Hiscox Group appoints Riaz Thanduparakkal as Line Underwriter for its energy business
Hiscox has poached a senior underwriter from Chubb to develop its product offering for the energy sector as the company transitions towards more sustainable business models.
LONDON, England, July 7 2021 (PRESS RELEASE) -- Global insurer Hiscox has appointed Riaz Thanduparakkal as Line Underwriter, Energy to lead its underwriting team in developing their product offering for the energy sector.
Thanduparakkal (pictured), who will be based in Hiscox's London office, joins after working for Chubb Group for over 10 years.
At Chubb he recently held roles including Product Head, Energy within their London market specialty wholesale division and Head of Multinational and Network Development, Energy.
Prior to that, he was an Account Manager for Marsh UK Limited's Energy practice and has also held roles with Lloyd's broker Crispin Speers & Partners and Oman Insurance in Dubai.
He will report to Mike Southgate, Hiscox's Divisional Director for Marine, Energy and Specialty, and lead a team of experienced energy underwriters, including Lorraine Mackey, Upstream Energy Underwriter, and Louis Cozon, Upstream Energy Underwriter.
"Our energy clients' businesses are rapidly evolving as the sector pivots towards more sustainable business models in line with their ESG commitments and we must also evolve and innovate with them.
"We have long been a lead market in the energy space and Riaz's arrival will further broaden our skillset and product offering so that we continue to be a relevant partner to our clients."
"His appointment, the latest in a number of exciting new underwriting appointments for Hiscox London Market, firmly underlines our commitment to the energy sector for the long term."
" I'm excited to lead Hiscox's Energy team at a time of huge disruption for the energy industry.
"Lloyd's recent launch of its Sustainable Markets Initiative Insurance Task Force underlined the market's commitment to help businesses 'accelerate their transition to a sustainable future'."
"We want to play our part in that transition, by supporting our clients with the risk products and services they need as their business models adapt, in line with our own ESG ambitions."
About Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,000 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
Source: Reinsurance News