Hamilton, Bermuda (8 February 2018) - Hiscox Ltd (LSE: HSX) today announces two senior appointments, subject to regulatory and immigration approvals, as the Group evolves its management structure to build on growth momentum in its retail businesses.
Ben Walter, CEO of Hiscox USA, will relocate to London to take up the newly created role of CEO Hiscox Global Retail, with effect from 1 July 2018. Ben will lead the Group's retail operations, including Hiscox UK & Ireland, Hiscox Europe, Hiscox USA and Hiscox Special Risks. Ben will focus on driving product innovation and growth across the Group's retail operations, where Hiscox sees plenty of opportunity.
Steve Langan, CEO of Hiscox UK & Europe, will relocate to New York to take up the role of CEO Hiscox USA, also effective from 1 July 2018. Continuing to build the Hiscox brand and presence in the US market will be critical to its success. Steve will focus on driving Hiscox USA's next phase of growth, drawing on his experience of building retail brands around the world, both at Hiscox and previously at Diageo and Coca Cola. Steve will also remain Chief Marketing Officer for the Group.
Bronek Masojada, Hiscox Group Chief Executive Officer, commented: "Hiscox's growth in retail markets, particularly over the last 10 years, has changed the shape of our business. We are no longer a Lloyd's player with retail operations on the side, and as our business evolves we need to be able to respond to the huge opportunity ahead.
"Our retail businesses span 12 countries and are at different stages of their journey, but they share similar challenges and opportunities such as brand building, leveraging scale and digitisation. These appointments will help us continue on our path of building a Group which can thrive at all stages of the insurance cycle."
Both Ben and Steve will remain on the Executive Committee and Hiscox will begin the process of recruiting a new UK & Ireland CEO in the autumn.
For further information:
|Marc Wetherhill, Group Company Secretary||+1 441 278 8321|
|Kylie O'Connor, Head of Communications||+44 (0) 20 7448 6656|
|Tom Burns||+44 (0)20 7404 5959|
|Simone Selzer||+44 (0)20 7404 5959|
Notes to editors
About Ben Walter
Ben Walter is Chief Executive Officer of Hiscox USA, the global specialist's US division, which offers a wide range of specialty commercial products. He has led the business for the past five years as it experienced consistent high growth and achieved profitability.
Ben joined Hiscox in early 2011 from BlackRock where he was a Managing Director for the asset manager. Prior to that, he held roles at Gap Inc., the Boston Consulting Group, and Continental Airlines.
Ben has an MBA from Northwestern's Kellogg School of Management and a BA from Washington University in St. Louis.
About Steve Langan
Steve Langan joined Hiscox in 2005 after a highly successful marketing and management career with Diageo, Coca-Cola, Nestlé and Bass Brewers in the UK, Europe and South America.
As MD of Hiscox UK & Ireland, Steve transformed the UK business from a name only known in the City to the UK's most trusted general insurer and a nationally known and respected brand. Over the past three years the Hiscox brand has been successfully launched in the USA and France under his leadership.
Since 2013, Steve has led the UK & Ireland and Europe businesses as a combined entity and from 2014-7 he was also CEO of the Direct Asia Group following its acquisition.
Prior to joining Hiscox Steve worked at the world's number one drinks company Diageo, where he held the position of Managing Director of the company's Italian subsidiary, based in Turin, for three years. He has also held senior marketing and commercial positions with Diageo Ireland and The Coca Cola Company.
Steve is a history graduate of Glasgow University and a Fellow of the Marketing Society.
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 2016 helped generate gross premiums written of £2,402.6 million and a record profit before tax of £354.5 million.
The Hiscox Group employs over 2,700 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia 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 & ILS.
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.
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