HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — Tokio Marine HCC (TMHCC), based in Houston, Texas, has today announced the expansion of its specialty product offering with its entry into the Excess Casualty market. David Perez has been appointed as President, Excess Casualty, to lead the launch and build out the new offering. David takes up his new role with immediate effect and will report to Susan Rivera, Chief Executive Officer (CEO) of TMHCC.
TMHCC’s entry into this space is timely and will provide insureds vital new capacity as limit retrenchment continues amid challenging loss cost trends. David’s unique understanding of the casualty industry, combined with TMHCC’s underwriting best practices honed over its 50-year history, creates a powerful foundation for profitable growth and market leadership.
David brings nearly four decades of experience to the new division. He joins from Liberty Mutual where he served as Chief Underwriting Officer, Global Risk Solutions. He has also held senior underwriting positions, across the US and Bermuda, including at Torus Insurance Limited, American International Group, and Starr Excess Liability Insurance Company Ltd.
Susan Rivera, CEO of TMHCC, said, “TMHCC’s entry into the Excess Casualty market at this pivotal juncture once again demonstrates our unwavering commitment to the needs of insureds and aligning capacity where it is required most. While entering a new market can bring its own set of challenges, TMHCC is well-positioned to capitalize on the opportunity the firming of the excess casualty market presents. David brings with him a wealth of experience and will undoubtedly strengthen our deep technical expertise as TMHCC cements its position in the market. It also highlights our commitment to employing the best in the business as we prioritize the development and growth of products that will enable policyholders to enhance their resilience.”
David Perez, President of Excess Casualty, added, “TMHCC has an exceptional reputation in the specialty insurance sector, and I am excited to launch its presence into the Excess Casualty market. There is a clear opportunity for TMHCC’s unique blend of underwriting acumen, analytics and disciplined limits and cycle management. I am looking forward to working with Susan and the team to build the new offering.”
About Tokio Marine HCC
Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $73 billion as of June 30, 2024. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings, ‘A++’ (Superior) from AM Best, and ‘AA-’ (Very Strong) from Fitch Ratings; its major international insurance companies have financial strength ratings of ‘A+’ (Strong) from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
Contact:
MHP Group
tmhcc@mhpgroup.com
+44 (0)7586 050 758
