Monday 19 November 2018 - Company news

Tokio Marine Group receives approval to complete its Part VII transfer ahead of Brexit

Tokio Marine Group has announced that it has received approval from the High Court of England and Wales to complete the Part VII process of transferring the existing portfolio of policies written out of Continental European operations to its newly established insurance company subsidiary, Tokio Marine Europe S.A. (TME), in preparation for the UK’s exit from the European Union (EU).

Tokio Marine HCC today announced the appointment of Darren Carr as Head of Marine Liability to support its growth strategy in the Marine insurance market as it develops its product offering, including: Marine Trades, Marine Property, Protection and Indemnity (P&I) Reinsurance, and Marine and Energy Liability. Darren will report to Simon Button, Chief Underwriting Officer – London Market division.

Darren started his career at Hiscox and has over sixteen years of extensive experience in the Marine Liability market. He joins Tokio Marine HCC from AXIS Capital (formally Novae), where he worked as Head of Marine and headed up various underwriting teams, including Marine Liability, Hull, Cargo and Specie, Reinsurance and Renewable Energy. In previous roles, Darren consistently developed market leading business lines and will continue to advance Marine insurance offerings at Tokio Marine HCC.

Simon Button, Chief Underwriting Officer – London Market division of Tokio Marine HCC – International Group, commented: “I am delighted that Darren has joined the Marine team. His experience and knowledge of the industry will help Tokio Marine HCC advance and invest in the Marine Liability space.”

Barry Cook, Chief Executive Officer of Tokio Marine HCC – International Group, added: “The London Market division continues to grow, withstanding challenging market place conditions. Recruiting reputable and experienced hires such as Darren highlights the steps that Tokio Marine HCC is taking to continually improve its offering to the broker and client community that is at the heart of our business.”