(Reuters) -British insurer Hiscox said it had appointed Peter Clarke, former CEO of hedge fund Man Group, as chair designate on Thursday.
Clarke will take over from interim chair Colin Keogh starting July 1.
Hiscox shares rose 0.9% as markets opened, slightly outperforming the FTSE 100 index.
Hiscox’s previous chairman, Jonathan Bloomer, died nine months ago in a drowning incident on British tech tycoon Mike Lynch’s family yacht.
Hiscox last week said that it expected to make efficiency gains of $200 million from 2028 onwards, by overhauling its operations to cut costs and unlock scale across its global insurance business.
Clarke was CEO of hedge fund Man Group from 2007 to 2012, while the fund came under pressure as clients pulled their cash during the financial crisis.
(Reporting by Yadarisa Shabong in Bengaluru and Elizabeth Howcroft in Paris; Editing by Sherry Jacob-Phillips and Tomasz Janowski)
