Hiscox Re & ILS

Name

Hiscox Re & ILS

Legal name

Hiscox Insurance Company (Bermuda) Limited

Website

https://hiscoxre.com

Company type

Public

Founded year

1901

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Hamilton

HQ country

Bermuda

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Reinsurance Premiums: Hiscox Re writes reinsurance business through Bermuda and London platforms, generating insurance contract written premiums (ICWP) from property, specialty, retrocession, cyber, marine, aviation, and climate & resilience lines. In 2024, written premiums exceeded $1 billion, reaching $1.03 billion. In Q1 2026, ICWP was $527.1 million, up 7.1% year-on-year.
2. ILS Fund Management Fees: Hiscox Capital Partners generates fee income from managing insurance-linked securities funds including catastrophe bond funds, diversified funds, and other ILS structures for institutional investors. Catastrophe bond fund investments generate additional fee income without supporting written premiums.
3. Capital Partner Platform Services: Hiscox Capital Partners offers aligned structures including quota share partnerships and sidecars that share risk and reward with capital partners transparently, generating fee income from structuring and managing these partnerships.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Hiscox Re is the reinsurance division of Hiscox Ltd that underwrites property, specialty, retrocession, cyber, marine, aviation, and climate and resilience reinsurance through Lloyd's Syndicate 33 and a Bermuda underwriting platform. The unit also operates Hiscox Capital Partners, which gives institutional investors and capital partners access to underwriting expertise through insurance-linked securities funds (Apex, Diversified, Select, Cadence), catastrophe bond funds, quota share partnerships, sidecars, and Syndicate 6104.

Product overview

Hiscox Re is a reinsurance platform comprised of the Hiscox Group's reinsurance business and the Hiscox Capital Partners capital partner platform. The reinsurance business writes through Bermuda and London with a focus on property and specialty risks, offering seven core product lines: Property Reinsurance, Property Risk XS (Risk XL), Retrocession, Cyber Reinsurance, Marine and Aviation Reinsurance, Climate & Resilience, and Specialty Reinsurance. Hiscox Capital Partners provides capital partners access to underwriting expertise through ILS and Cat Bond Funds (Apex, Diversified, Select, Cadence), quota share partnerships, sidecar structures, and Syndicate 6104. The company also offers specialized flood products including FloodXtra.

Differentiator

Problem solved

Functional benefit

Brands

• Hiscox Capital Partners: Dedicated division within Hiscox Re managing capital for institutional investors and (re)insurance partners, providing access to underwriting expertise through ILS funds, catastrophe bond funds, sidecars, and quota share partnerships
• Apex
• Diversified
• Select
• Cadence

Products and services

• Property Reinsurance Property reinsurance products offering risk excess of loss, catastrophe excess of loss, aggregate excess of loss, crop, parametric and industry loss warranties, and takeout quota share through Bermuda, International and US underwriting teams.
• Property Risk XS (Risk XL) Diversified global property risk excess of loss reinsurance written by experienced International and US underwriters, recognized as a lead market with strong reputation.
• Retrocession Retrocession reinsurance products including UNL retrocession, industry loss warranties, and cat on D&F, with US$50m capacity.
• Cyber Reinsurance Non-proportional cyber reinsurance solutions including aggregate XL and stop loss, major cyber incident coverage, cyber reinsurance product development, cyber industry loss warranty, and cyber parametric.
• Marine and Aviation Reinsurance Marine and aviation reinsurance covering hull, cargo, specie, marine and energy liability, offshore energy, renewable energy, war/political risks, terrorism, aviation hull and liability, LMX whole accounts, and FMX whole accounts with US$20m marine capacity and US$20m aviation capacity.
• Climate & Resilience Climate and resilience risk transfer solutions working with humanitarian, public and private sector partners, covering agriculture (re)insurance, parametrics, risk pool reinsurance, sovereign and humanitarian disaster risk finance, and long-term project development.
• Specialty Reinsurance Specialty reinsurance covering wildfire liability, cyber, utilities, crisis management, accident and health, and financial risk across both short and long-tail classes.
• FloodXtra US personal lines flood product designed to help address the flood insurance gap, available to insurance carrier partners.
• Apex Fund Catastrophe bond fund launched January 1, 2024, generating returns by investing in cat and other ILS bonds worldwide with bi-monthly liquidity, focused on US peak perils.
• Diversified Fund Fund launched January 1, 2014, optimized to minimise downside with moderate long-term returns, targeting more senior layers of reinsurance diversified across perils and geographies.
• Select Fund Fund launched January 1, 2007, balancing downside management and return maximization with equity-like long-term returns, diversified across reinsurance programmes and perils but tilted to peak perils.
• Cadence Fund Fund launched January 1, 2020, optimized to maximize return per unit of risk with highest risk tolerance, leveraging Hiscox balance sheet to optimize capital efficiency.
• Quota Share Partnerships Fully aligned slice of Hiscox portfolio via rated paper and collateralised capacity, available since 2007.
• Sidecar Fully aligned slice of Hiscox portfolio accessible via dedicated special purpose vehicle structure, launched 2024.
• Syndicate 6104 Special Purpose Arrangement of Syndicate 33 benefiting from Lloyd's framework and capital efficiency, accessed directly or through London Bridge 2 structure, available since 2008.

