TMR’s Capital Solutions launch proves commitment to space
Stephan Ruoff, the chief executive of Tokio Millennium Re (TMR), told Monte Carlo Today that the launch this week of Capital Solutions, its new capital markets unit, highlights the importance the company places on its links into this space.
He said the purpose of Capital Solutions was to enhance the company’s reach into the capital markets. The unit will focus on developing new capital markets products and leveraging the use of technology to transact business with TMR’s capital markets partners.
It will coordinate the work of TMR and Tokio Solution, a wholly owned subsidiary of TMR, which both work with the capital markets in a variety of ways. Tokio Solution will remain the distribution hub in managing and facilitating reinsurance-linked contracts and structures.
Capital Solutions will be headed up by Edwin Jordan, now head of TMR Bermuda, from TMR’s Bermuda office. Kathleen Faries, currently the chief executive of Tokio Solution, will replace him as head of Bermuda from the start of 2016. A replacement for Faries is being sought.
“Capital Solutions draws together a number of disciplines such as IT, analytics, traditional reinsurance and insurance-linked securities (ILS) to work holistically with our risk position and with investors,” Ruoff said.
“It will bring the whole management system together. It means TMR will be able to offer greater capacity to its cedants, and will help TMR manage its overall portfolio as well as better engage with capital markets partners on a number of fronts.”
He added: “The management appointments we have made also underscore our view that the synergy and collaboration across TMR and Tokio Solution in executing upon our capital markets strategy will be key to our future success.”
