Ετικέτα: Hiscox

Aki Hussain to succeed Bronek Masojada as Group Chief Executive on 1st January 2022

Specialist global insurer Hiscox announces today that after 21 years as Group Chief Executive, Bronek Masojada has informed the Board of his intention to retire at the end of the year. Following a thorough succession process, the Board is delighted to announce that it has appointed Aki Hussain, currently Group Chief Financial Officer, as Group Chief Executive from January 2022, subject to regulatory approval.
Robert Childs, Hiscox Group Chairman, commented: “I would like to thank Bronek for his outstanding contribution to the Hiscox Group. His energy and passion to move the business forward has resulted in three decades of strong growth and transformed Hiscox into a leading diversified specialist insurer with a great future ahead of it.
“We are delighted that Aki will be our new CEO and the Board were unanimous in endorsing this appointment. Aki’s ambition, drive and knowledge of the Hiscox Group, combined with his many years’ experience delivering for a variety of financial services organisations, makes him well placed to capture the many opportunities ahead.” 
Bronek Masojada, Hiscox Group Chief Executive Officer, commented: “It has been an incredible privilege to lead Hiscox and be part of its journey over the last 28 years. The business is on a very strong footing with market conditions the best we have experienced for many years and the time is right to hand over to new leadership. I have worked closely with Aki for the last five years, and his impressive banking, telecoms and media experience make him a great choice to lead the business. 
“I look forward to delivering our half year results on the 3rd of August and building on the strong performance we set out in the Q1 trading update.”
Aki Hussain, Hiscox Group Chief Financial Officer, commented: “I am honoured to be taking over the leadership of this dynamic company. I am excited about the long term potential of our business, we have exceptional talent, a market leading position and a strong balance sheet. 
“I would also like to thank Bronek for getting us here. The Group’s strategy of balance and diversification creates opportunities across all our business divisions. In big-ticket lines where rates are hardening, we have market-leading operations with decades of underwriting pedigree, while our long-term investment in digital trading means we are well poised to benefit from the explosive opportunity in retail.”
Bronek will remain in place until the end of the year allowing for a smooth transition while a search for a new Group CFO is conducted.
Aki’s appointment followed a full and independent process led by the Nominations and Governance Committee, supported by a leading search firm. This involved a global search and the assessment of internal and external candidates.

Bronek Masojada
After working for McKinsey & Co, Bronek joined in 1993 as Managing Director when Hiscox was a Lloyd’s underwriter, with fewer than 200 people in one location. Hiscox listed on the London Stock Exchange in 1995 with a market cap of £150 million. Bronek was appointed CEO in 2000 and by 2020, mainly through sustainable, organic growth Hiscox had become a balanced international insurance Group with a market cap of around £3 billion. During his tenure Hiscox has pursued a diversification strategy, and established itself as a leading multi-market, multi-channel insurance and reinsurance company. Under Bronek’s leadership, Hiscox has built leading digital insurance businesses in the UK, US and Europe which now account for nearly $600 million of gross written premiums. Throughout his career he has championed the modernisation of the insurance industry, serving as Deputy Chairman of Lloyd’s, President of the Insurance Institute of London and Master of the Worshipful Company of Insurers. He has been on the Board of the Association of British Insurers since 2012. He is currently Alderman for the Ward of Billingsgate in the City of London.
Aki Hussain
Aki joined Hiscox in 2016 as Chief Financial Officer for the Group. He was appointed to the Hiscox Board in 2016 and is also Chair of Hiscox Re & ILS. He is responsible for ensuring the Group’s ongoing capital strength, overseeing the Group’s investment portfolio of $7.63 billion and leading a team of 250 finance experts across multiple geographies. Recently, Aki successfully delivered a complex, multi-year finance transformation programme to overhaul outdated legacy systems and vastly improve financial insight and reporting across the Group.
Aki has over 15 years of financial services experience gained across insurance, accounting and banking. Prior to joining Hiscox, he was Chief Financial Officer of Prudential plc. UK & Europe. He has also held a number of other senior roles in the financial services, media and telecoms sectors, serving as Finance Director for the Consumer Bank division at Lloyds Banking Group, and Finance Director for the Consumer division of NTL (now Virgin Media).
Aki is also a Chartered Accountant, having trained with KPMG. Aki has a BA degree in Accounting and Finance from the University of Leeds, an ACA from the Institute of Chartered Accountants in England and Wales and is a Fellow of the ICAEW.  In addition, he serves as an Independent Non-Executive Director and Audit Committee Chair at Visa Europe Limited.

