New Head of Analytics and Research appointed for Hiscox in Bermuda

13th August 2012

Hamilton, Bermuda (13 August, 2012) – Dr Michael Palmer has been appointed as Head of Analytics and Research for Hiscox’s Bermuda operation. He will report to Damien Smith, Hiscox Bermuda’s Underwriting Director, and will take responsibility for the analytics team in Bermuda, helping to develop the company’s understanding of all aspects of catastrophe risk.

Having originally joined Hiscox’s London office in 2005 where he was Catastrophe Research Manager, Michael Palmer has a research background from Oxford University where he completed a PhD in atmospheric science, carrying out climate model experiments to investigate different aspects of climate change. This was followed up by post-doctoral work at the Rutherford Appleton Laboratory (Oxford, UK), investigating the impact of the tropical upper atmosphere on the weather experienced at the surface.

Commenting on Dr Palmer’s appointment, Damien Smith said: “Keeping on top of the strengths and weaknesses of the catastrophe models the industry uses is a fundamental part of helping us to select the risks we take and ensuring we achieve the right premium rating. Mike will be a great asset to us as we look to build a class-leading analytics team to support and drive the profitability of the company.”

Dr Palmer added: “Bermuda is an exciting place to be when it comes to the science of catastrophe risk and I am looking forward to building on the work that has already taken place here to support the management of our reinsurance portfolio, as well as looking for new opportunities in the market.”

ENDS

For further information, please contact:

Kylie O’Connor +44 (0)20 7448 6656 [email protected]
Sebastian St John Clarke +44 (0)7779 702191 [email protected]

Notes to editors

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. 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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