Further appointments and a new hire have been announced by Hiscox Re & ILS, the reinsurance and insurance-linked securities (ILS) division of global re/insurer Hiscox, as the division continues to build out its footprint in advance of the key renewal season.
Hiscox Re & ILS has increased its underwriting operations over the course of 2018, taking advantage of some higher reinsurance pricing and market dislocation, to be benefit of its ILS fund strategies which are managed in the Hiscox Re Insurance Linked Strategies Ltd. (Hiscox Re ILS) third-party reinsurance capital management unit.
The firm has also been adding new hires throughout 2018, or promoting from inside, as its platform footprint continues to expand.
In this latest round of appointments, Hiscox Re & ILS has named Mike Schindel as its Head of North America. He has worked at Hiscox since 2009, having begun his career there in the operations team then transitioned to a leadership role in the International underwriting team. He succeeds Ross Nottingham, who was promoted to Chair of North America in August.
Schindel takes up the new role immediately, but will continue to support his existing international team through to the key April 1st renewal period. He will remain based in Bermuda.
Given the moving of Schindel into the North American underwriting team, Nick Orton has been promoted to Head of International.
He has worked with Hiscox since 2012 as a senior underwriter and will now be tasked with advancing product innovation to support growth in the International book at Hiscox Re & ILS. He will also take up the new role immediately, and will continue to be based in London.
Daniel Vestergren is a new hire, joining Hiscox Re & ILS as Chair of International, from his most recent role at Ariel Re underwriting retrocession, specialty and international reinsurance business, Prior to that he was at Goldman Sachs where he focused on North America and international property catastrophe underwriting for Syndicate 1910.
In his position he will be tasked with driving the strategic direction of the International book of business.
Vestergren will join Hiscox Re & ILS in in May 2019 and be based in Bermuda.
Mike Krefta, CEO of Hiscox Re & ILS, commented on the appointments, “It is always pleasing to see people build their careers at Hiscox, so I’m proud of Mike and Nick’s appointments and delighted to welcome Daniel. All three have an important part to play in building on the great momentum we already have in the business as we enter the busy renewals season.”