Hiscox USA Appoints Fiddler as Chief Marketing Officer

Regine Fiddler has been appointed chief marketing officer for insurer Hiscox in the U.S. Fiddler, who previously served as the chief marketing officer and head of Product at BankMobile, will report to and succeed Russ Findlay, who was promoted to the role of Group chief marketing officer earlier this year.
Fiddler will be based in New York.
Prior to working at BankMobile, Fiddler served as vice president of Product Development and Brand Management at Higher One before it was acquired by BankMobile. She started her career at Newell Rubbermaid, a consumer packaged goods company.

Hiscox appoints James Millard as new Chief Investment Officer

Specialist global insurer Hiscox today announces the appointment of James Millard as its new Chief Investment Officer for the Group.
James will be responsible for overseeing the management of its $6.4 billion of assets, implementing overall investment policy and directing all portfolio management, research, trading and strategy. He will be based in London and report to Aki Hussain, Group Chief Financial Officer.
James has a wealth of experience across investment management, most recently at Aberdeen Standard Investments (ASI) where he held the post of Co-Head of Multi-Manager Strategies, overseeing the management of £27 billion of assets. Previously, he was Chief Investment Officer at Skandia Investment Group until its merger with Old Mutual Asset Managers, where he became Director of Investments and a member of the executive management team of Old Mutual Global Investors.
Aki commented: “James’ track record of success in managing large, diverse investment portfolios across multiple asset classes makes him an excellent addition to our business. His results-oriented approach is in line with the strengths and discipline of our investment team. I look forward to working with him to deliver our investment strategy.”

Hiscox CUO Richard Watson steps down after 33 years

Specialist insurer Hiscox’s chief underwriting officer (CUO) Richard Watson is stepping down from his position after 33 years with the carrier.
Watson will step down from the board of Hiscox on December 31, 2019 and will continue as an advisor and serve on subsidiary boards.
Hiscox said a successor will be announced following a review of internal and external candidates.
Watson joined Hiscox in 1986, having previously worked for Sedgwick and Hogg Robinson. He was appointed managing director of Hiscox Global Markets in 2005, and the underwriter of Syndicate 33 from 2006 to 2009. In 2009, Watson moved to New York and served as the chief executive officer for Hiscox USA for three years. He returned to London in 2012 and became CUO for the Hiscox Group.
Bronek Masojada, group chief executive, said: “Richard’s instinct, determination and straightforward approach epitomises the underwriting culture that lies at the heart of Hiscox. He has steered us through a period of profound change in the rating environment and developed a first class underwriting function in the Group.
“Prior to becoming Chief Underwriter, Richard’s career has encompassed multiple lines of business in insurance and reinsurance culminating in becoming CEO of Hiscox Global Markets before moving to serve as CEO of Hiscox USA during its formative years. Richard’s occasionally gritty contributions to our strategic conversations made us address issues we might otherwise have preferred to overlook. He has served with distinction and can be extremely proud of his contribution and legacy.”
Robert Childs, chairman, added: “I have thoroughly enjoyed working with Richard during his tenure at Hiscox and would like to thank him for his outstanding contribution. As a Board member for the last five years, we have benefited greatly from his experience and judgement and we are pleased that he will continue to serve as Chairman of Hiscox Re & ILS and on the board of Hiscox Syndicates Ltd. All of us on the Board, and throughout the Company, wish him every success for the future.”
Watson said: “After 33 years I feel the time is right for me to retire. I am extremely proud of the business we have built and the talented team I leave behind. When I first joined the company, we were fewer than 30 people underwriting around £80 million. Today we are global specialist insurer with operations in Retail, Global Speciality and Reinsurance. Hiscox has a strong position in the market and plenty of opportunity ahead. I am grateful to Robert and Bronek for all their support, I look forward to serving Hiscox in a more non-executive role, and I will continue to take a keen interest as a shareholder.” 
Source: intelligentinsurer