Changes to the Hiscox USA Management Team

New York (March 1, 2012) -- Hiscox (LSE:HSX), the international specialist insurer, today announced that it has made a number of changes to its US Management Team, appointing a new CEO and Chief Underwriting Officer for Hiscox USA.

Richard Watson, current CEO of Hiscox USA, will be returning to the UK as Deputy Chief Underwriting Officer for the Group at the end of his three year term in the US. Ben Walter, current COO of Hiscox USA has been promoted to CEO effective 1 April 2012. Before joining Hiscox in 2011 Ben worked with a variety of global brands, most recently at BlackRock/Barclays Global Investors where he was Managing Director of Strategy and Corporate Development. Prior to this he worked at Boston Consulting Group, Gap Inc. and Continental Airlines. He holds an MBA from Northwestern’s Kellogg School of Management.

Gary Head will join the US Management Team as Chief Underwriting Officer (CUO) effective May 1. Gary joined Hiscox in 1996 and is currently Chief Underwriter of Hiscox UK. In this position, he has been instrumental in building the firm’s market leading position in the Professions and Specialty Commercial area across the UK and Europe.

Bronek Masojada, Chief Executive of Hiscox said: “In his short time at Hiscox Ben has demonstrated great leadership, implementing significant changes in our operations for the benefit of brokers and customers, and it gives me great pleasure to promote him to CEO. The US Management Team is also now bolstered by the legendary underwriting expertise of Gary Head. I know these changes will help Hiscox USA maintain their momentum in building a profitable and respected insurance business.”

About Hiscox

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.

For further information, visit

Hunter Hoffmann

Head of US Communications

Hiscox USA


T + 1 646 442 8341

M + 1 917 208 9460

Email [email protected]





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