The board of directors of Tokio Solution Management has announced a simplification of the company’s organisational structure.
Tokio Solution Management is the third-party capital markets arm of Tokio Millennium Re AG. The decision to simplify the company’s structure was made following the formation of TMR’s Capital Solutions unit in 2015. According to a news release, Tokio Solution’s structure will be simplified so that the company can focus resources on account management and technical portfolio support for TPC partners.
“We conducted a strategic review of Tokio Solution aimed at operational efficiency to provide the best possible service to our TPC partners in a way that simplifies the organisational structure supporting our TPC strategy, while simultaneously leveraging the resources of TMR and its Capital Solutions unit,” said Kathleen Faries, member of Tokio Solution’s board of directors and head of Bermuda for TMR’s Bermuda branch.
The company’s restructuring means that its “co-CEO” role is no longer required. Former co-CEO Susan Lane has now left the company, according to the news release.
“We thank Susan for her hard work and the contributions she has made since joining Tokio Solution nearly two years ago,” Faries said. “We wish Susan all the best in her future endeavours.”
Tsuyoshi (Harry) Harigai will now serve as sole CEO of Tokio Solution. Harigai has more than two decades of insurance and reinsurance experience.
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