Hiscox
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Despite a somewhat mixed outlook, UK listed carriers London players say they are still leaning into growth. -
Helen Rose will start in February 2022, reporting to Hiscox London Market CEO Kate Markham.
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The executive said excess profits in the London market and reinsurance could be used to invest in retail opportunities.
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Analysts noted that large losses were benign but rates were earning through and should continue to improve.
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The carrier had a strong underwriting performance in the London market and reinsurance as Covid-19’s impact receded.
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After 10 years, the senior executive is departing – just one week after his colleague Aki Hussain was confirmed as successor to CEO Bronek Masojada.
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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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