HSB scoops new chief underwriting officer from insurtech unicorn

Specialist insurer HSB has today (26 January 2023) appointed Niraj Shah as its new chief underwriting officer for UK and Ireland.

Shah joins from insurtech unicorn Zego, where he served as managing director and interim chief financial officer. At Zego, Shah helped set up the firm’s insurance carrier in Gibraltar.

He brings over 26 years of insurance industry experience to the role, having also worked in positions such as chief actuary at Groupama Insurance Company and underwriting director at Ageas UK.

In his new role, based in London, the appointee will be responsible for underwriting standards and strategy, as well as leading the underwriting standards and strategy team. He will report to HSB chief executive Stephen Worrall.

Shah succeeds Stephen Morris, who will continue to support HSM’s strategic business priorities until his retirement later this year.

Warm wishes

Worrall said: “I want to thank Stephen for his outstanding contribution to HSB over the last 15 years – he’s been instrumental in revising our underwriting strategy, supporting our growth ambitions and implementing new technologies and underwriting development.

“After 40 years in the insurance industry we will miss his experience, but wish him all the best in his retirement.

“We are delighted to welcome Niraj to HSB. As data insights and analysis, together with pricing strategies become more critical across all our UK and Ireland businesses, Niraj’s background and experience will further complement our leadership team.

“His substantial experience and strong track record in the sector make him an excellent fit for HSB to help drive our ambitious plans for the business forward.”