Hiscox names new line underwriter in energy

Specialist insurer Hiscox, has appointed Riaz Thanduparakkal as Line Underwriter – Energy to lead its underwriting team in developing their product offering for the energy sector as it transitions towards a cleaner and greener future. Thanduparakkal will be based in Hiscox’s London office.

He joins from Chubb Group where he recently held roles including Product Head, Energy within their London market specialty wholesale division and Head of Multinational and Network Development, Energy. Prior to that he was an Account Manager for Marsh UK Limited’s Energy practice. He has also held roles with Lloyd’s broker Crispin Speers & Partners and Oman Insurance in Dubai.

Reporting to Mike Southgate, Hiscox’s Divisional Director for Marine, Energy and Specialty, Thanduparakkal will lead a team of experienced energy underwriters – including Lorraine Mackey Louis Cozon.

Southgate said that “our energy clients’ businesses are rapidly evolving as the sector pivots towards more sustainable business models in line with their ESG commitments and we must also evolve and innovate with them.

Thanduparakkal said that “I’m excited to lead Hiscox’s Energy team at a time of huge disruption for the energy industry. Lloyd’s recent launch of its Sustainable Markets Initiative Insurance Task Force underlined the market’s commitment to help businesses ‘accelerate their transition to a sustainable future’. We want to play our part in that transition, by supporting our clients with the risk products and services they need as their business models adapt, in line with our own ESG ambitions.”