Hamilton, Bermuda, (2 April, 2014) – Kiskadee Investment Managers, Hiscox Re’s Insurance Linked Securities (“ILS”) asset management subsidiary, has appointed Richard Lowther as Chief Operating Officer. In addition, Alan Cossar, former Chairman of the Bermuda Monetary Authority, has been appointed as the Non-Executive Chairman of the two new Kiskadee ILS funds managed by Kiskadee Investment Managers.
As Chief Operating Officer for Kiskadee, Richard Lowther will be based in Bermuda and is responsible for the development of the overall infrastructure of the business as well as day-to-day operations. Richard was previously at AlphaCat Managers Ltd where he served as COO responsible for developing the ILS management structure and operational processes. Prior to this role he was a Partner with JLT Insurance Management and worked with Marsh Management Services. Richard has a BA degree in economics from the University of Victoria in Canada and is a member of the Canadian Institute of Chartered Accountants.
Alan Cossar was Chairman of the Bermuda Monetary Authority from 2010 through 2012, having previously spent 29 years with Aon Captive Services Group, serving as Group Managing Director, Americas region, until 2005. He was elected to the executive committee of the Bermuda Insurance Management Association in 1990, serving as President from 1996 to 1997 and as an Alternate from 2002 to 2005. Alan is a member of the Institute of Chartered Accountants of Scotland and a graduate of the University of Strathclyde in Scotland, with a BA degree in accountancy and economics.
Commenting on the appointments, Jeremy Pinchin, Hiscox Re’s CEO, says: “The successful launch of Kiskadee offers a truly differentiated proposition to ILS investors; combining superior risk selection, diversification and portfolio design whilst leveraging the best of Hiscox Group and its experience of third party capital management.
“Richard Lowther’s operational ILS expertise will play a crucial role as we continue to scale up our operations, while Alan Cossar will provide valuable insight and guidance to our Kiskadee management team. I look forward to welcoming them both from 1 April, 2014.”
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Hiscox Ltd
| Kylie O’Connor
Sebastian St.John-Clarke | +44 (0) 207 448 6656
+44 (0) 845 652 1937 |
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Kiskadee Investment Managers, a wholly owned subsidiary of specialist insurer Hiscox, provides third party investors with the opportunity to gain exposure to Hiscox’s high quality book of reinsurance business.
The platform is divided into two separate vehicles; each with different return profiles and portfolio requirements. Kiskadee is able to facilitate year round investment liquidity for incoming investors, providing immediate access to live portfolios of risk.
About Hiscox
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group - Hiscox London Market, Hiscox Re and Hiscox Retail, which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia. Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox Re and Hiscox London Market. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners.
For further information visit www.hiscoxgroup.com
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