Bermuda-based insurer Hiscox Ltd. said it plans to expand its offices to several cities in the United States and will increase its offerings of specialty insurance.
Hiscox said that in addition to its existing offices in Armonk, N.Y.; Manhattan; Chicago; Geneva, Ill.; and San Francisco, the group plans to have established offices in Lexington, Ky.; Boston; Kansas City, Mo.; Miami; and Los Angeles by the end of 2009.
In the United States Hiscox's terrorism, media and technology, small ticket director, officers and equine teams are being strengthened with 10 key appointments.
Hiscox said it plans to set up new lines in property, construction and inland marine insurance. The company will also enhance the service it currently provides to the Latin American kidnap and ransom market with a new team based in Miami.
The company earlier this week received a rating upgrade from Standard & Poor's to "A" from "A-minus." (See NU Online Dec. 1.)
Bronek Masojada, chief executive, said in a statement that "the tide is continuing to turn in our favor. The changing insurance market has presented us with a number of excellent opportunities particularly in the [United States] and we are enhancing our local expertise to take full advantage."
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