Hiscox appoints managing principal for its ILS business

Specialist global insurer Hiscox has promoted Andrew Hughes to the role of managing principal of Hiscox ILS.

Hughes joined Hiscox ILS in Bermuda in 2015 as general counsel and chief compliance officer. He is now responsible for the $1.5 billion in assets under management in the ILS business, overseeing its strategic direction and ensuring innovative products meet investor demand.

Before joining Hiscox ILS Hughes was at Queensland Investment Corporation, specialising in alternative asset class structuring and investments, and King and Wood Mallesons, advising on structured finance and securitisation transactions.

Mike Krefta, CEO of Hiscox Re and ILS, said: “It’s an exciting time at Hiscox ILS as we strive to meet sustained investor demand for high-quality, innovative and diversified solutions. Andrew’s tenacity and leadership qualities are exactly what we need to drive our ILS business forward so I am delighted with this appointment.”

Hughes’ appointment is subject to Department of Immigration and Bermuda regulatory approval.