22nd Jul 2021 10:01
(Alliance News) - Insurer Hiscox Ltd announced on Thursday it will promote Chief Financial Officer Aki Hussain to chief executive from January 1 next year.
Hussain will take over from current boss Bronek Masojada, who is retiring after leading the Hamilton, Bermuda-based firm for 21 years.
"The business is on a very strong footing with market conditions the best we have experienced for many years and the time is right to hand over to new leadership," said Masojada.
Masojada will continue in his current position until the end of the year to allow a smooth transition while the insurer seeks another chief financial officer. He has been part of the company since 1993, while Hussain who joined as CFO in 2016.
Hiscox employs over 3,000 people in 14 countries and has an investment portfolio of USD7.6 billion.
Shares in Hiscox were up 0.6% at 876.40 pence in London on Thursday.
By Josie O'Brien; [email protected]
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