Hiscox has announced the appointment of Shali Vasudeva (pictured) as its new group chief operations and technology officer (COTO).
Vasudeva, who will be based in London, joins the insurer after five years as chief operating officer at AXA UK & Ireland. She will also join the Hiscox Group Executive Committee.
In her previous role, Vasudeva oversaw digital transformation and operational initiatives at AXA UK & Ireland, gaining experience in managing large-scale transformation projects and implementing technological advancements. This expertise, Hiscox says, aligns with its plans for operational and technological development to support its growth objectives.
Hiscox Group CEO Aki Hussain noted that Vasudeva is already familiar with the company, having led a change initiative for the UK and Europe prior to the implementation of Brexit rules.
“Shali is no stranger to Hiscox, having led the change initiative for UK and Europe in the run-up to Brexit rules being implemented. Her wealth of experience and strategic vision will be invaluable as our operational and technological evolution continues,” Hussain said.
Vasudeva stated that she is pleased to return to Hiscox, emphasising the company’s history, ambition, and focus on innovation. She said she looks forward to building on the work done by her predecessor, Stephane Flaquet.
Flaquet, who held senior leadership roles across the organisation, is leaving Hiscox after contributing significantly to the company’s operations.
“Stephane has been a strong contributor to Hiscox for many years and has held a number of important senior leadership roles across the Group. We wish him all the best with his next steps,” Hussain said.
In November, the insurer also released its trading statement for the first nine months ending September 30, 2024, reporting insurance contract written premiums across its business units.
For Hiscox Retail, premiums increased by US$99 million, or 4.4% in constant currency, to US$1,922.6 million, compared with US$1,823.6 million during the same period in 2023. Retail premiums rose by 2% across markets, with growth observed in all three regional businesses.
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