Hiscox lines up ex-Canopius as new group CFO after months-long search

Global specialist re/insurer  Hiscox has found a new permanent group chief financial officer (CFO) who replaces chief executive-in-waiting Aki Hussain, ending a months-long head hunt that began in July following a  leadership transition at the firm.

Paul Cooper of M&G will join the London-listed re/insurer as group CFO, and its board of directors.

Cooper’s start date will be confirmed in due course. In the meantime, Liz Breeze will act as Hiscox group CFO from January 1, 2022 on an interim basis.

Cooper is currently a board member of the ABI and a non-executive director of Aspen Insurance UK Ltd and Aspen Managing Agency. He has over 25 years financial services experience including across both the retail and Lloyd’s insurance markets. He is currently Interim Group CFO at M&G, the FTSE 100 asset manager and life insurer, where he is responsible for the planning, implementation, and management of all finance activities. He is also CFO for The Prudential Assurance Company.

Prior to M&G, Cooper held a number of senior roles in financial services including at Lloyd’s insurer Canopius where he was group CFO, becoming CEO of the Managing Agency in 2017. Cooper served as finance director for Hiscox UK and Europe from 2006-2011 during a key phase in its growth. He was an insurance partner at Ernst & Young LLP from 2011-2013 and trained as a chartered accountant at PricewaterhouseCoopers (PwC).

Hussain, Hiscox Group CEO designate, said: “The depth and breadth of Paul’s insurance knowledge makes him a great addition to the executive team. His broad commercial acumen as well as his audit, regulatory and capital markets experience will help us capture the many opportunities ahead. I am very pleased Paul is joining Hiscox and look forward to welcoming him back.”

Cooper added: “I am delighted to be returning to Hiscox. The Group has a fantastic heritage and an exciting future. Market conditions are excellent and there is significant opportunity for profitable growth in all of the Group’s major markets. I look forward to building on this in the months and years ahead.”

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