Hiscox Announces Leadership Changes within Hiscox Re & ILS, Hiscox Bermuda

LONDON, Dec. 1 -- Hiscox, an insurance provider, issued the following news release:

Specialist global insurer Hiscox today announces 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. 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."

Michael joined Hiscox 13 years ago as an analyst for Hiscox UK before moving into the catastrophe modelling team and spending the last 11 years in various roles within reinsurance. When Hiscox Re was formed in 2013, Michael was appointed Director of Non-Marine Underwriting, and in 2014 he was appointed Hiscox Re's Chief Underwriting Officer, at the same time serving as joint active underwriter of Syndicate 33 and active underwriter for Syndicate 6104.

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 2015 helped generate gross premiums written of Pounds1,944.2 million and a profit before tax of Pounds216.1 million.

The Hiscox Group employs over 2,200 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.

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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