Tokio Marine looks to expand in Benelux surety market due to rise in demand and capacity providers

Specialty insurance group Tokio Marine HCC has hired senior Chubb and Euler Hermes executives to expand its international surety capabilities into Continental Europe. The company believes the region has experienced high demand and an increase in capacity providers in the last five years.

Chris Marx has joined as senior surety underwriter, reporting directly to Björn Eding, head of surety – Netherlands, who was appointed in February 2019.

Based in Amsterdam, Eding and Marx will further develop the surety practice across the Benelux region to assist clients with their domestic and international surety needs through Tokio Marine HCC’s global network.

With over 18 years' experience in the sector, Eding joined Tokio Marine from Chubb where he worked as surety manager Benelux. He has also held roles at Nationale Borg, where he provided local and international surety guarantees to medium and large corporate organisations.

Marx joined from Euler Hermes, where he worked as senior underwriter and special products manager. He has also held a position at Nationale Borg.

Eding said: “The Benelux region, with various financial institutions, mature market conditions and the transit of goods and services, is a crucial area for Surety business. Hence, we are very pleased that Chris joins our team as he brings significant knowledge of the Benelux Surety market. Tokio Marine HCC’s focus on service delivery, which is backed by the company’s profile and AA- (Very Strong) S&P rating, will provide a compelling offering for both clients and brokers.”

Marx added: “The Surety market in the Benelux region has transformed over the last five years due to high demand and an increase in capacity providers. I am confident that Tokio Marine HCC will add considerable value to the market, and I look forward to meeting the needs of our clients with the expert capabilities of the company.”

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