Megan McConnell, who as we reported yesterday is departing the Paraline group, is to emerge in a new reinsurance role as Director of Underwriting at Hiscox Re in London.
McConnell had worked for International Catastrophe Insurance Managers, LLC (ICAT) since 2005, but it was announced yesterday that she is leaving the renamed Paraline syndicates for a new opportunity in the Lloyd’s market.
McConnell is set to take on the role of Director of Underwriting for Hiscox Re in London, the company said, becoming Joint Active Underwriter for Syndicate 33 and Active Underwriter for Syndicate 6104. McConnell will also join the Hiscox Syndicates Limited Board, subject to regulatory and immigration approval.
She will oversee the Hiscox reinsurance underwriting team in London and take on a leadership role in the team’s ambitions to innovatively match reinsurance risk with capital, the company said.
McConnell will be tasked with helping the Hiscox reinsurance business to access U.S. flood risks in the deregulating market, through its recently launched FloodXtra product, as well as deliver further growth in specialty lines such as cyber and terrorism.
Mike Krefta, Hiscox Re and ILS CEO, commented on the hire, “Megan is an exciting addition to our reinsurance team. Her experience of running a Syndicate was desirable to us and we will benefit from the fresh thinking she will bring.”