Hiscox appoints Joanne Musselle as new group CUO replacing Richard Watson

Bermuda-based re/insurer Hiscox has appointed Joanne Musselle as its new group chief underwriting officer (CUO), replacing Richard Watson.

Hiscox said it conducted a 'thorough internal and external search' after Watson announced in June that he is stepping down from his position after 33 years with the carrier. He joined Hiscox in 1986 and held several leadership roles within the company, including chief executive officer for Hiscox USA, before becoming CUO for the group in 2012.

Musselle is currently chief underwriting officer for Hiscox Retail, the group's largest division, responsible for all retail underwriting across the group, including Hiscox UK, Hiscox Europe, Hiscox USA, Hiscox Special Risks and Hiscox Asia.

She will step into the new role at the end of the year following Watson's retirement, and join the Hiscox's board as an executive director in February 2020, subject to regulatory consent.

Musselle has been with Hiscox for 17 years, having joined the UK business in 2002 as technical underwriting manager for professions and specialty commercial lines. Since then she has held a variety of senior roles including head of UK claims and CUO for Hiscox UK and Ireland before taking on the newly-created position of CUO for Hiscox Retail in 2018. Prior to Hiscox, she spent almost 10 years working in a variety of actuarial, pricing and reserving roles at AXA and Aviva in both the UK and Asian markets.

"After a thorough search where we considered a number of strong internal and external candidates, I am pleased to appoint Joanne as our next Group Chief Underwriting Officer," said Bronek Masojada, Hiscox Group CEO.

"Joanne's deep understanding of our business and experience of managing underwriting portfolios in our key markets will be critical for our next stage of growth. She has overseen strong, profitable growth in our retail casualty and property portfolios and has confidently led the business through a number of changes in course when market conditions have been tough. Joanne's commerciality, long-term view and ability to challenge will make her a valuable member of our Executive team," he added.

Musselle commented: "Profitable underwriting is the backbone of Hiscox and I could not be more delighted to serve the Group in this broader role. Being part of the evolution of Hiscox over the last 17 years has given me many experiences and opportunities across the whole of our business and I am excited to be taking up this next challenge."

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