Tokio Marine HCC (TMHCC) is restructuring its international contingency business with the appointment of Neil Paddon as leader of its London Market and European operations.
Paddon, currently head of contingency, assumes responsibility for the London Market and Europe, including product distribution for the Tokio Marine Group in South Africa, Asia and the Middle East, according to a company statement. He joined TMHCC’s specialty group in 2010 as a contingency underwriter, and has more than 20 years’ experience in the class.
He reports to Philip Hall, managing director of specialty group, based in London. His remit includes overseeing TMHCC’s growing European operations based in Paris and Munich. The team offers an event cancellation line of over €50 million.
Meanwhile, TMHCC has promoted Caspar Prestidge to senior contingency underwriter and Martha Crowhurst to underwriter, both operating in the London Market.
The London Market and European teams will work closely with Anthony Osterrieth, who is head of international business development for the specialty group and is a key part of Tokio Marine HCC’s post-Brexit strategy.
According to Hall, the past year has been turbulent for the contingency risks market, and the development of the team and its refreshed capacity reflect TMHCC’s commitment to the market and the belief in its long-term viability.
“The COVID pandemic has created a huge amount of volatility in this market, but we believe that fundamentally it is a sound, profitable market, and we are investing to grow,” he said.
“Neil has been instrumental in growing our contingency business over the last decade, and it remains a key element of our wider specialty portfolio. This is a well-deserved promotion. He is an innovative and market-leading underwriter in this space, and when it comes to coordinating our international strategy, he is the clear and obvious choice to take the business forward in the coming years.”
