Hiscox
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The insurer’s reinsurance and ILS business is “performing strongly,” said outgoing CEO Bronek Masojada. -
The reinsurer had previously signalled it would grow its net reinsurance portfolio after deploying less third-party capital.
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Masojada will retire at the end of this year after 21 years and be replaced by Hussain at the beginning of 2022.
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He worked for eight years at the French firm, where he oversaw the strategic direction of its ILS business.
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The reinsurer’s net exposure was up 36% as it retained more risk in retro and North American cat.
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Mary Margaret von Herberstein will work on relationships with quota-share capacity providers.
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The executive had previously worked on Montpelier’s Blue Capital before his four-year stint at Hiscox Re.
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The firm reported a $100mn drop in ILS AuM to $1.4bn, although previously had said deployable capital was lower.
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The court’s decision was the final step in a protracted legal battle stretching back to May last year.
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But Barclays warns the judgment could result in more substantial loss creep for major European reinsurers.
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The start-up's reinsurance division will target cat and retro business as well as a selection of specialty lines.
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Significant start-up moves this month included Kathleen Faries and Julia Henderson joining Lavant and Piers Cantlay signing up to join McGill.
