Kathleen Reardon is to become chief executive officer of Hiscox’s reinsurance and insurance-linked securities business.

The former CEO of Hamilton Re will replace Mike Krefta, who will step down in early 2021 as previously announced.

Ms Reardon will sit on Hiscox's group executive committee and will be based in Bermuda, leading the Hiscox Re & ILS teams operating from Bermuda and London.

Ms Reardon left Hamilton Re, where she had been CEO for six years, earlier this year. She had joined Hamilton in 2013 as chief underwriter (property), before becoming CEO the following year.

She spent her early career at Ace in a variety of actuarial and underwriting roles, rising to chief underwriting officer for international property at Ace Tempest Re in 2005, based in Bermuda.

Ms Reardon is a Fellow of the Casualty Actuarial Society, served in 2020 as the chairwoman of the Reinsurance Association of America, and is the former chairwoman of Women in Reinsurance – an organisation she co-founded.

Bronek Masojada, chief executive of Hiscox, said: “Kathleen brings the market knowledge and leadership skills we need to ensure that Hiscox Re & ILS can take advantage of a hardening market and deliver good returns to our reinsurance partners, ILS investors, and shareholders.

“She will also ensure our offering to cedents evolves as the market evolves. I look forward to working with her and benefiting from her fresh perspective.

“I would also like to thank Mike Krefta our current CEO of Hiscox Re & ILS. Mike joined in 2003 as a management information analyst and rose through the ranks to become CUO and then CEO for the last four years. Through his underwriting expertise, energy and commitment, Mike has made an impressive contribution to Hiscox. This includes Mike’s efforts as executive sponsor for our ESG commitments, he has passionately brought together activities from across the group to form a comprehensive plan gaining the support of the board, colleagues and external stakeholders. He leaves with our very best wishes for the next chapter.”