Hiscox hires Hamilton's Kathleen Reardon as CEO of reinsurance & ILS

Specialist insurer Hiscox has hired  Hamilton's Kathleen Reardon as chief executive officer (CEO) of its reinsurance and insurance-linked securities business (Hiscox Re & ILS), replacing Mike Krefta.

Krefta will be stepping down in early 2021.

Reardon will sit on Hiscox's group executive committee and will be based in Bermuda, leading Hiscox’s reinsurance and ILS teams which operate from Bermuda and London.

Most recently chief executive officer of Hamilton Re, Reardon 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. She joined Hamilton Re in 2013 as chief underwriter (property), and was appointed CEO in 2014, a post she held until 2020.

Reardon 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.

Bronek Masojada, chief executive of Hiscox, 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.”