Specialist global re/insurer Hiscox has named the new Director of Underwriting for Hiscox Insurance in Bermuda as Adam Szakmary – who joins from Sompo International’s asset management platform, Blue Capital Management.
Szakmary will oversee underwriting activities in Bermuda, as Director of Underwriting, reporting to incoming Hiscox Re Chief Executive Officer (CEO) and ILS, Mike Krefta.
Krefta welcomed Szakmary to his new role; “We are delighted to add Adam’s experience and skills to Hiscox Re. His expertise in building businesses and in specialty underwriting will be invaluable as we continue to develop our reinsurance offering.”
Szakmary will also join the Hiscox Re Executive team, the Underwriting Leadership Team and the Board of Hiscox Insurance Company Bermuda.
In 2012 he moved to start-up Blue Capital as the founding Portfolio Manager and in 2015 became CEO and Director of the platform, having previously worked for Montpelier Re – former parent company of Blue Capital – in a terrorism underwriting and risk analytics role and later becoming a founding executive of their Lloyd’s platform.
Szakmary is set to start in October once his notice period is complete, replacing outgoing Director Damien Smith, who is returning to London to work as Hiscox Re Head of Specialty.
Hiscox Re said specialty reinsurance is an area the firm is looking to grow, and industry veteran Smith’s return to London will be key to its expansion plan.
Szakmary’s appointment remains subject to immigration and regulatory approval.