Hamilton, Bermuda (22 April 2013) -- Hiscox (LSE:HSX), the international specialist insurer, today announced changes to its Hiscox London Market business and Syndicate 33.
Paul Lawrence will become Chief Underwriting Officer of Hiscox London Market Insurance, a newly created division, and joint Active Underwriter of Syndicate 33 alongside Russell Merrett. Russell will continue leading the London Market Reinsurance business and Paul will join Russell on the Board of Hiscox Syndicates Limited. Paul’s appointments are subject to regulatory approval.
This separation of insurance and reinsurance product lines will allow Paul to oversee the growth and development of the London Market Insurance lines (Property, Casualty, Marine & Energy, and Aviation, Space & Specialty). Hiscox is exploring how its London and Bermudian reinsurance teams can work more closely together (while operating within requisite regulatory, legal and tax frameworks) to take advantage of market opportunities. Hiscox aims to have a new reinsurance structure in place in time for the January 2014 renewal season.
Paul Lawrence has worked at Hiscox since 1992, most recently as Head of Property but also within the personal accident, contingency, fine art, classic cars, UK and European household teams.
Sasa Brcerevic will also join our London Market Insurance team in June as Chief Operating Officer. Sasa will move from his current role as Head of Field for Hiscox USA. In his new role, Sasa will be responsible for the non-underwriting functions of this business including claims, HR, operations and IT as well as insurance broker relations. Sasa joined Hiscox in May 2011, prior to this he worked for the Boston Consulting Group.
Bronek Masojada, Hiscox Chief Executive, commented: “The changes we are making within the London Market business are designed to help us develop greater client focus and respond with speed to market opportunities. Paul has shown great leadership and discipline while navigating our Property division through tough trading conditions, skills that will help him take our London Market Insurance lines to the next level.
“Sasa Brcerevic is an excellent addition to our London Market team and brings with him great strategic thinking and detailed knowledge of the US insurance market.”
Ends
For further information please contact:
Hiscox Ltd
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Jeremy Pinchin |
+1 (441) 278 8300 |
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Kylie O’Connor |
+44 (0) 20 7448 6656 |
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Lucy Hensher |
+44 (0) 20 7447 6619 |
Notes to editors
About Hiscox
Hiscox, headquartered in Bermuda, is an international specialist insurance group 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 mainly 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 www.hiscox.com
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