Tokio Marine taps banking veteran for German surety market
Tokio Marine HCC International (TMHCCI) has tapped a banking veteran to lead its surety business in Germany.
As head of surety, Matthias Sandfort will be responsible for growing TMHCCI's surety business, diversifying the portfolio and penetrating further into the German market. He will be based in Frankfurt.
Having held various director-level roles over the last 20 years, he joins TMHCCI from Corestate Bank where he spent the last five years as managing director. The appointment was effective as of 1 November 2023.
Sandfort will report to Luc Reuter, head of surety – Europe, and takes over from Jens Krichbaum who stepped back earlier this year due to personal reasons, but has since returned to the TMHCCI surety team as a senior underwriter.
TMHCCI offers a range of surety products, including environment, regulatory, performance and advance payment bonds to some of the largest operators in construction, manufacturing, shipbuilding, trade, logistics and energy sectors.
Reuter said: “The German Surety market is an important and fast growing one for TMHCCI and we are delighted to secure someone of Matthias’ calibre to lead the team. He brings a huge amount of experience in the banking sector, having held client, market and credit portfolio responsibilities across continental Europe, and is a well-known, hands on and respected operator. His knowledge of these markets and his strong relationship-building skills will help us secure even more success in Germany. He joins a team that has delivered a strong performance in recent years, and I look forward to working with Matthias as we seek to exploit new opportunities and accelerate our growth.”
Martyn Ward, managing director of Tokio Marine HCC International’s credit & surety division, added: “Matthias is an asset to the team and, backed by TMHCCI’s global presence and superior credit rating, his vast experience in the banking sector will undoubtedly further enhance our Surety proposition for German companies. I am confident that Matthias' extensive knowledge and deep understanding of the market will be instrumental in our plans to further develop our successful international Surety division, which has grown consistently for over nearly forty years.”
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