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Anticipating market turn, Hiscox to increase capacity by $2 billion

Posted On: Oct. 12, 2017 4:00 AM CST

Bermuda-based insurer and reinsurer Hiscox Ltd. plans to increase its stamp capacity by 40% by deploying more than $2 billion through its Syndicate 33 at Lloyd's of London in 2018, reports. "The increase in capacity is driven by an anticipated improvement in market conditions and a desire to have sufficient capacity available to participate in a widespread market turn," Hiscox said. "This follows a period of significant catastrophe activity in the year in which more than $100 billion of industry capital is estimated to have been destroyed," the insurer added.

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