Hamilton, Bermuda (2 May 2017) – Specialist global insurer Hiscox (LSE:HSX) has announced the appointment of Adam Szakmary as Director of Underwriting for Hiscox Insurance Company Bermuda, subject to immigration and regulatory approval. Adam replaces Damien Smith, who is returning to London after six years in Bermuda to become Head of Specialty for Hiscox Re.
Adam will join the Hiscox Re Executive team, the Underwriting Leadership Team as well as the Board of Hiscox Insurance Company Bermuda. He will report to incoming CEO of Hiscox Re and ILS Mike Krefta. Adam will be responsible for our underwriting activities in Bermuda including the internal reinsurance for the Group. Adam will start in October once his notice period is complete.
Adam joins from Sompo International’s asset management platform, Blue Capital Management Limited. He initially joined Montpelier Re, the former parent company of Blue Capital, in a terrorism underwriting and risk analytics role later becoming a founding executive of their Lloyd’s platform where he developed their international property risk book, before going on to underwrite their US property catastrophe book and take on a group-wide role focused on enterprise risk management. In 2012 he moved internally to start up Blue Capital as the founding Portfolio Manager and then in 2015 became CEO and Director of the platform.
Damien is one of Hiscox’s most experienced underwriters, having worked across most reinsurance lines during his more than 20 years with the Group. Specialty reinsurance is a growth area within Hiscox Re and Damien’s appointment will further bolster the team, which already includes Jonathan Lord in London and Devin Page in Bermuda.
Mike Krefta said: “We are delighted to add Adam’s experience and skills to Hiscox Re. His expertise in building businesses and in specialty underwriting will be invaluable as we continue to develop our reinsurance offering.”
For further information please contact:
Lucy Hensher +44 (0)20 7448 6619 [email protected]
Notes to editors
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle. It’s a long-standing strategy which in 2016 helped generate gross premiums written of £2,402.6 million and a record profit before tax of £354.5 million.
The Hiscox Group employs over 2,300 people in 13 countries, and has customers worldwide.
Through the retail businesses in the UK, Europe and the US, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re and ILS.
Our values define our business, with a focus on people, quality, courage and excellence in execution. We pride ourselves on being true to our word and our award-winning claims service is testament to that.
For more information, visit www.hiscoxgroup.com.
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