28th Jan 2015 10:13
LONDON (Alliance News) - Specialist insurer Hiscox Ltd Wednesday said it has appointed actuary Craig Martindale as its head of capital management, a newly created role under which he will be responsible for bringing together the group's capital models used across the business.
The new head of capital management will be tasked with providing "one clear, consistent and accurate view" of the group's capital management.
According to Hiscox, Martindale was most recently a member of its underwriting risk and reinsurance team, where he contributed to decision-making.
Martindale, who has worked at Hiscox since 2009, began life with the group as part of the group capital modelling team, where he led the development of a capital model to calculate regulatory capital under Solvency II insurance regulations.
He will report to Chief Financial Officer Stuart Bridges.
"An increased focus on effective capital management made the creation of this role a natural next-step for our business," Bridges said.
Hiscox shares were up 0.5% at 754.00 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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