Hiscox vehicle hires AlphaCat COO, BMA chair

Kiskadee Investment Managers, Hiscox Re’s insurance-linked securities (ILS) asset management subsidiary, has hired the former chief operating officer of AlphaCat Managers and the former chairman of the Bermuda Monetary Authority (BMA).

Richard Lowther, formerly the chief operating officer of AlphaCat Managers, will assume the same role for Kiskadee. Based in Bermuda, he will be responsible for the development of the overall infrastructure of the business as well as day-to-day operations.

Prior to his role with AlphaCat, Lowther was a partner with JLT Insurance Management and worked with Marsh Management Services.

Alan Cossar, the former chairman of the BMA, has been appointed as the non-executive chairman of the two new Kiskadee ILS funds managed by Kiskadee Investment Managers.

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.

Jeremy Pinchin, Hiscox Re’s CEO, said: “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.”