Celebrating Britain's 101 Most Influential Asians 2024

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Aki Hussain


FOR Aki Hussain, delivering positive results on the business front is part of a personality trait that always look forward with energy and innovation as its rocket fuel. His sound strategic thinking, professional discipline and patience have allowed Hiscox to be at the very forefront of the UK insurance in dustry. In August 2023, he revealed how a stra tegic decision to conserve capital in recent years yielded substantial profits at the outset of the year. His company Hiscox, a globally diversified insurance conglomerate, reported a pre-tax profit of £207.8m in the first half of 2023, marking a significant surge from the £19.6m record ed in the same period of 2022, the year Hussain took over as its CEO, leading a company he loved for its culture, ethos and scale of opportunity.

This surge was propelled by escalating premium rates and the adept allocation of capital, at a time when competitors grappled with challenges. In an interview, Hussain said that the strong profit was not accidental and every busi ness sector was witnessing growth. His profound financial acumen has been in strumental in Hiscox’s growth, enhancing revenue and profitability while effectively managing risks and upholding financial rigor. Hussain’s rise in Hiscox has been steady. Born in Yorkshire to Pakistani immigrant parents, Hussain took over the reins of the CEO from Bronek Masojada at a time when challenges were aplenty. The company grappled with a significant reputational crisis following the Covid-19 lock down, one of its most severe challenges that it faced in its 120-plus-year history. The pandemic prompted numerous small business clients of Hiscox to suspend operations. Despite their attempts to claim coverage, Hiscox denied pay outs, citing policy exclusions for government-imposed lock downs. While legal disputes ensued and companies suffered, Hussain stood firm on his position, albeit acknowledging the

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