Tokio Marine expands into Mexico with new subsidiary targeting surety market

Specialty insurance group Tokio Marine HCC has formed a new Mexican subsidiary to further expand its international surety operations.

The new entity, Tokio Marine HCC Mexico Compania Afianzadora, S.A. de C.V. (TMHCC Mexico), will provide surety bonds to Mexican-domiciled organisations and enables Tokio Marine HCC's surety group to produce business for customers in the US, Japan, Europe and other countries worldwide with surety needs in Mexico.

TMHCC Mexico will be led by Francisco “Pako” Barajas Aguilera as chief executive officer. His team includes Carlos Mireles as chief operating officer, Rocio Sosa as chief underwriting officer, Carlos Huacuja as chief claims officer, and Irma Raya as operations manager. Barajas Aguilera will report to Adam Pessin, Tokio Marine HCC - surety group’s chief executive officer.

Prior to joining Tokio Marine, Barajas Aguilera managed the surety operations of Chubb de Mexico, Compania Afianzadora, S.A. de C.V. He has over 30 years of surety experience in the Mexican surety market.

“Tokio Marine HCC’s financial strength and international surety expertise provides us with an excellent platform to grow a best-in-class Mexican surety business,” said Barajas Aguilera.

Pessin added: “We are excited to form TMHCC Mexico and delighted to have such an experienced and capable team led by Pako. This expansion into Mexico will broaden our surety footprint and complement our already strong worldwide surety portfolio.”

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