Executives On The Move at Hiscox, Guy Carpenter, Assurant and More

Hiscox is bringing on a former Prudential executive in a key international role. Guy Carpenter hired on two new executives. Two former AIG executives are joining Ryan Specialty Group. Assurant turned toward a former Verizon executive to fill its first-ever chief technology officer slot.

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A former Prudential plc executive is joining the Hiscox Group as group chief financial officer.

Akbar (“Aki”) Hussain spent seven years at Prudential, most recently as chief financial officer of Prudential UK & Europe. Also, he sits on the board of the Prudential Assurance Co. Ltd., the main UK insurance operating company.

Before Prudential, Hussain held a number of senior roles in the financial services, telecommunications and media sectors.

At Hiscox, Hussain will lead and help further develop the finance function and oversee its investments. He’ll join in the second half of 2016, after he fulfills current contractual commitments. At that point, he’ll join the Hiscox Ltd. board.

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Guy Carpenter & Company LLC promoted Peter Stubbings to CEO of its Bermuda operations, effective immediately.

The risk and reinsurance specialist/ Marsh & McLennan company said that Stubbings, previously, chairman of the Bermuda office, will be responsible for both the Retrocession and International Reinsurance Treaty practices. Also, he’ll continue to oversee new business development and the wholesaling of the firm’s U.S. business into the Bermuda market.

As before, Stubbings will report to Kevin Fisher, CEO of Global Specialties.

Separately, Richard Keegan will join the Guy Carpenter Bermuda team in May, as senior vice president. The Aon Benfield veteran will work closely with the Retrocession team, and also support the wholesaling of the U.S. business. He’ll report to Stubbings.

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Two former AIG executives are joining Ryan Specialty Group in leadership roles. The firm is a global holding company based in Chicago that includes a wholesale brokerage, highly-specialized underwriting companies and specialty services targeted to agents, brokers and insurers.

The appointments:

• Jorge Pecci will become president and CEO of the new specialty marine underwriting manager at Ryan known as “Safe Waters.” He’ll be responsible for helping to grow all parts of the division’s specialty marine business, initially in the U.S. and Latin America, with a focus on yacht and cargo. Previously, Pecci was AIG marine regional executive for the Americas, and started his career with AIG in 1993.

• Ray Stahl, meanwhile, is joining Safe Waters as a senior vice president to head the yacht practice. Previously, he was a senior vice president, global recreational marine practice for AIG, where he had been since 2007. Before AIG, Stahl was senior vice president, recreational marine for ACE.

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Assurant, a property insurer and provider of lifestyle specialty protection products, named a first-ever chief technology officer at the company.

Ajay Waghray will fill the slot as of May 9. His mission will be to drive technology strategy and align IT with Assurant’s global business objectives.

Waghray will be based in Atlanta and report to Assurant president and CEO Alan Colberg.

Most recently, Waghray was chief information officer for Verizon Enterprise Solutions, which provides products and services to a global customer base.

Sources: Hiscox, Guy Carpenter, Ryan Specialty Group, Assurant.