London, UK (26th September 2016): Specialist global insurer Hiscox has announced the promotion of Matt Webb to its newly created role of Group Head of Cyber.
Matt began his career at Hiscox over 10 years ago, joining the business as a Contingency Underwriter. Following roles in Professional Indemnity for technology companies, Matt specialised in cyber insurance – most recently working as Head of Technology, Cyber and Data Underwriting for Hiscox UK and Ireland.
The newly created role of Group Head of Cyber will report to Hiscox’s Group Chief Underwriting Officer, Richard Watson, and will be responsible for developing the Group’s cyber strategy and managing cyber risk exposure. Given the insurer’s long history of underwriting cyber risk and desire for growth in this area, this new role will be key to our response to the changing nature of cyber risk.
Commenting on the appointment, Richard said: “Matt’s experience in this line of business, which includes a track record of strong product innovation, means he will be invaluable in helping us make the most of the opportunity and leveraging our history and brand in this area.”
Matt added: “My first responsibility will be to evolve the Group’s cyber strategy; building on our reputation and leveraging our deep expertise. Key to this role is working across all our business units to improve collaboration and manage our global exposure.
“In today’s technology-driven environment, virtually every business is at risk to both internal and external cyber threats, and breaches are only becoming bigger and more costly. We need to ensure we are maximising the upside whilst understanding and monitoring the downside.”
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About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle. It’s a long-standing strategy which in 2015 helped generate gross premiums written of £1,944.2 million and a profit before tax of £216.1 million.
The Hiscox Group employs over 2,200 people in 13 countries, and has customers worldwide. Through the retail businesses in the UK, Europe and the US, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re.
Our values define our business, with a focus on people, quality, courage and excellence in execution. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.