Hiscox's Panther Re Sidecar not renewed for 2008 - 12.10.07

Panther and Hiscox Syndicate 33 ("Syndicate 33") announced today that they "have agreed that the successful reinsurance partnership between Panther and Syndicate 33 covering the 2007 year of account will not be renewed for the 2008 year of account.

Syndicate 33 expects that some of the business previously ceded to Panther will be retained for its own account, some will be ceded to other re-insurance
partners and some risks will not be renewed.

Hiscox is delighted to have been involved in the first Lloyd's sidecar and looks forward to using similar innovative risk financing approaches in the future".  The full press release is attached.

To see the full report click here