LONDON (Bloomberg) — Bermuda-based Hiscox, the third-biggest Lloyd's of London underwriter, appointed Pierre-Olivier Desaulle as managing director of Europe, replacing Michael Gould, who will focus on his role as chief operating officer.

Desaulle, 45, will take charge of Hiscox's operations in countries in Europe, excluding the UK, from June 1, the insurer said in a statement yesterday.