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Simon Williams, head of marine and energy at Hiscox, has left the company according to a spokesperson.
No reason was given for the departure of Williams and a replacement at the Bermuda-based insurer has not yet been announced.
The marine and energy division was responsible for five percent of Hiscox’s total group controlled income of £2.67 billion in 2016.
The company stated in its last annual report that it’s marine and energy business is one of the most challenged divisions, adding that it continues to deliver “excellent” profits. The marine and energy liability and hull accounts were broadly flat in 2016, with some reductions in the upstream energy book.
According to Hiscox due to rate reductions, a lack of new business, and the continuing depression in oil prices, the company is actively managing its business in these lines. The company added that the cargo team hired in 2016 is bringing in new opportunities and that it plans to “cautiously” grow the business in 2017.
Hiscox, Simon Williams, Bermuda, Insurance
