Specialist global insurer Hiscox has announced the appointment of Adam Szakmary as director of underwriting for Hiscox Insurance Company Bermuda, subject to immigration and regulatory approval. Szakmary replaces Damien Smith, who is returning to London after six years in Bermuda to become head of Specialty for Hiscox Re.
Szakmary will join the Hiscox Re executive team, the underwriting leadership team as well as the board of Hiscox Insurance Company Bermuda. He will report to incoming CEO of Hiscox Re and ILS Mike Krefta. Szakmary will be responsible for the company’s underwriting activities in Bermuda including the internal reinsurance for the group. Szakmary will start in October once his notice period is complete.
Szakmary joins from Sompo International’s asset management platform, Blue Capital Management Ltd. He initially joined Montpelier Re, the former parent company of Blue Capital, in a terrorism underwriting and risk analytics role. Later he become a founding executive of its Lloyd’s platform where he developed the company’s international property risk book, before going on to underwrite its U.S. property catastrophe book and took a group-wide role focused on enterprise risk management. In 2012 he moved internally to start up Blue Capital as the founding portfolio manager and then in 2015 became CEO and director of the platform.
Discussing Smith’s appointment, Hiscox said he is one of the company’s most experienced underwriters, having worked across most reinsurance lines during his more than 20 years with the group. “Specialty reinsurance is a growth area within Hiscox Re and Smith’s appointment will further bolster the team, which already includes Jonathan Lord in London and Devin Page in Bermuda,” the company said.
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