Tokio Solution, the Bermuda-based third party capital (TPC) arm of Tokio Millennium Re (TMR), has announced changes to its senior management as part of a wider restructuring and review of its TPC strategy.
Susan Lane, the co-CEO of Tokio Solution, has now left the company and Tsuyoshi (Harry) Harigai has been appointed as its sole CEO. Lane’s role as co-CEO was no longer required as a result of the restructuring, Tokio said.
Harigai joined Tokio Marine Group in 1995, and has more than 20 years of experience in re/insurance. This follows the formation of TMR’s Capital Solutions unit in 2015, with the unit now serving as the driver of convergence-related product development and innovation.
“We conducted a strategic review of Tokio Solution aimed at operational efficiency to provide the best possible service to our TPC partners in a way that simplifies the organisational structure supporting our TPC strategy, while simultaneously leveraging the resources of TMR and its Capital Solutions unit,” said Kathleen Faries, member of the Tokio Solution board of directors and head of Bermuda for TMR’s Bermuda branch.
Faries added: “We thank Susan for her hard work and the contributions she has made since joining Tokio Solution nearly two years ago. We wish Susan all the best in her future endeavours.”
Butch Agnew, will remain vice president of ILS portfolio management and Dave Courcy will remain vice president of structuring and finance.
Tokio Solution, Bermuda, Tokio Millennium Re, Insurance, Reinsurance, Appointment, Susan Lane, Tsuyoshi Harigai, Kathleen Faries, Butch Agnew