Bermuda’s Hiscox Re has taken on a new director of underwriting.

Adam Szakmary, former CEO of Sompo-owned Blue Capital Management, will join Hiscox Insurance Co., replacing Damien Smith, who will become head of specialty for Hiscox Re in London after six years on the island.

Mr Szakmary is expected to take up his new role in October after the end of his notice period and subject to immigration and regulatory approvals.

Mike Krefka, the incoming CEO of Hiscox Re and insurance linked securities, said: “We are delighted to add Adam’s experience and skills to Hiscox Re. His expertise in building businesses and in specialty underwriting will be invaluable as we continue to develop our reinsurance offering.”

Mr Szakmary will be part of the Hiscox Re executive team, the underwriting leadership team and sit on the board of Hiscox Insurance.

In other changes, Michael Jedraszak will leave his role as chief investment officer of Hiscox’ ILS unit.

Mr Jedraszak has worked for Hiscox in both London and Bermuda and helped to create the firm’s Kiskadee offshoot and worked through the restructuring of the ILS team into Hiscox Re and ILS.