Quantifiable outcome

• 10.0% annualised long-term return on natural catastrophe portfolio vs 9.3% expected mean over three decades
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SCOR SE: Global reinsurer with property cat, specialty, and ILS-linked strategies under SCOR Investment Partners. Directly comparable to Hiscox Re on reinsurance underwriting mix and ILS capital management via dedicated platform.
• Hannover Re: Top-5 global reinsurer with significant property cat and specialty exposure plus structured retro and ILS capabilities. Directly comparable to Hiscox Re on core underwriting classes, Bermuda/Lloyd's distribution, and capital partner structures.
• Munich Re: World's largest reinsurer by premium volume, offering property, specialty, and ILS-adjacent capital solutions. Directly comparable to Hiscox Re across property cat, specialty, and capital partner products, but at substantially larger scale and broader geographic footprint.
• Everest Group: Bermuda and US-domiciled global reinsurer with property, specialty, and casualty classes plus ILS activities. Comparable to Hiscox Re on Bermuda underwriting platform, property cat leadership, and specialty reinsurance expansion.
• Swiss Re: Global reinsurance leader with parallel offerings across property cat, specialty, cyber, and ILS through its Capital Partners platform. Directly comparable to Hiscox Re across underwriting portfolio composition and third-party capital management activities.
• Twelve Capital: Specialist insurance-linked asset manager offering cat bond funds, reinsurance collateral, and private ILS strategies to institutional investors. Comparable to Hiscox Capital Partners on ILS fund offerings and underwriting-aligned capital structures.
• Fermat Capital Management: Boutique ILS asset manager specialising in catastrophe bonds and reinsurance-linked investments for institutional clients. Directly comparable to Hiscox Capital Partners' cat bond fund (Apex) and broader ILS intermediation business.
• RenaissanceRe: Bermuda-headquartered specialty reinsurer with strong property cat franchise and a third-party capital management business (RenaissanceRe Capital Partners). Directly comparable to Hiscox Re on Bermuda platform, property cat focus, and capital partner vehicle structure.
• PartnerRe: Global multi-line reinsurer owned by Covéa, writing property cat, specialty, and casualty reinsurance with capital partner vehicles. Directly comparable to Hiscox Re across product mix, geographic distribution, and institutional capital intermediation.
• Nephila Capital (Man Group): Largest dedicated ILS investment manager with multi-billion AUM in catastrophe bonds, reinsurance sidecars, and weather/parametric products. Directly comparable to Hiscox Capital Partners on ILS fund management for institutional investors and cat bond investment focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/hiscoxcomms
• YouTubeyoutube.com/user/HiscoxGroup
• LinkedInlinkedin.com/company/hiscox
• Instagraminstagram.com/hiscoxinsurance

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hiscox Re & ILS