adverse loss development News

Bermuda-based specialist insurer Hiscox Ltd. has completed a loss portfolio transfer (LPT) agreement with Enstar Group Ltd., whereby Enstar’s Syndicate 2008 will assume historical liabilities for selected lines of Hiscox Syndicate 3624, including the majority of Hiscox USA’s surplus lines …

The ongoing pressures of diminishing investment returns, dwindling loss reserves and intense competition are beginning to erode industry fundamentals, cautioned A.M. Best in a special report titled “Insurers Hunt for Diminishing Opportunities in a Market Laden with Challenges.” “There is …