Global insurance and reinsurance firm Hiscox today announced that Mike Krefta is to take over as Chief Executive Officer (CEO) of Hiscox Bermuda, Hiscox Re and insurance-linked securities (ILS), replacing Jeremy Pinchin.
Pinchin today revealed that after a number of years in Bermuda as the CEO of Hiscox Re and ILS, and CEO of the firm’s Bermuda operations, he will return to London with his family and be replaced by current Hiscox Re Chief Underwriting Officer (CUO), Mike Krefta.
“From London, I will continue my role as Hiscox Group Claims Director and as a member of the Hiscox Group Executive Committee. I will also join the Board of Hiscox Special Risks,” said Pinchin.
Subject to regulatory and immigration approvals Krefta is expected to relocate to Bermuda and assume his new roles within the company from August 1st, 2017, and Pinchin has described his successor as “well equipped to lead this business, particularly as our ILS operations grow in prominence.”
The firm announced earlier this year that it’s expanding its ILS capabilities with the addition of a collateralised reinsurance offering, which will compliment its increasingly beneficial Kiskadee ILS funds.
Krefta joined the firm 13 years ago, and started his Hiscox career as an analyst for Hiscox UK. He then joined the company’s catastrophe modelling division and has spent the last 11 years working in various reinsurance roles, developing a deep understanding of the global reinsurance and ILS industry.
Hiscox formed its reinsurance unit Hiscox Re in 2013, and at that time Krefta was appointed Director of Non-Marine Underwriting, and named as the CUO of Hiscox Re the following year. During this time he also served as joint active underwriter of the company’s Syndicate 33 and active underwriter for Syndicate 6104.