Last checked at 13 Apr 2015 07:00
HISCOX LTD ANNOUNCES BOARD DIRECTOR CHANGE
Hamilton, Bermuda (13th April 2015) - The Board of Hiscox Ltd has today announced that Stuart Bridges, Chief Financial Officer at Hiscox, will be leaving the Group after 16 years of service to join ICAP Plc as Group Finance Director.
Stuart will remain in office until 31st August 2015, after the publication of Hiscox's half year results in late July. The Board has begun the search for his successor both internally and externally and a further announcement will be made in due course.
Robert Childs, Chairman, Hiscox, said: "Stuart has made a major contribution to the strategic and financial evolution of Hiscox. His steadiness under fire, particularly demonstrated in the aftermath of the terrible events of 9/11, testing hurricanes in 2005 and the financial crisis, has been of immense value to the Group. He leaves with our sincerest thanks and we wish him every success in his new role."
Stuart joined Hiscox in 1999 when the Group had gross written premiums of £241 million and shareholder funds of £185 million. In 2014, the Group reported gross written premium of £1,756 million and shareholder funds of £1,454 million. During this time, its market capitalisation has risen from £240 million to £2,500 million and delivered a total shareholder return of 16.1% per annum.
Stuart added: "While I am excited about my new role, I am sad to be leaving Hiscox and I will continue to follow the company's success closely, both as a former Board member and a shareholder. I wish the Board and the company well, and will be fully devoted to the Group until my departure in the summer."
For further information:
Hiscox Ltd
Jeremy Pinchin Kylie O'Connor, Head of Group Communications | +1 441 278 8300 +44 (0)20 7448 6656 |
Brunswick | |
Tom Burns Simone Selzer | +44 (0)20 7404 5959 +44 (0)20 7404 5959 |
Notes to editors
About Hiscox
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting divisions in the Group - Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia), Hiscox London Market and Hiscox Re. Through its retail businesses in the UK, Europe and the US Hiscox offers a range of specialist insurance for professionals and business customers, as well as homeowners. Hiscox underwrites internationally traded, bigger ticket business and reinsurance through Hiscox London Market and Hiscox Re. For further information, visit www.hiscoxgroup.com.