Michael Gould to take over managing director post.

Hiscox has announced that managing director, Hiscox Europe, Marc van der Veer, will be leaving the Group. Michael Gould, Group chief operating officer, will assume van der Veer's responsibilities with immediate effect.

Bronek Masojada, chief executive, Hiscox, said: “I would like to thank Marc for the contribution that he has made to our business since joining in 2005. Thanks to his underwriting expertise and business development focus, Europe has expanded in size and profits. In 2004, it was an €86 million business with marginal profitability. Today it is on track to write €125 million with a combined ratio within our 95-98% target. I have enjoyed working with Marc and I wish him all the best for his future endeavours."

He added: “Since joining Hiscox this summer as chief operating officer, Michael Gould has also been chairman of the European steering group. Michael’s continued leadership in this area will ensure we continue to focus on our business goals.”