Hamilton, Bermuda (21 October 2020) – Hiscox Ltd (LSE:HSX), the international specialist insurer, is pleased to announce the appointment of Kathleen Reardon as CEO of Hiscox Re & ILS, subject to regulatory approval. Kathleen will succeed Mike Krefta, who as we announced in August will be stepping down in early 2021.
Most recently Chief Executive Officer of Hamilton Re, Kathleen spent her early career at ACE in a variety of actuarial and underwriting roles, rising to Chief Underwriting Officer for International Property at ACE Tempest Re in 2005, based in Bermuda. Kathleen joined Hamilton Re in 2013 as Chief Underwriter (Property), and was appointed CEO in 2014, a post she held until 2020.
Kathleen is a Fellow of the Casualty Actuarial Society, served in 2020 as the Chair of the Reinsurance Association of America, and is the former Chair of Women in Reinsurance – an organisation she co-founded. She has a Bachelor of Science in Mathematics from Drexel University, Philadelphia, and currently serves on the Drexel University Board of Trustees.
Kathleen’s incredible depth of knowledge and presence in global reinsurance, alongside her proven leadership skills in building businesses across the cycle will be invaluable to the Group. Kathleen will sit on the Group Executive Committee and will be based in Bermuda, leading Hiscox’s Reinsurance and ILS teams which operate from Bermuda and London.
Bronek Masojada, Hiscox Group CEO, said: “Kathleen brings the market knowledge and leadership skills we need to ensure that Hiscox Re & ILS can take advantage of a hardening market and deliver good returns to our reinsurance partners, ILS investors, and shareholders. She will also ensure our offering to cedents evolves as the market evolves. I look forward to working with her and benefiting from her fresh perspective.
“I would also like to thank Mike Krefta our current CEO of Hiscox Re & ILS. Mike joined in 2003 as a management information analyst and rose through the ranks to become CUO and then CEO for the last four years. Through his underwriting expertise, energy and commitment, Mike has made an impressive contribution to Hiscox. This includes Mike’s efforts as Executive Sponsor for our ESG commitments, he has passionately brought together activities from across the Group to form a comprehensive plan gaining the support of the Board, colleagues and external stakeholders. He leaves with our very best wishes for the next chapter.”
Ends
For further information:
Hiscox Ltd
Marc Wetherhill, Group Company Secretary, Bermuda +1 441 278 8321
Kylie O’Connor, Group Communications Director, London +44 (0)20 7448 6656
Ryan Thompson, Investor Relations Manager, London +44 (0)20 7448 6522
Brunswick
Simone Selzer +44 (0)20 7404 5959
Notes to editors
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.
The Hiscox Group employs over 3,400 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, 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, courage, ownership and integrity. 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.
Hiscox response to COVID-19
Hiscox is committed to supporting the international response to this pandemic. The Group is supporting employees around the world with flexible and remote working as well as socially distanced office working and the provision of mental health and wellbeing services. Wherever possible operations have been reorganised to deploy more employees to provide customer support. The Group has committed to stand by existing employees by retaining all current roles during this period on full pay. Hiscox has not furloughed any staff and has not accessed any UK Government support schemes.
Hiscox is working with the rest of the insurance industry, including the Association of British Insurers, to identify where it can direct financial support that will have the most impact. Through the Hiscox Foundation, the Group is also supporting vulnerable groups via donations to established charities such as the Trussell Trust and Age UK and around the world we are donating to food banks, the Red Cross and Personal Protective Equipment (PPE) funds.
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