Hiscox
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The firm has lost some of its sheen, and its CEO-elect has key challenges to address, including how to balance its twin-engine retail and big-ticket businesses.
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Some observers questioned whether Hiscox would have benefitted from the bigger shake-up of an external hire.
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Masojada will retire at the end of this year after 21 years and be replaced by Hussain at the beginning of 2022.
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Analysts believe 2021 will be a “transition year” for Hiscox, Beazley and Lancashire.
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The company finds itself at a crossroads as it considers its choice of new leadership.
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Leisure broker NDML said the settlement was an ‘initial figure’, with more claims yet to be finalised.
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A departure in the spring now seems likely, with Hiscox Global Retail CEO Walter and CFO Hussain internal candidates for the top job.
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The Financial Conduct Authority’s latest release on UK claims data for Covid-related BI losses shows an acceleration of acceptances during June.
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Markel, Beazley, Hiscox, Chaucer, Brit and Liberty Specialty Markets are all participants in the product development.
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He worked for eight years at the French firm, where he oversaw the strategic direction of its ILS business.
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The London-listed carrier has paid 384 claims of £49,000 each on average.
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Staff displacement has been high in the D&O market after a period of dramatic rating adjustment in 2020.
