London, UK (10 July 2013) – Specialist insurer Hiscox today announces four new appointments within Hiscox Re, the newly combined reinsurance business operating from London, Paris and Bermuda.
The following appointments will join Hiscox Re CEO, Jeremy Pinchin, on the Hiscox Re executive team:
- Damien Smith becomes Director of Non Marine Underwriting for Bermuda, and will retain his role as Director of Underwriting for Hiscox Bermuda.
- Mike Krefta becomes Director of Non Marine Underwriting for London. Mike will also be Head of North American Underwriting and will chair Client Strategy for our larger North American partner clients.
- Ben Love becomes Head of Client and Broker Strategy, managing broker and client strategies and operating models. Ben will chair Client Strategy for Global clients and continue to manage Quota Share relationships.
- Michael Jedraszak becomes Director of ILS, overseeing Hiscox’s strategy and planning around ILS. Michael will retain key strategic influence in our international business until a new Head of International in London is recruited.
Russell Merrett, Head of London Market Reinsurance, is currently on sabbatical and was expected to return in August to become Chief Underwriting Officer for Hiscox Re. Russell has requested an extended leave and will now return to Hiscox next May to another senior role. Due to regulatory requirements Russell will also step down as Joint Active Underwriter for Syndicate 33. Richard Watson, Group Chief Underwriting Officer, will provide support while the recruitment process for a permanent Hiscox Re CUO gets underway.
Bronek Masojada commented: “These appointments are an important step on our journey to consolidate and then grow our reinsurance operations, which have been a mainstay of the Group for many years. Russell has been the cornerstone of this reinsurance business for over a decade, so I am happy to be able to support him in taking time out to chase some personal dreams and recharge his batteries. ”
Hiscox Re draws existing Hiscox reinsurance functions in London, Paris and Bermuda together in a single business unit. The structure will provide tailored consultancy, faster underwriting decisions with bigger line sizes to key clients.
For further information please contact:
Kylie O’Connor +44 (0) 20 7448 6656 Kylie.O’[email protected]
Notes to editors
Hiscox, headquartered in Bermuda, is an international specialist insurance group 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 mainly 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.
For further information, visit www.hiscox.com.
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