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HOUSTON, July 25, 2019 (GLOBE NEWSWIRE) -- Tokio Marine HCC today announced the formation of Tokio Marine HCC Mexico Compania Afianzadora, S.A. de C.V. (“TMHCC Mexico”). The newly-formed entity provides surety bonds to Mexican-domiciled organizations and enables Tokio Marine HCC - Surety Group to produce business for customers in the United States, Japan, Europe and other countries worldwide with surety needs in Mexico.
TMHCC Mexico is led by Francisco “Pako” Barajas Aguilera, who functions as Chief Executive Officer and has over 30 years of surety experience in the Mexican surety market. Prior to joining Tokio Marine HCC, Mr. Barajas managed the surety operations of Chubb de Mexico, Compania Afianzadora, S.A. de C.V. His team includes Carlos Mireles, Chief Operating Officer; Rocio Sosa, Chief Underwriting Officer; Carlos Huacuja, Chief Claims Officer; and Irma Raya, Operations Manager. Mr. Barajas reports to Adam S. Pessin, Tokio Marine HCC - Surety Group’s Chief Executive Officer.
“Tokio Marine HCC’s financial strength and international surety expertise provides us with an excellent platform to grow a best-in-class Mexican surety business,” said Mr. Barajas.
“We are excited to form TMHCC Mexico and delighted to have such an experienced and capable team led by Pako. This expansion into Mexico will broaden our surety footprint and complement our already strong worldwide surety portfolio,” commented Mr. Pessin.
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. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom and Continental Europe. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of “AA- (Very Strong)” from S&P Global Ratings, “A++ (Superior)” from A.M. Best, and “AA- (Very Strong)” from Fitch Ratings; its major international insurance companies have financial strength ratings of “AA- (Very Strong)” from S&P Global Ratings. Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $34 billion as of December 31, 2018. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
Tokio Marine HCC - Surety Group is the marketing name used to describe the surety-related insurance operations of Tokio Marine HCC. With offices throughout the United States, it is the seventh largest writer of surety business in the United States. Tokio Marine HCC - Surety Group’s members – American Contractors Indemnity Company, U.S. Specialty Insurance Company and United States Surety Company – have financial strength ratings of “AA- (Very Strong)” from S&P Global Ratings, “A++ (Superior)” from A.M. Best, and “AA- (Very Strong)” from Fitch Ratings.
Doug Busker, Vice President – Public Relations
Tokio Marine HCC