Hiscox appoints Andrew Hughes to lead ILS business

Specialist insurer Hiscox has promoted Andrew Hughes to the role of managing principal for its insurance-linked securities (ILS).

Hughes takes over from Hiscox ILS chief operating officer (COO) Richard Lowther who has resigned from the firm.

Hughes has been with Hiscox ILS in Bermuda since 2015, working as its general counsel and chief compliance officer. Prior to Hiscox, he 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.

In his new role, Hughes will be responsible for overseeing the strategic direction of Hiscox's ILS business, with assets under management at $1.5 billion.

His appointment is subject to Department of Immigration and Bermuda Regulatory approval.

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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