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EC News (7 November 2019)

November 07, 2019

Round-up of the weekly news and developments from the global (re)insurance market with stories from Tokio Marine HCC, AXA XL, Argo Group and more.

Tokio Marine HCC appoints Thomas Harmeyer as EVP

Tokio Marine HCC announced the appointment of Thomas Harmeyer to executive vice president, effective 1 October 2019.

Harmeyer joined Tokio Marine HCC in 2003 and most recently served as executive chairman for its Cyber & Professional Lines and Public Risk Groups.

In his new role, he will continue to oversee the Cyber & Professional Lines and Public Risk Groups, he will assume executive oversight for the Aviation Group, as well as the Claims, Business Innovation and Global Marketing functions and report to Mike Schell, Tokio Marine HCC’s president.

Harmeyer started his insurance career more than 25 years ago at the former Kölnische Rück (now GenRe).

He Previously held positions including president of Tokio Marine HCC’s Professional Liability and Public Risk Groups, and as chief underwriting officer for Professional Liability, Public Risk and Casualty since 2012.

Harmeyer served as HCC Global Financial Products’ underwriting director in Barcelona, Spain, before moving to Houston as vice president of underwriting in 2011.

Schell said: “In preparation for our 2020 strategic plans, we are excited to expand our leadership capabilities from within the organization. Thomas will bolster our Houston-based executive team, bringing years of field leadership from our growing Professional Lines and Public Risk Groups.”

AXA XL strengths its UK Life, Accident & Health Team with key hires

Global (re)insurer AXA XL have appointed Mark Campbell as underwriting manager and David walker joins as class underwriter to its Life, Accident & Health team.

Campbell will oversee AXA XL’s UK wholesale A&H underwriting operation, with responsibility for driving profitable growth across the portfolio. He will report to Patrick Corbett, chief underwriting officer, Life, A&H at AXA XL.

Campbell brings more than 20 years’ experience in the insurance industry and most recently served as a senior underwriter at Aspen Insurance since 2015.

Walker joins AXA XL from Pembroke Managing Agency, where he most recently worked as a personal accident underwriter.

He brings over 28 years’ experience, during which he held broking and underwriting roles at C.E. Heath Ltd, Johnson & Higgins Insurance Brokers, Aon Ltd, Tyser Insurance Brokers and Argo International. He will report to Campbell.

Additionally, the following AXA XL colleagues have been appointed to new roles: Toni LePine is appointed global product leader, retail accident & health; Andrew Maynard is appointed global product leader, aircrew, ships crew & mobility health benefits and Iain Rowe is appointed underwriting manager, life.

Commenting about the appointments, Corbett said: “I am delighted to welcome Mark and David to the team and to congratulate Toni, Andrew and Iain as they take on their new roles. As we move forward as one AXA XL, having the right team in place will be key as we drive the strategic and profitable expansion across our life, accident & health business and continue to provide the high level of service our clients have come to expect from us.”

Argo Group announces CEO retirement

Argo Group International Holdings announced the retirement of Mark E. Watson lll as chief executive officer. President of Argo Group US Kevin J. Rehnberg has been named interim CEO, both effective immediately.

Watson will continue to serve as a member of the Board and as an advisor to the Company until December 30, 2019 to ensure a smooth transition. 

On behalf of Argo’s Board of Directors, chairman Gary V. Woods said: “The Board thanks Mark for his 20 years of service and his leadership in building the business and wishes him well in his next endeavour.”

Watson, said: “It has been a great honor to build and lead this great company, and I look forward to its continued success under Kevin Rehnberg’s leadership.”

Woods added: “Argo’s Board of Directors has complete confidence in Kevin’s ability to lead the Company. Kevin’s extensive leadership experience, including his strong track record running our Americas business, will ensure a smooth transition and position the Company for continued growth and performance.

Rehnberg said: “It is an honor to take on the interim CEO role and along with Argo’s talented leadership team, I’m proud to serve our clients and distribution partners. Argo is well positioned to continue delivering strong results for shareholders through profitable underwriting, long-standing relationships with distribution partners, operational excellence and disciplined capital management. We have also demonstrated the ability to unlock significant efficiencies and enhance customer service through technology and innovation. I will remain focused on these operating strategies.”

Swiss Re appoints CFO for Reinsurance business

Swiss Re has announced the appointment of Claudia Cordioli as chief financial officer (CFO) of its global reinsurance business unit, effective from 1 February 2020.

Cordioli will succeed Gerhard Lohmann, who is pursuing an opportunity outside Swiss Re and will be leaving the company towards the end of February 2020.

In her new role, she will report to Moses Ojeisekhoba, CEO Reinsurance, and become a member of the reinsurance management team, based in Zurich.

She currently serves as head Western & Southern Europe (WSE) for reinsurance at Swiss Re leading business in 15 countries. She joined Swiss Re in 2003 and brings almost 2 decades of financial services industry experience.

Since then, she has held a variety of positions within the Group’s Finance functions, including CFO for EMEA and head of group external reporting.

Swiss Re added that a successor to Cordioli’s position as head Western & Southern Europe for reinsurance will be announced in due course.

Ojeisekhoba said: “In Claudia Cordioli we found a very strong internal successor for the CFO role, which will ensure continuity for our business. She has done a remarkable job in running the western and southern Europe region for reinsurance, and she remains fully committed to support our clients there through the upcoming renewal period. I would also like to thank Gerhard for his strong contribution over the past seven years.”

Apollo Syndicate appoints Vinay Mistry as chief risk officer

Specialist (re)insurer, Apollo Syndicate Management adds Vinay Mistry as its chief risk officer, effective 1 November 2019.

In his new role, Mistry will report to chief executive officer, David Ibeson.

Mistry brings over 16 years industry experience to the role, with a specialist focus on capital management, pricing and reinsurance. Prior to joining Apollo, Mistry served as chief risk officer and executive director at the Channel Managing Agency where he led the risk, actuarial, data science and exposure management functions.

Ibeson commented: “Apollo is a lead market for a number of key Lloyd’s accounts and participates actively in a range of market consortia. Vinay’s experience at Lloyd’s and knowledge in the risk space will therefore be an important addition to our team and significantly strengthen our capacity in this area.

“We are growing talent in the actuarial department as we deliver our underwriting commitment and his appointment is a crucial step towards completing this transformation. We would therefore like to warmly welcome Vinay to Apollo.”

Marsh appoints new Manchester head of office

Marsh has announced Mark Mansfield as the new head of office, corporate division, Manchester. He will report to Allan McPherson, regional managing director for North of England & Scotland, Corporate Division.

In his new role Mansfield assumes overall responsibility for Marsh’s Corporate clients in one of the firm’s largest regional UK offices outside London.

Marsh’s Corporate Division provides insurance broking, risk advisory and claims services to a wide range of organisations, from growing local businesses to multinational companies, across the UK.

Mansfield joined Marsh in 2015 and previously focused on bid management and new business development. Before joining Marsh, he held several senior roles at Arthur J. Gallagher.

Commenting on the appointment, McPherson said: “With his specialist industry knowledge and regional insight, Mark is well-placed to lead Marsh’s Manchester office and deliver the best of the firm to our Corporate clients across the region. I look forward to working with him as he further develops Marsh’s business operations in Manchester.”

Mansfield added: “Greater Manchester is a great place to grow or start a business. However, many organisations are faced with an increasingly complex array of risks which are being created by wider economic, geopolitical and technological pressures. I’m excited to take the helm of Marsh’s office in my home city. Aside from time away at university, I’ve lived and worked in Manchester all my life and am proud to be part of its thriving business community.”