Richard Watson back in London as UK chief underwriter heads to US

Richard Watson, Hiscox

Hiscox USA chief executive Richard Watson is returning to the UK to take up the role of group deputy chief underwriting officer.

The move ends Watson’s three-year term in the USA. Ben Walter, currently chief operating officer at Hiscox USA, will become chief executive on 1 April.

Also as part of the reshuffle, Gary Head, currently chief underwriting officer of Hiscox UK, will join the US management team as chief underwriting officer on 1 May.

“In his short time at Hiscox, Ben has demonstrated great leadership, implementing significant changes in our operations for the benefit of brokers and customers, and it gives me great pleasure to promote him to CEO,” Hiscox group chief executive Bronek Masojada said in a statement.

“The US management team is also now bolstered by the legendary underwriting expertise of Gary Head.”

He added: “I know these changes will help Hiscox USA maintain their momentum in building a profitable and respected insurance business.”