Hiscox appoints Managing Principal for its ILS business

London (23 July 2019) – Specialist global insurer Hiscox has promoted Andrew Hughes to the role of Managing Principal, Hiscox ILS. His appointment is subject to Department of Immigration and Bermuda Regulatory approval.

Andrew has been with Hiscox ILS in Bermuda since 2015, working as its General Counsel and Chief Compliance Officer. Over this time he has played an important role in growing the team and its ILS capabilities. With assets under management now at $1.5 billion, Andrew will be responsible for overseeing the strategic direction of the ILS business, ensuring we are meeting investor demand for high-quality, innovative products.

Prior to Hiscox, Andrew worked at Queensland Investment Corporation (QIC), specialising in alternative asset class structuring and investments, and King & Wood Mallesons where he advised on structured finance and securitisation transactions.

Commenting on Andrew’s promotion, Mike Krefta, CEO of Hiscox Re & ILS, said: “It’s an exciting time at Hiscox ILS as we strive to meet sustained investor demand for high-quality, innovative and diversified solutions. Andrew’s tenacity and leadership qualities are exactly what we need to drive our ILS business forward so I am delighted with this appointment.”

Andrew said: “I’m looking forward to building on the strong foundations laid over the last 5 years at Hiscox ILS. Our funds are performing well and we have a great team in place with some interesting product initiatives in train.”

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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 2017 saw the business deliver a profit before tax (excluding foreign exchange) of £93.6 million despite reserving net $225 million for claims in the most costly year ever for natural catastrophes.

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.