Mike Krefta, the leading executive in Hiscox’s Bermuda business, is to leave the global re/insurer, the company announced this morning.In a statement, Hiscox said Mr Krefta had decided to return to the UK in early 2021, having completed almost four years as chief executive of Hiscox Re and ILS based in Bermuda. “After 17 years with Hiscox, Mike is looking to pursue interests outside of the insurance sector, and so will be leaving the business at the same time,” Hiscox said. “The search for his successor has commenced, and an appointment will be announced in due course.”Mr Krefta has a personal interest in philanthropic and environmental causes. He worked as a trustee of the Hiscox Foundation, the insurer’s charitable arm, and as executive sponsor for ESG, overseeing the development of the company’s environmental, social and governance strategy. Mr Krefta worked for Hiscox in both London and Bermuda in a variety of accounting, underwriting and catastrophe modelling roles. He has served as Hiscox Re chief underwriting officer, joint active underwriter of Syndicate 33 and active underwriter for Syndicate 6104, before becoming CEO of Hiscox Re and ILS and a member of the Executive Committee in 2017. As CEO of Hiscox Re and ILS, Mr Krefta has overseen a 105-strong team, built a $866.5 million gross written premium business, and has helped to grow Hiscox’s third party capital capability, including its insurance-linked securities funds which now have assets under management of $1.5 billion.Bronek Masojada, Hiscox Group CEO, said: “Mike has made an impressive contribution to the Hiscox Group during his tenure, and we have benefited from his underwriting expertise, energy and commitment to the Group. I would like to thank Mike for all he has done for Hiscox and he leaves with our very best wishes for the next chapter.” Mr Krefta said: “This has been a difficult decision to make as Hiscox is a growing company with a bright future. It has been a great place to build a career, and I look forward to seeing the business prosper — both as a passionate supporter, and as a shareholder.”