Tokio Solution co-CEO leaves company as it "simplifies" management

Tokio Solution, the third party capital (TPC) markets facilitation arm of Tokio Millennium Re (TMR), has restructured its senior management as part of a wider review of TMR's TPC strategy.

The co-CEO of Tokio Solution, Susan Lane, has left the company and Tsuyoshi (Harry) Harigai has been appointed as its sole CEO.

Harigai joined Tokio Marine Group in 1995, and has more than 20 years of experience in re/insurance.

The simplification of Tokio Solution's management structure is in order to focus resources on account management and technical portfolio support for TPC partners

This follows the formation of TMR’s Capital Solutions unit in 2015, with the unit now serving as the driver of convergence-related product development and innovation.

“We conducted a strategic review of Tokio Solution aimed at operational efficiency to provide the best possible service to our TPC partners in a way that simplifies the organisational structure supporting our TPC strategy, while simultaneously leveraging the resources of TMR and its Capital Solutions unit,” commented Kathleen Faries, member of the Tokio Solution board of directors and head of Bermuda for TMR’s Bermuda branch.

Lane’s role as co-CEO was no longer required as a result of the restructuring, Tokio said.

Faries added: “We thank Susan for her hard work and the contributions she has made since joining Tokio Solution nearly two years ago. We wish Susan all the best in her future endeavours.”

Butch Agnew, will remain vice president of ILS portfolio management and Dave Courcy will remain vice president of structuring and finance.