Insurtech AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has announced that former TMR executive Tatsuhiko Hoshina has joined its advisory board.
Hoshina was involved in building up Tokio Millennium Re from its establishment in 2000 as a $125 million Bermuda property-cat reinsurer, before then leading it from 2006 into a $1.2 billion global, multi-line reinsurer with offices in Zurich, Bermuda, Sydney and Stamford (US), alongside a separately capitalised sister company in London.
AkinovA said that Hoshina brings with him a wealth of experience across the whole reinsurance value chain, across multiple lines of business and geographies, adding that he has been regularly cited as one of the most influential people in reinsurance.
According to AkinovA Hoshina’s focus will be to assist it in establishing its position as the leading platform to transfer and trade Cyber and PropCat risks. Drawing on his in-depth knowledge of the reinsurance markets, Hoshina will assist to further develop the AkinovA ecosystem as well as drive growth and participation across the marketplace.
“AkinovA has achieved much over the last year,” said Hoshina. “I believe that the timing is right for an electronic marketplace: they have the right proposition at a time when capacity providers need more liquidity and frictional costs are scrutinised.”
“This is also at a time when cyber risks offer an unprecedented growth opportunity but need electronic risk transfer to match what is a highly dynamic landscape. This requires the use of cutting-edge technology.
“We are seeing a gradual change in the mindset, prompted by a new generation joining the industry. They have different expectations compared to the older generations and it is a mindset that is very different to that of 20 years ago.”
Hoshina concluded by saying: “AkinovA will be the platform that will pioneer the way the market transacts reinsurance business in the future.”
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