Congratulations on your first six months at Hiscox. What have been the highlights for you?
From day one, a highlight has been meeting my new Hiscox colleagues who have made me feel very welcome. I already feel like a piece of the Hiscox furniture! From a business perspective, we have successfully launched our new financial institutions (FI) offering to the market, taking our proposition on the road to the major broking houses; a great opportunity to explain more about Hiscox, Syndicate 33 and what we offer to FI brokers who may not have had much exposure to our business in the past. Of course, underwriting our first policy was also a good moment, as well as completing six months with the business plan on track.
How has business been over the first six months?
I’m pleased that we have quickly become a must-see FI market for London market brokers and internationally. That’s reflected in the healthy volume of risks we’ve already seen, representing FIs all the way from multi-national commercial banks to boutique hedge funds and start-up fintechs. In that time, business has been written for all the major London brokers who have welcomed our broad appetite, as well as our ability to underwrite multiple products backed by a €$£10 million line size on a primary and low excess basis.
What do you think Hiscox does differently compared to other carriers?
Other markets can launch an FI offering but few have the brand equity, heritage and expertise that Hiscox offers given we’ve been in business since 1901. Being a UK plc resonates with our current and prospective FI policyholders, as does our innovative approach to risk. Together with the service we offer from underwriting to our pricing, wordings and claims teams it represents a hugely compelling proposition. We have over 60 years’ combined experience in our claims team, for example, which helps provide the confidence clients need that the insurance they buy from us will deliver when it really matters.
Our FI launch also comes at a time when we're announcing other insurance lines within Hiscox London Market, such as our standalone cover for technology errors and omissions and a new sexual molestation liability cover; new products that reflect our ambition to evolve and stay relevant for our clients' risk challenges.
What trends are you seeing in the market in terms of demand for areas of cover for FI exposures?
The digital asset sector, including cryptocurrencies, stablecoins, and real-world asset (RWA) tokens, is experiencing a significant boom in 2025, driven by a wave of regulatory clarity and technological innovation. We are seeing institutional adoption in this area which, in turn, is driving increased demand for directors and officers’, professional indemnity and crime products.
As an insurer, we are approaching digital assets carefully and with the due diligence you would expect, but we recognise the opportunity to support our FI clients with class-leading insurance products and hold true to our mission to ‘embrace risk in an evolving world’.
What are your plans for the next six months?
More of the same! Q4 is traditionally the busiest quarter for the FI market, so Q3 will see us laying the foundations for the rest of the year with plenty of client meetings in London and overseas. I’m excited by the opportunities out there.