Former Man Group chief executive Peter Clarke is set to take the helm at Hiscox, the FTSE 250-listed insurer, as it looks to streamline operations and drive long-term cost efficiencies, according to a report by Reuters.
Clarke, who led hedge fund giant Man Group from 2007 to 2012 during one of the most turbulent periods in the industry, will step in as chairman designate of Hiscox ahead of formally taking over the role on 1 July. He succeeds Colin Keogh, who has been serving as interim chair following the death of former chairman Jonathan Bloomer last year.
During his tenure at Man Group, Clarke oversaw the firm through the global financial crisis, navigating widespread client redemptions and overseeing major structural shifts in the business. His deep experience in alternative asset management and public markets governance is seen as a strategic asset as Hiscox embarks on a major operational transformation.
The insurer recently announced plans to unlock $200m in efficiency gains by 2028 as it restructures to achieve global scale and cost savings.
Clarke’s appointment underscores a broader trend of traditional financial institutions drawing on hedge fund leadership expertise to enhance risk management, technology integration, and shareholder alignment.
Clarke currently holds board positions at several financial firms and is well-regarded for his strategic acumen in capital markets and fund governance.
