Hiscox hires Blue Capital's Szakmary as part of wider reshuffle

Adam Szakmary, the former CEO and portfolio manager at Blue Capital Management, has joined Hiscox Insurance Company Bermuda as director of underwriting. He replaces Damien Smith, who is returning to London after six years in Bermuda to become the 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 Mike Krefta, the incoming CEO of Hiscox Re and ILS.

Szakmary will assume his new role in October, and be responsible for the company's underwriting activities in Bermuda including the internal reinsurance for the group.

Szakmary joins Hiscox from Sompo International’s asset management platform Blue Capital Management. He  resigned from Blue Capital last month.

He initially joined Montpelier Re, the former parent company of Blue Capital, in a terrorism underwriting and risk analytics role later becoming a founding executive of its Lloyd’s platform where he developed an international property risk book. He later went on to underwrite a US property-catastrophe book and take on a group-wide role focused on enterprise risk management.

Szakmary moved internally to start up Blue Capital as the founding portfolio manager in 2012, and then in 2015 became the CEO and director of the platform.

The Bermuda-based re/insurer said that "specialty reinsurance is a growth area within Hiscox Re" and Smith will be tasked to further bolster the team, which already includes Jonathan Lord in London and Devin Page in Bermuda.

Krefta said: "We are delighted to add Adam’s experience and skills to Hiscox Re. His expertise in building businesses and in specialty underwriting will be invaluable as we continue to develop our reinsurance offering."

Today’s stories

AmTrust faces "hundreds of millions of dollars" reserve charge, say analysts

White Mountains gives green light for $1.7bn sale of OneBeacon to Intact

Liberty Mutual combines US specialty business with Ironshore

Q1 revenues rise at Allianz; anticipates full-year operating profit €10.8bn

Ironshore removed from ‘Under Review’ by AM Best due to Liberty acquisition

Miller hires Integro exec to lead facultative energy team

White Mountains appoints new CFO

QBE NA hires XL exec to lead Western region specialty underwriting

Solid growth for Greenlight but its profits plummet in Q1

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.