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5 January 2022Insurance

Tokio Marine taps insider to head up Asian operations from Singapore

Tokio Marine has tapped one of its own, a deputy chief of its Malaysian insurance unit handling strategic business planning, HR and corporate management, to take charge of its larger Asian operations.

Masahito Hirai, the to-date deputy chief of Tokio Marine's Malaysia general insurance operations, will now step up to the post of CEO of Tokio Marine's Asia regional headquarters, which oversees 8 P&C and 5 life units in eight Asian nations.

He replaces Mr. Noboru Yamagata, who had been interim CEO and will continue in his broader capacity as the managing executive officer of Tokio Marine Holdings, in charge of Asia operations and a director on the board of the regional HQ.

Prior to his stint in Malaysia, Hirai also held key leadership positions in Tokio Marine's entities in North America, Mexico and Brazil.

Akira Harashima, board chair of Tokio Marine’s Asian HQ, said: "As we continue to pursue profitable growth in the Asian markets, I am confident that Mr. Hirai's global experience in managing operations in emerging and developing markets in Asia, North and South America will definitely provide the leadership required for the Asia region."

Hirai added, "Expanding our businesses in emerging markets remains as one of the biggest challenges for Tokio Marine Group. While anticipating a strong recovery from the pandemic environment in Asian economies, this presents opportunities for us to provide insurance solutions and innovative service through Tokio Marine Group's best practices to our customers, business partners and society in this region as we strive to deliver the best outcomes."

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