Tokio Marine taps Hiscox for European legal & compliance head
Specialty insurance group Tokio Marine HCC International (TMHCCI) has tapped a senior Hiscox executive to boost its European legal and compliance function. The hire brings 20 years’ experience in compliance and regulatory roles at AXA, Credit Suisse and Piraeus Bank, among others.
Sandy Mavrommati (pictured) has been appointed as the new head of legal & compliance for its European operations, Tokio Marine Europe (TME), as it looks to enhance its network of compliance expertise across the company.
Mavrommati has joined the firm from Hiscox where she was previously head of compliance for Europe. In her new role, she will be responsible for leading the compliance team across Europe and will report into David Feldman, head of international compliance.
Her key responsibilities will include driving the business’ understanding of regulatory risk, establishing control frameworks across business units, monitoring and communicating local and European regulatory change and establishing appropriate control frameworks in response.
Mavrommati has nearly 20 years’ experience in compliance and regulatory roles in both the insurance and banking sectors, having worked at AXA, Credit Suisse and Piraeus Bank, among others.
Vanesa Herrero, chief executive officer, Tokio Marine Europe, said: “We operate in an increasingly dynamic and complex business environment which is necessarily matched by the need to comply with increasing regulation, both in volume and reach.
“Development of our Legal & Compliance Department is therefore essential in order for TME to meet its ongoing regulatory obligations and ensure the safe and compliant operation of our business for our people, shareholders and clients.”
Herrero added: “I am therefore delighted to have been able to recruit someone of Sandy’s calibre and experience. She knows the European regulatory environment and key players extremely well and I look forward to her bringing that expertise and insight to bear on TME.”
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