Insurer bringing 500 jobs to city
and £25m annual income boost

Specialist insurer Hiscox yesterday revealed that it had chosen York as the base for its largest UK office because bosses were impressed by the high quality workforce, and the enthusiasm of the local business community.

Hiscox has established a temporary office in Hungate, which should employ 50 to 60 staff by the end of the year.

A spokesman said the number of people Hiscox employs in York could rise to 500 when a permanent site opens in Hungate in late 2014. York Council has been working with Hiscox and York-based developer S Harrison Group to support the company’s move into Hungate.

The sale of the site to the developer will allow for the creation of an office complex for Hiscox and an £18m, 262-bedroom hotel on the site, creating a further 100 jobs.

Steve Langan, the managing director for Hiscox in the UK and Ireland, said the company had considered at least eight “quality locations” in the UK, before choosing York.

He insisted cost was not the deciding factor in choosing the city, adding: “We chose York because of the educated workforce, the good transport connections and infrastructure and the number of airports in the area.

“Another factor was the welcome we received from the local business community and politicians,” he added. “They went above and beyond everywhere else. York won pretty convincingly in the end.”

Mr Langan also praised the visionary approach of the local council, who had helped to convince Hiscox to establish a large base in York.

He said the jobs created in York would include opportunities for human resources professionals and solicitors.

“These are all roles that bring in incomes significantly above the national average,” he added.

According to Mr Langan, Hiscox is willing to recruit people who have no insurance industry experience, but the right attitude.

“There has been a strong interest from other employees in other parts of the country, who want to come and work in York,” he added.

“People have been queuing up to come. It’s an attractive city in a great part of the world.

“We have been winning throughout the recession,” he added. “Our growth has accelerated over the last few years.”

Altogether, Hiscox has 375 staff in the UK, and its income is around £400m per year. In 2005 its annual income was around £100m.

“We understand risk better than the competition. We won’t play ‘the computer says no’ game,” Mr Langan added.

“Over the long run, the high quality play in service will beat low quality.

“Our central mantra is that we will be as good as our word,” Mr Langan added. “We never aim to be the biggest, but we aim to be the best.”

According to Mr Langan, Hiscox’s investment in York could bring an estimated £25m a year boost to the local economy, through job creation and other knock-on benefits.

York Council gave its approval to plans in 2006 to transform the semi-derelict Hungate site with new homes, a riverside piazza, walkways and cycle paths.

Hiscox, which has its headquarters in Bermuda, is an international specialist insurer, underwriting a range of personal and commercial insurance risks.

It provides home insurance cover for more than 47,000 homes in the UK.

It also provides extensive business insurance, tailored to the needs of more than 110,000 small and medium-sized enterprises, professionals and consultants in the UK.

Mr Langan joined Hiscox in 2005 after working for a number of blue chip companies.

Before joining Hiscox, Mr Langan worked at the drinks company Diageo, where he was managing director of the company’s Italian subsidiary.

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