Hiscox poaches head of energy underwriting from Chubb

Hiscox has poached a new line underwriter to lead its energy underwriting team.

Riaz Thanduparakkal joins from Chubb where he spent more than a decade, holding a number of roles including product head of energy in the London market specialty wholesale division and head of multinational and network development for energy.

Before Chubb Thanduparakkal was an account manager for Marsh UK’s energy practice. He has also held roles with Lloyd’s broker Crispin Speers & Partners and Oman Insurance in Dubai.

In his new role he leads a team of energy underwriters that includes Lorraine Mackey and Louis Cozon, both upstream energy underwriters. He reports to Mike Southgate, Hiscox’s divisional director for marine, energy and specialty and is based in London.

Southgate said the appointment will broaden Hiscox’s skillset and product offering to ensure it remains a relevant partner to its clients. “Our energy clients’ businesses are rapidly evolving as the sector pivots towards more sustainable business models in line with their ESG commitments and we must also evolve and innovate with them,” he said.

Thanduparakkal said now is a time of huge disruption for the energy industry. “Lloyd’s recent launch of its Sustainable Markets Initiative Insurance Task Force underlined the market’s commitment to help businesses ‘accelerate their transition to a sustainable future’,” he said. “We want to play our part in that transition, by supporting our clients with the risk products and services they need as their business models adapt, in line with our own ESG ambitions.”