S&P WELCOMES ‘CONSISTENCY’ OF HISCOX CEO SUCCESSION

S&P Global Ratings has welcomed the announcement that Aki Hussain will succeed Bronek Masojada as chief executive of specialty insurer and reinsurer Hiscox. Masojada is to retire at the end of this year following 21 years as group chief executive. By appointing Hussain, Hiscox had chosen “consistency” with an “insider” CEO, S&P said. The ratings agency does not expect significant strategic changes when Aki Hussain, currently chief financial officer at Hiscox Group takes over as CEO in January 2022. “The appointment of Hussain therefore represents a meaningful transition for the company, but we believe he will maintain the group's long-term strategy. The change has no immediate impact on our ratings on Hiscox,” it said in a statement. Masojada, who joined Hiscox in 1993 from McKinsey, will remain in post until the end of the year.