Operations/tech
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The executive will be tasked with growing the broker’s east coast business and brings deep experience in forming captives.
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The acquisitive PE-backed broker acquired businesses including Associated Benefits and Risk Consulting last year.
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InsureTrust founder and CEO Steve Haase is to retire following the sale.
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The executive, who has worked as a management liability underwriter, joined Hiscox in 2009 after nearly nine years at AIG.
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The deal including 2019 and prior-year business covers about $500mn of loss reserves.
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Jonathan Ritz will lead the target company, while existing CEO Hannon moves to become president. -
The acquisition from IA Capital is due to close in the second quarter.
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The outgoing finance chief will stand down in July but stay on in an advisory capacity until the end of the year.
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The broking and consultancy giant says it will also reduce carbon emissions to 15% below 2019 levels by 2025.
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On an annual basis, lawsuits were 1% up on 2019 despite success in cutting back AOB cases.
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Scully fills a gap left by the departure of Steve Hartwig to Ark last year.
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The new recruits are the latest in a raft of appointments to the new business division.
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