Hiscox combines casualty reinsurance teams

Hiscox’s Bermuda-based and London market casualty reinsurance teams have been combined into a single division.

Operating under the Hiscox Re brand, the division will be led by Nick Pascall as head of casualty reinsurance.

Pascall joined Hiscox in 2013 from American Safety Re (Bermuda) where he served as chief underwriting officer.

Based in London, he will be supported by senior casualty treaty underwriter Ciaran Mulcahy.

Additionally, Sharmini Samuels, who has been promoted to vice president, will continue to underwrite the account out of Bermuda.

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.

Mike Krefta, chief underwriting officer of 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 and I have no doubt he will lead the combined team to achieving further growth in this important area for Hiscox Re.”