Hiscox Ltd. named Kate Markham CEO of its London Market business, a newly created position.

Markham most recently was managing director of the insurer's U.K. direct to consumer operations. For the new role, she will be working with Paul Lawrence, chief underwriting officer of Hiscox's London Market operations and joint active underwriter for Lloyd's of London Syndicate 33.

Markham and Lawrence will serve on the executive committee of Hiscox.

The appointment is subject to regulatory approval.