Hiscox
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The carrier hailed positive rating momentum in both the London market and the Re & ILS division. -
He joins the division during a period of growth, with GWP surpassing $1bn for the first time in 2022.
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Syndicate 33 also reported unrealised investment losses of $69.3mn in 2022, taking its total investment loss for the year to $43.2mn.
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The London-listed carrier has made several changes to its remuneration policy.
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The carrier said the initiative accelerates obtaining an entry-level underwriting licence by two-thirds.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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The property underwriter has also worked for Beazley and Liberty Mutual.
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The executive said the carrier had sufficient “dry powder” to expand in hard market conditions.
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The sub-syndicate will complement Hiscox’s existing portfolio, offering additional capacity to qualifying clients.
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The executive has worked at Hiscox since 1986, in roles including group CUO.
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The carrier reported a combined ratio of 90.6% despite losses from Hurricane Ian and Ukraine.
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The ILS expert had joined as a portfolio manager in 2018 from Ontario Teachers’ Pension Plan.
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