HAMILTON, BERMUDA: Specialist global insurer Hiscox Limited announced that after 21 years as Group Chief Executive, Bronek Masojada has informed the Board of his intention to retire at the end of the year.
Following a thorough succession process, the Board has appointed Aki Hussain, currently Group Chief Financial Officer, as Group Chief Executive from January 2022, subject to regulatory approval.
Robert Childs, Hiscox Group Chairman, commented: “I would like to thank Bronek for his outstanding contribution to the Hiscox Group. His energy and passion to move the business forward has resulted in three decades of strong growth and transformed Hiscox into a leading diversified specialist insurer with a great future ahead of it.
“We are delighted that Aki will be our new CEO and the Board were unanimous in endorsing this appointment. Aki’s ambition, drive and knowledge of the Hiscox Group, combined with his many years’ experience delivering for a variety of financial services organisations, makes him well placed to capture the many opportunities ahead.”
Bronek Masojada, Hiscox Group Chief Executive Officer, commented: “It has been an incredible privilege to lead Hiscox and be part of its journey over the last 28 years. The business is on a very strong footing with market conditions the best we have experienced for many years and the time is right to hand over to new leadership. I have worked closely with Aki for the last five years, and his impressive banking, telecoms and media experience make him a great choice to lead the business.
“I look forward to delivering our half year results on the 3rd of August and building on the strong performance we set out in the Q1 trading update.”
Aki Hussain, Hiscox Group Chief Financial Officer, commented: “I am honoured to be taking over the leadership of this dynamic company. I am excited about the long term potential of our business, we have exceptional talent, a market leading position and a strong balance sheet.
“I would also like to thank Bronek for getting us here. The Group’s strategy of balance and diversification creates opportunities across all our business divisions. In big-ticket lines where rates are hardening, we have market-leading operations with decades of underwriting pedigree, while our long-term investment in digital trading means we are well poised to benefit from the explosive opportunity in retail.”
Bronek will remain in place until the end of the year allowing for a smooth transition while a search for a new Group CFO is conducted.
Aki’s appointment followed a full and independent process led by the Nominations and Governance Committee, supported by a leading search firm. This involved a global search and the assessment of internal and external candidates.
Hiscox Ltd share price
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21 Jul, 4:35 pm GMT+1 ·Disclaimer