Hamilton, Bermuda (16 October, 2013) – Specialty insurer Hiscox has announced further expansion in their non-property catastrophe business. Based in Bermuda and led by Ian Thompson, the Casualty team will expand on Hiscox’s existing healthcare products with the addition of further casualty treaty lines. As part of the expansion, Nicholas Pascall (Senior Vice President) and Sharmini Samuels (Assistant Vice President) will join the team.
Hiscox’s Bermuda Casualty team will focus on several core lines including healthcare, directors’ and officers’, errors and omissions, workers’ compensation, and excess casualty. The new casualty treaty lines will bring further diversity to Hiscox’s existing book of property treaty reinsurance and healthcare insurance and reinsurance products.
Nick Pascall joins, pending immigration approval, from American Safety Re (Bermuda) where he was the Chief Underwriter leading a team in both Bermuda and London covering US casualty and specialty lines. His prior roles include Head of Casualty at Catlin Insurance Company Ltd (Bermuda) where he started Catlin’s Bermuda treaty account, as well as roles for CNA Re (Chicago) and CNA Re (London).
Sharmini Samuels is a Bermudian and will also be joining Hiscox from American Safety Re (Bermuda), where she is a Casualty Treaty Underwriter, covering casualty lines including medical malpractice, lawyers’ E&O, workers’ compensation and excess casualty.
Commenting on the expanded Casualty division, Jeremy Pinchin, CEO for the Hiscox Bermuda business unit, said: “Since establishing our operation here in Bermuda we’ve sought to bring in a level of diversification to balance our property treaty reinsurance portfolio. This has been achieved very successfully with the growth of our healthcare book under the leadership of Ian Thompson. Our expansion into additional casualty treaty lines represents a natural progression for Ian and his team.”
Ian Thompson, who heads up the Bermuda casualty team, added: “The addition of Nick and Sharmini to our team will allow us to build our casualty product offerings and, in particular, ensure we achieve a good level of diversity. I’m excited about the opportunity we have to build on our existing healthcare book with the development of a well diversified casualty treaty portfolio.”
Nick Pascall commented: “Hiscox has built an international reputation on its ability to deliver innovative and market leading property reinsurance products and services. The opportunity to help establish a similar reputation across casualty treaty lines is an exciting prospect for me and I look forward to working with Ian and the team.”
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Notes to editors
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.
For further information, visit www.Hiscoxgroup.com
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