Hiscox Appoints Alex Veys as Chief Investment Officer

HAMILTON, Bermuda, Oct. 25 -- Hiscox, an insurance provider, issued the following news release:

Specialist global insurer Hiscox (LSE:HSX) announces the appointment of Alex Veys as Chief Investment Officer. Alex will take over the position from David Astor, who is retiring in 2018 after 15 years at Hiscox.

Alex has more than 30 years' experience in financial services and investment management, most recently at LV=, where he was a Senior Investment Advisor who led the development of the organisation's Responsible or Ethical Investment policy, as well as advising on risk management and capital.

From 2010-2016, Alex was the Chief Investment Officer of Partnership Assurance, where he oversaw a period of significant asset growth from Pounds1 billion to Pounds6 billion and was part of the senior management team that prepared the business for its flotation on the London Stock Exchange in 2013. Previously, he was a Senior Portfolio Manager at Fidelity Investments.

Hiscox Group Chief Financial Officer Aki Hussain said: "Alex brings a wealth of experience in managing large and complex asset portfolios drawn from over 30 years in investment management. He has a history of delivering strong and efficient performance in his funds and will be an able custodian of the Group's assets."

On David Astor's retirement, Hiscox Group Chief Executive Officer Bronek Masojada said, "I would like to thank David Astor for his contribution to Hiscox over the last 15 years, during which he has overseen asset growth from Pounds0.6 billion to Pounds4.4 billion and delivered consistently strong investment returns. David has been a safe pair of hands during periods of economic uncertainty and a valued member of our senior management team."

Alex will join Hiscox in December and will work alongside David until his retirement in July 2018.