Tokio Millennium Re completes reshuffle
Tokio Millennium Re (TMR) has completed its reshuffle, which has seen Tatsuhiko Hoshina, the chief executive officer (CEO) step down.
Stephan Ruoff, the deputy CEO, succeeds Hoshina as CEO. Hoshina now becomes vice chairman and member of the board.
Ruoff has worked with TMR since 2011 when he joined as CEO of the Zurich branch. He was appointed chief underwriting officer of TMR in October 2013.
“I am delighted to be leading TMR into an exciting new phase of development” said Ruoff. “We have established a platform for a truly global company, with offices in Zurich, Bermuda, Sydney and Stamford (US), alongside a separately managed sister company in London. We are moving forward with a clear strategic plan in place as we continue laying down the tracks for success into the future.
“We aim to increase our relevance and further develop our relationships with our client-base to ensure we are seen as a ‘go to’ reinsurer. Our underwriting skills, as well as our renowned capabilities in bringing together the traditional reinsurance and capital markets will help make this happen,” he added.
Ruoff began his career with the IFP in Paris as an engineer in the field of crude oil refining before joining Munich Re as an engineering underwriter. From 1998 to 2003, he worked as chief engineer and underwriter for Munich Re in the Greater China region before taking over the role of general manager of Munich Re’s Paris branch in 2004. In 2008, Ruoff returned to Munich Re’s head office as executive client manager with responsibility for the French and Benelux markets.
Ruoff said: “We would like to thank Tats for his hard work and dedication to the company. He co-founded the company in 2000 and has worked tirelessly with clients, brokers and employees to create today’s strong platform.”
Hoshina added: “I would like to wish Stephan all the best in his new role. I am delighted to see the company’s leadership in such safe hands. Personally, I am looking forward to my new position and working with both TMR and the Tokio Marine Group.”