Hiscox Re Insurance Linked Strategies Ltd. said today that Chief Operating Officer and Managing Principal Richard Lowther is moving on from the firm.
Lowther had been working at Hiscox in ILS since 2014, as the Chief Operating Officer (COO) of Hiscox’s relatively new at the time insurance-linked securities (ILS) and collateralised reinsurance unit.
He joined Hiscox after a number of years working at Validus’ ILS unit AlphaCat Managers Ltd. Previously he had been Executive Vice President and Partner within the Capital Markets Management Division of JLT Insurance Management (Bermuda) Ltd. He moved to Bermuda in 1998 with Marsh Management Services (Bermuda) Ltd.
Lowther was then made a Partner at Hiscox in 2016.
His role at Hiscox saw him responsible for developing the insurance-linked securities (ILS) investment platform at the re/insurer, as well as related operational processes.
In his time at the firm the Hiscox ILS strategies have increased assets under management to around $1.5 billion.
Lowther’s destination is currently unknown. He’s likely to resurface in the sector given his significant experience in reinsurance and ILS, particularly having been involved in now two ILS units since their formative years, at Hiscox and Validus.
Commenting on the news, a Hiscox spokesperson explained, “Richard has achieved a great deal during his time as Managing Principal at Hiscox ILS. He leaves with our sincerest thanks for his significant contribution to building our ILS business, and we wish him all the best in the next chapter of his career.”