Hiscox Unveils London Market Division
Bermuda-based Hiscox Ltd. has established a separate London market insurance division, industry journal “Business Insurance” reported this week [Apr.23].
Hiscox said that Paul Lawrence has been named chief underwriting officer of the division. Mr. Lawrence also has been named joint active underwriter of Hiscox’s multiline Lloyd’s of London syndicate 33, it said.
Hiscox’s London market reinsurance division will continue to be headed by Russell Merrett, also joint active underwriter of syndicate 33, Hiscox said in a statement.
In addition, Mr. Lawrence, who most recently was head of property at Hiscox, will join the board of Hiscox Syndicates Ltd.
Hiscox said the separation of insurance and reinsurance lines will allow Mr. Lawrence to oversee the growth of the company’s business in property/casualty, marine and energy, aviation, space and specialty insurance.
A Bermuda-incorporated insurance provider, Hiscox is listed on the London Stock Exchange.
An underwriter at Lloyd’s of London, the company largely specialises in niche areas of the market, offering property and casualty insurance aimed at companies and high net worth individuals, as well as cover against such risks as hacking, kidnapping and satellite damage. The firm is a constituent of the FTSE 250 Index.
