Shareholders’ equity at December 31, 2015 was over $1.4 billion. Hamilton Re wrote $206 million of gross premiums in 2015, and is forecast to write $250 million in 2016. The firm is rated ‘A-’ (Excellent) with a stable outlook by AM Best and an AM Best Financial Size Category of Class XIII. Hamilton Re’s property portfolio represents a large number of clients across the world providing a broad and diverse portfolio. Says the firm: “We have many long-standing strong relationships in the market that transferred to Hamilton Re with our team.” In the US, Hamilton Re predominantly focuses on regional companies with residential and small commercial exposures. It supports certain nationwide accounts and has more specific, targeted relationships with companies writing complex commercial risks. Internationally, it concentrates on the territories that are supported by more robust catastrophe models and provide better data (eg, Australia, Japan, Europe and Canada). “Our normal maximum programme line is $50 million. Where possible, we work with brokers and clients to add value by being a useful quoting market,” it claims. “We have strong analytical capabilities and license two vendor models which are blended and adjusted to develop our own view of pricing and accumulation. We support many programmes across all layers but have a general bias towards the top of placements where possible at this time.” Key executives Tim Duffin, chief underwriting officer, property; Susan Steinhoff, senior vice president, property; Ebony Brockington, assistant underwriter; Sarah Cooper, assistant underwriter. Hiscox Re Bermuda The Hiscox Re property team provides a wide range of conventional and alternative products for clients in North America and worldwide: • Risk excess of loss; • Catastrophe excess of loss;


Bermuda:Re+ILS Spring 2016
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