Global insurer and reinsurer Hiscox has announced two appointments as it changes the structure of its senior management team, as the firm looks to build on growth momentum in its retail operations.
Chief Executive Officer (CEO) of Hiscox USA, Ben Walter, is set to move to London and take on the newly created role of CEO Hiscox Global Retail, effective July 1st, 2018.
He will be responsible for leading the group’s retail businesses, which includes Hiscox UK & Ireland, Hiscox Europe, Hiscox USA and Hiscox Special Risks, and he will have a focus on driving product innovation and growth across the sector.
CEO of Hiscox UK & Europe, Steve Langan, is set to move to New York to take on the role as CEO of Hiscox USA, effective July 1st, 2018. He will have a focus on developing and driving the firm’s growth in the USA, and will also remain Chief Marketing Officer for the group.
Hiscox Group CEO, Bronek Masojada, commented; “Hiscox’s growth in retail markets, particularly over the last 10 years, has changed the shape of our business. We are no longer a Lloyd’s player with retail operations on the side, and as our business evolves we need to be able to respond to the huge opportunity ahead.
“Our retail businesses span 12 countries and are at different stages of their journey, but they share similar challenges and opportunities such as brand building, leveraging scale and digitisation. These appointments will help us continue on our path of building a Group which can thrive at all stages of the insurance cycle.”
Both Walter and Langan will remain on the Executive Committee, and Hiscox has said that it will start looking for a new UK & Ireland CEO in the autumn.
