24 July 2018Insurance

Tokio Marine hires Chubb surety head in Europe

Specialty insurance group Tokio Marine HCC has appointed Luc Reuter as head of surety for Continental Europe as it further expands its international surety capabilities.

Reuter joins Tokio Marine from Chubb where he developed and directed the company’s European surety business as head of surety for Europe for the last six years. Prior to that, he held an equivalent position within Zurich for the preceding twelve years. Reuter is a former chairman of the surety committee of the International Credit Insurance & Surety Association (ICISA).

Reuter will divide his time between Tokio Marine HCC’s operations in Frankfurt and Luxembourg in order to develop and direct a surety practice across Europe, supporting clients with their domestic and international surety needs through Tokio Marine HCC’s global network. Reuter will report to Martyn Ward, managing director, international credit & surety. The appointment is effective as of Sept. 1, 2018.

Ward commented: “In order to support and enhance the ongoing growth within our successful international surety operations, we are investing in a number of key markets. I am therefore delighted that someone of Luc’s profile and ability is joining us to further expand our surety proposition for European clients in order to grow our platform even further and building on our surety business, which has grown consistently over the last thirty-five years. Luc’s expertise, along with Tokio Marine HCC’s focus on service delivery which is backed by the company’s profile and rating, will prove a compelling offering for both clients and brokers.”

Barry Cook, chief executive officer of Tokio Marine HCC - international group, added: “Through its global presence and superior credit rating, Tokio Marine HCC has a proven ability to meet our clients’ surety needs in our chosen markets. I am therefore delighted that someone of Luc’s calibre and experience is joining us to expand our surety proposition for European companies beyond that of our current successful surety operation. As a recognised international surety expert, his extensive knowledge and deep understanding of international markets will be a great asset in our plans to further develop our International Surety division.”

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More on this story

24 July 2018   Tokio Marine Holdings and Intact Financial are leading a $90 million investment in San Francisco-based startup MetroMile, according to a July 23 Bloomberg News report.
18 July 2018   Tokio Marine HCC has bolstered its management structure with several promotions within the specialty group that provides insurance products for the sports, entertainment and travel industries.
27 July 2018   Specialist insurer Tokio Marine HCC has appointed Susan Rivera as its next chief executive officer effective Sept. 1, replacing current CEO Christopher Williams.