Hiscox hires ex-AIG as chair of audit committee following departure

Specialist global insurer  Hiscox has appointed a former AIG leader as independent non-executive director on its board.

Donna DeMaio (pictured) will take over as chair of the company's audit committee from Caroline Foulger next year.

Hiscox's audit committee is currently chaired by Foulger, who will retire as an independent non-executive director at the Annual General Meeting in 2022 following the conclusion of her nine year term with the company.

DeMaio has over 35 years' experience across a broad range of financial services organisations in challenging markets and complex regulatory environments. She has held a number of senior roles in the insurance industry and in banking, having most recently served as global chief operating officer for AIG's general insurance division. Prior to that, she was chair of the board for both United Guaranty Corporation and MetLife Bank.

Robert Childs, Hiscox Group chairman, said: "Donna's wealth of industry experience will be an excellent addition to the Hiscox Ltd Board, and her audit and regulatory expertise makes her the right person to oversee the important work of our Audit Committee in due course.

"We will continue to benefit from Caroline's expertise for another 6 months but I would like to take this opportunity to thank her for the significant contribution she has made during her tenure at Hiscox. We have benefited greatly from her experience and counsel over the years and I wish her every success for the future."

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