1 December 2016Insurance

Hiscox Re CEO steps down to continue London role; successor is named

Hiscox, a specialist global insurer, has appointed Michael Krefta as CEO of Hiscox Re and ILS, and CEO of Hiscox Bermuda, effective Aug. 1, 2017.

Krefta is replacing Jeremy Pinchin who after five years in Bermuda, will step down from his Bermuda-based roles to return to London, where he will continue in his role as Hiscox Group Claims Director and as a member of the Hiscox executive committee. Pinchin will also join the Board of Hiscox Special Risks.

Krefta currently serves as chief underwriting officer of Hiscox Re, and in his new leadership role will be based in Bermuda and report to group CEO Bronek Masojada. He will also join the Hiscox executive committee. Krefta has joined Hiscox 13 years ago as an analyst for Hiscox UK before moving into the catastrophe modelling team and spending the last 11 years in various roles within reinsurance.

When Hiscox Re was formed in 2013, Krefta was appointed director of non-marine underwriting, and in 2014 he was appointed as Hiscox Re’s chief underwriting officer, at the same time serving as joint active underwriter of Syndicate 33 and active underwriter for Syndicate 6104.

Masojada said: “Throughout the recent transformation of our reinsurance business, Michael has expertly guided the underwriting integrity that is so attractive to our third party supporters, while instituting a more commercial approach in our underwriting.

“I look forward to working closely with Michael as he leads the business through its next phase of growth, particularly as our ILS business grows in significance with now more than $1 billion AUM (assets under management).”

“Jeremy has had a huge influence on the evolution of our Bermudian operation. It is under his leadership that Hiscox Re was not only created but has since successfully navigated a turbulent reinsurance market,” Masojada added.

“He also initiated the creation of Kiskadee Investment Managers, our ILS fund manager, and evolved our approach to product innovation, with repeated success. In returning to London, I am confident our

Group claims function will continue to benefit hugely from his leadership. I am delighted that he will also join me on the Board of Hiscox Special Risks, which underwrites over half of the world's specialist corporate protection insurance premium, and has led the development of this market for more than two decades.”

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