Tokio Solution Management Ltd., the collateralized reinsurance, insurance-linked securities (ILS) and reinsurance convergence facilitating arm of Tokio Millennium Re, has appointed Susan Lane and Tsuyoshi (“Harry”) Harigai as co-CEOs effective from 1st January.
The pair will assume leadership of Tokio Solution from current CEO, Kathleen Faries, who will become Head of the Bermuda Branch of Tokio Millennium Re AG (TMR) on 1 January 2016, as previously announced by TMR.
Lane, who is currently Senior Vice President and Head of Business Development at Tokio Solution, will lead the client-facing, business development activities including the units growth strategies, product development and marketing. Harigai will manage corporate operations at Tokio Solution. They will both share joint responsibility for day-to-day management.
Faries commented on the announcement; “We are delighted to announce Susan’s and Harry’s promotions to lead Tokio Solution. Both are highly experienced reinsurance professionals and I am confident in their abilities to maintain Tokio Solution’s standing as a pre-eminent, full service market facilitator. The appointment of Susan and Harry strengthens TMR’s third party capital strategy and will help to build on the services that Tokio Solution provides to our third party capital partners.”
Lane has over 15 years of experience in the insurance and reinsurance industry, including risk finance and risk management, specialising in business development with a focus on the formation and management of captives, insurance and reinsurance companies, alternative risk and insurance-linked securities (ILS) structures.
Harigai is currently Head of Operations for the Bermuda Branch of TMR and a member of the Tokio Solution Board of Directors, positions he will continue to hold after 1 January 2016. He joined the Tokio Marine group in 1995, beginning his career in the international insurance and reinsurance business as a reinsurance underwriter. Harigai previously played crucial roles within the Tokio Marine group in the setup of subsidiaries and M&A activities.