Hiscox Opens Offices in Sweden, Portugal

November 23, 2006

Hiscox plc, a leading specialist insurer, has opened two new European offices – one in Sweden and another in Portugal – as part of its commiment to further European development.

“The offices in Stockholm and Lisbon will target high-net-worth consumers in the Art and Private Client market,” said the announcement. “Hiscox Portugal will be led by Gonçalo Baptista, while Hiscox Sweden will be headed by Mats Heggestad.”

With the addition of the two new offices, Hiscox now has facilities in 12 major financial center in an equal number of countries: Amsterdam, Bermuda, Brussels, Dublin, Guernsey, Madrid, Munich, Cologne, New York, Paris, Lyon, Stockholm and Lisbon. In addition to London, its present home base, Hiscox has six UK regional offices in Birmingham, Bristol, Colchester, Glasgow, Leeds and Maidenhead.

Hiscox noted that its “European expansion began in 1995 and was further strengthened in 2003 with the acquisition of the renewal rights for Chubb’s high net worth business in Europe.” It is also planning on relocating its corporate domicile to Bermuda (See IJ Website Oct. 25).

CEO Bronek Masojada commented: “We are delighted to be expanding our offering into these two markets. We believe that they have excellent potential for our successful Art and Private Client products. Both Gonçalo Baptista and Mats Heggestad have the experience and knowledge to provide great service to our potential new customers.”

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