Shaw Appointed CEO of Tokio Marine Kiln, Succeeding Irick

Specialty insurer Tokio Marine Kiln (TMK) announced the appointment of Matthew Shaw as CEO, with effect from April 1, subject to regulatory approval.

Shaw will succeed Brad Irick who is taking up the position of co-head of international business for Tokio Marine Holdings, which is the parent company of Tokio Marine Group, to drive its international growth ambitions. Chief Risk Officer Vivek Syal will replace Shaw as chief underwriting officer (CUO).

Shaw has been CUO of TMK since 2020. An accomplished and experienced leader with four decades of experience in the insurance industry, he has been the architect behind a transformational underwriting strategy that has led to significant performance improvements for the company in the past four years, the company said in a statement.

Shaw joined TMK from Chubb, where he was divisional president of global markets. He began his career at Lloyd’s in 1982, working in aviation and non-marine lines, underwriting both direct and reinsurance business. He became deputy underwriter for Syndicate 340 in 1993 and active underwriter in 2000. Shaw then joined ACE (which later became part of Chubb) in October 2002 to manage the company’s European reinsurance business. He has served as a member of various boards including the London Market Association and the Lloyd’s Aviation Underwriters Association and committees in the Association of British Insurers.

Irick has led TMK since Jan. 1, 2020. During his tenure TMK has achieved “consistent profitability as one of the largest and highest performing insurers at Lloyd’s,” the company added.

Concurrently, the company announced that CRO Vivek Syal will be appointed to the role of CUO, effective April 1, subject to regulatory approval. Syal joined TMK in 2017 as CRO and has played an instrumental role in developing and leading the vision and strategic direction of the business. He is a member of TMK’s board of directors.

Prior to TMK, he held various senior positions at ProSight, Bank of England and PwC, among others. He is an associate of the Chartered Insurance Institute, council member at ClimateWise and has been a chair/member of various industry committees.

“Brad, Matthew, and the executive team have done a tremendous job of leading Tokio Marine Kiln and executing on a strategy that has consistently delivered outstanding results. I have every confidence that its success will continue to strengthen under Matthew’s leadership, and with the support of the whole business,” commented Chris Williams, chairman of Tokio Marine Kiln Group.

“Brad and I have worked together for many years, and I couldn’t be more pleased to see him succeed me as I take on the role of chairman of Tokio Marine Holdings’ international business. He is a proven leader and I know he will be instrumental in helping Tokio Marine chart the course of the international business into the future,” Williams continued.

Part of one of the world’s largest insurance groups, Tokio Marine Kiln’s specialty underwriting teams are focused on property & motor; liability; aviation; cyber & enterprise risk; marine & energy; special risks and portfolio solutions. TMK has operated in the Lloyd’s market for more than six decades.

Source: Tokio Marine Kiln