Hiscox has promoted Kate Markham to the newly established position of CEO of the carrier’s London Market business.

The announcement comes as Hiscox prepares itself for market changes and modernisation in the London insurance and reinsurance market.

Within her new role, Markham will work closely with Paul Lawrence, CUO of Hiscox London Market and joint active underwriter for Syndicate 33. Both Markham and Lawrence will be on the Hiscox Ltd executive committee.

Prior to her promotion, Markham was managing director of Hiscox UK Direct – the carrier’s UK direct to consumer operation – and was responsible for leading more than 200 people across underwriting, sales, marketing, operations, and delivering growth of 30 percent over five years, Hiscox said.

Markham began her career at Anderson Consulting (now Accenture) and then joined Vodafone where she served as head of international Enterprise before joining Hiscox.

Commenting on the appointment, Hiscox CEO Bronek Masojada said: "At Hiscox and Vodafone Kate has proven her ability to build profitable businesses in highly competitive markets.

"She will be a modernising force for our operations and culture, and relentless in making the most of the changing market and the opportunity it presents. The London Market will benefit from these skills now more than ever."