Leadership Changes For Hiscox Bermuda
Specialist global insurer Hiscox announced leadership changes within Hiscox Re and ILS, and Hiscox Bermuda.
Jeremy Pinchin, Chief Executive Officer of Hiscox Re and ILS, and Chief Executive Officer of Hiscox Bermuda, is to return to London next year, and Michael Krefta will be appointed into the Bermuda-based roles with effect from 1 August 2017, subject to regulatory and immigration approvals.
“Michael currently serves as Chief Underwriting Officer of Hiscox Re, and in his new leadership role will be based in Bermuda and report to Group Chief Executive Officer Bronek Masojada,” the company said.
“He will also join the Hiscox Executive Committee. Michael will succeed Jeremy Pinchin who, after five years in Bermuda, will step down from his Bermuda-based roles to return to London, where he will continue in his role as Hiscox Group Claims Director and as a member of the Hiscox Executive Committee. He will also join the Board of Hiscox Special Risks.
Bronek Masojada commented: “Throughout the recent transformation of our reinsurance business, Michael has expertly guided the underwriting integrity that is so attractive to our third party supporters, while instituting a more commercial approach in our underwriting. I look forward to working closely with Michael as he leads the business through its next phase of growth, particularly as our ILS business grows in significance with now more than US$1 billion AUM.”
He added: “Jeremy has had a huge influence on the evolution of our Bermudian operation. It is under his leadership that Hiscox Re was not only created but has since successfully navigated a turbulent reinsurance market. He also initiated the creation of Kiskadee Investment Managers, our ILS fund manager, and evolved our approach to product innovation, with repeated success.
“In returning to London, I am confident our Group claims function will continue to benefit hugely from his leadership. I am delighted that he will also join me on the Board of Hiscox Special Risks, which underwrites over half of the world’s specialist corporate protection insurance premium, and has led the development of this market for more than two decades.”
