Hiscox
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The pandemic has underscored the strength of Lloyd’s trading resilience and shown the market’s ability to thrive in a digital environment, according to Hiscox CEO Bronek Masojada.
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The carrier reserves $47mn for Storm Uri but says the overall claims experience was positive.
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The recruitment comes after several exits from Hiscox’s liability team.
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Kevin Kerridge takes over from Steve Langan, who will retire later this year.
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Mary Margaret von Herberstein will work on relationships with quota-share capacity providers.
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Both have worked at Hiscox cumulatively for nearly a decade and are the latest Hiscox executives to join the business.
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The executive replaces Stéphane Flaquet in the role.
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The carrier has been replenishing its team following departures last year.
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The equity research firm cuts its EPS forecasts for the carrier but lifts the share price target.
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A direct P&C turnaround and a narrowing of the loss in the scaled-back reinsurance division are eclipsed by hefty contingency losses within the specialty division.
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Hiscox’s decision to adjust its exposure in US casualty retail classes has been welcomed by analysts, who nevertheless warned that it will slow the carrier’s recovery.
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Isha Patel has worked at the carrier since 2013 and was previously area director of the south.
