Hiscox names McConnell as U.S. CUO, shuffles Hiscox Re & ILS leadership

Hiscox has revealed a number of senior changes in underwriting and operations, as experienced lead underwriter Megan McConnell has been named Chief Underwriting Officer in the U.S. and is set to relocate to New York.

McConnell was most recently the Director of Underwriting for Hiscox Re & ILS, the unit of the global insurance and reinsurance firm Hiscox that houses its insurance-linked securities (ILS) operations.

McConnell joined Hiscox back in 2018, joining the firm’s reinsurance and ILS division after leaving her previous role as the Active Underwriter of Paraline (formerly ICAT) Syndicate 4242 and Special Purpose Arrangement 6123.

In the Paraline role, McConnell built the firms commercial and personal lines insurance business, managing portfolios from a pricing, underwriting, operations, marketing and distribution perspective. She also worked on strategic planning for the Lloyd’s Syndicate including its reinsurance purchasing strategy.

McConnell also assisted with the issuance of the first catastrophe bond to support the Paraline’s reinsurance needs, the Buffalo Re transaction in early 2017.

Steve Langan, Chief Executive Officer for Hiscox USA, commented on McConnell’s appointment to U.S. CUO, “Megan has a strong track record of success in the industry, from running a Syndicate to overseeing Hiscox’s reinsurance underwriting team in London. Her strong leadership abilities and extensive expertise in driving product development and business growth will be a strong asset to our operations in the US.”

In the new Manhattan based role, McConnell will lead underwriting strategy and execution for Hiscox’s portfolio of specialty risk solutions in the U.S., reporting in to Langan.

Because of this move, Hiscox Re & ILS has shuffled its underwriting and operational leadership a little.

Andrew Dolphin has been named Director of Underwriting – London for Hiscox Re & ILS, replacing McConnell, with his appointment subject to board and regulatory approval.

In 2018 Dolphin was promoted to the role of Chief Operating Officer, Hiscox Re & ILS, having previously worked in reinsurance buying and led the international business as Chair.

His new role as Director of Underwriting – London will begin in October and he will still be based in London.

Once Dolphin is in his new role, Chris Lee will be promoted to the Chief Operating Officer, Hiscox Re & ILS position and will join the Hiscox Re & ILS Executive.

Lee joined Hiscox in March 2019 as Head of Insight, with responsibility for leading its data and insights strategy.

He was previously COO at Lief and Dev BootCamp. He will take on the role in October and remain based in Bermuda.

Mike Krefta, CEO of Hiscox Re & ILS, commented, “As Hiscox Re & ILS continues to evolve in response to the opportunities ahead, it’s fantastic that we can draw on the experience of Andrew and Chris. It’s always rewarding when we can find ideal candidates within our own talent pool and I look forward to seeing what they will bring to their roles and how they will continue to drive the business forward.”