Hiscox Re & ILS, the global reinsurance and insurance-linked securities (ILS) division of the Hiscox Group, has announced the hiring and appointment of well-known industry executive Kathleen Reardon as its new CEO.
Reardon departed from her CEO role at Hamilton Re, the reinsurance focused operations of Hamilton Insurance Group, earlier this year.
Now, she has been lined up to succeed Mike Krefta, who Hiscox had announced in August would be stepping down in early 2021.
Bronek Masojada, Hiscox Group CEO, commented on the news, “Kathleen brings the market knowledge and leadership skills we need to ensure that Hiscox Re & ILS can take advantage of a hardening market and deliver good returns to our reinsurance partners, ILS investors, and shareholders. She will also ensure our offering to cedents evolves as the market evolves. I look forward to working with her and benefiting from her fresh perspective.
“I would also like to thank Mike Krefta our current CEO of Hiscox Re & ILS. Mike joined in 2003 as a management information analyst and rose through the ranks to become CUO and then CEO for the last four years. Through his underwriting expertise, energy and commitment, Mike has made an impressive contribution to Hiscox. This includes Mike’s efforts as Executive Sponsor for our ESG commitments, he has passionately brought together activities from across the Group to form a comprehensive plan gaining the support of the Board, colleagues and external stakeholders. He leaves with our very best wishes for the next chapter.”
Reardon had been the CEO of Hamilton Re since 2014, having previously been a founding member of that re/insurers management team and its Chief Underwriting Officer of Property.
Reardon previously served as Chief Underwriting Officer SVP for ACE Tempest Re Bermuda’s International Property Catastrophe reinsurance business, prior to which she spent time working at ACE Financial Solutions International, first as AVP Underwriting and then as VP Underwriting.
Reardon will sit on the Hiscox Group Executive Committee and will be based in Bermuda, leading Hiscox’s Reinsurance and insurance-linked securities (ILS) teams which operate from Bermuda and London.