Hamilton, Bermuda (3 November, 2011) – Damien Smith* has been appointed as Underwriting Director - Executive Vice President, for Hiscox’s Bermuda reinsurance business.
Reporting to Charles Dupplin, Hiscox Bermuda’s CEO, Damien Smith joined Hiscox in 1994 and has held a variety of (re)insurance roles for the company, most latterly as Head of Non-Marine Treaty. In Bermuda he will be responsible for managing Hiscox’s reinsurance team of over 40 people, focused on external property treaty reinsurance as well as specialist lines to the wider Hiscox Group.
Commenting on Damien Smith’s appointment, Charles Dupplin said: “We are at an interesting stage of the reinsurance cycle with the market poised to move further off the back of this year’s catalogue of catastrophes. As ever, we will be focused on maintaining a disciplined underwriting approach and Damien is a very welcome addition to our strong reinsurance team here in Bermuda. I am confident that he will lead the team to continued success and profitability; delivering the world class service that our brokers and clients expect.”
Damien Smith added: “It is a challenging reinsurance market set against a backdrop of poor investment returns and uncertainty in the global economy. While we have seen property rates turn and the new RMS models likely pushing up reinsurance demand, underwriting discipline will continue to be key.
“I believe that Bermuda will continue, despite growing competition elsewhere, to play an integral role as the largest reinsurance market in the world. I am looking forward to working with a fantastic team of talented people at Hiscox Bermuda and, following 17 years of life in London, the short commute and wonderful weather.”
*A high-res picture is available upon request.
For further information please contact:
+44 (0) 20 7448 6656
Sebastian St John Clarke
+44 (0) 7779 702191
Notes to editors
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.
For further information, visit www.hiscox.com
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