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Hiscox merges London and Bermuda teams

Hiscox: Expanding third-party capital efforts

Hiscox has merged its Bermuda and London Market casualty reinsurance teams. The new division will operate under the Hiscox Re brand and will be led by Nick Pascall as head of casualty reinsurance.

The division controls a combined portfolio of $50 million gross written premiums.

With business written out of both London through Hiscox’s Syndicate 33 and Bermuda through Syndicate 3624, the division writes a wide range of products including medical malpractice, general liability, excess and umbrella casualty, directors’ and officers’, errors and omissions and auto liability.

Mr Pascall joined Hiscox in 2013 from American Safety Re (Bermuda) where he was chief underwriting officer. In his new role Mr Pascall will be based in London where he will be supported by senior casualty treaty underwriter Ciaran Mulcahy. Sharmini Samuels, who has been promoted to vice-president, will continue to underwrite the account out of Bermuda.

Commenting on the new team, Mike Krefta, chief underwriting officer, Hiscox Re said: “Casualty is a key part of our diversification strategy. Merging Hiscox’s London Market and Bermuda casualty teams under the Hiscox Re brand reflects our long term commitment to this class of business and will enhance our overall product offering to our clients and brokers.

“Nick’s appointment as Head of Casualty Reinsurance reflects the great work he has already achieved in building our casualty book out of Bermuda.”