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HOUSTON, March 05, 2019 (GLOBE NEWSWIRE) -- Tokio Marine HCC today announced that Michael Schell will become its next President effective April 1, 2019, replacing William Burke who is retiring. Mr. Schell currently serves as Executive Vice President at Tokio Marine HCC.
Mr. Schell joined Tokio Marine HCC in 2002 and has over 45 years of experience in the insurance industry, including 25 years at St. Paul Companies and five years at INA. He is currently Chief Executive Officer of Tokio Marine HCC’s insurance companies: Houston Casualty Company, U.S. Specialty Insurance Company and Avemco Insurance Company; and President of HCC Reinsurance Company Limited. Effective with his new position, Mr. Schell will join the Company’s Board of Directors. He has also been appointed by Tokio Marine Holdings, Inc. to the role of Global Reinsurance Advisor effective April 1, 2019.
“Mike’s wealth of insurance experience and intimate knowledge of TMHCC make him the perfect candidate to assume this role. He is respected and highly regarded within TMHCC and throughout the industry. I look forward to working with Mike to make this a seamless transition,” said Susan Rivera, Tokio Marine HCC’s Chief Executive Officer.
“I appreciate this opportunity to continue working with Susan Rivera and my colleagues at TMHCC, and to contribute to the ongoing success of what I think is a very good quality commercial specialty insurance company. It has been the highlight of my insurance career to work with my TMHCC colleagues, and even more so since HCC Insurance Holdings became part of Tokio Marine Holdings,” commented Mr. Schell.
Mr. Burke will retire as President on April 1, 2019 but will continue to support the Company as a member of the Board of Directors. He has enjoyed a successful insurance career starting in 1977 with the Home Insurance Company followed by almost 30 years with Aon Corporation, prior to joining Tokio Marine HCC in 2012 as Executive Vice President and Chief Operating Officer.
“We would like to thank Bill for his dedicated service and commitment to TMHCC”, said Ms. Rivera. “We are grateful for his professionalism and execution through the years and are privileged to have his continued involvement as a Board member.”
Mr. Burke added, “It has been an honor to work at TMHCC and to be part of the Tokio Marine Group since their acquisition. The leadership team at TMHCC is one of the most talented in the industry, and the Company is well positioned to capitalize on the future opportunities presented in the specialty insurance marketplace.”
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.
|Contact:||Doug Busker, Vice President – Public Relations|
|Tokio Marine HCC|