Hiscox plans sidecar reinsurer
Hiscox announced today that in order to take advantage of expected underwriting conditions, Hiscox Syndicate 33, which it manages and in which it has a 72.5% participation, is in discussions which could lead to the creation of a new reinsurer which will only reinsure Hiscox Syndicate 33.
If the transaction proceeds investors will capitalise a newly established Bermuda reinsurer which would enter into a quota share reinsurance arrangement with Syndicate 33 in respect of its 2007 and
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