Tokio Marine Insurance Group has appointed Masahito Hirai (pictured above) as CEO of Tokio Marine Asia (TMA), its Asia regional headquarters based in Singapore.

Hirai took over from Noboru Yamagata, who served as interim CEO. Yamagata will continue in his broader capacity as the managing executive officer of Tokio Marine Holdings, in charge of Asia operations, and as a director on TMA's board.

Hirai was most recently deputy CEO of Tokio Marine's Malaysia general insurance business, where he was responsible for the strategic business planning, HR talent development and corporate management functions. Prior to his stint in Malaysia, Hirai also held key leadership positions in Tokio Marine’s businesses in North America, Mexico and Brazil. He joined Tokio Marine in 1992.

“As we continue to pursue profitable growth in the Asian markets, I am confident that Mr. Hirai's global experience in managing operations in emerging and developing markets in Asia, North and South America will definitely provide the leadership required for the Asia region,” said Akira Harashima, board chairman of TMA.

“Expanding our businesses in emerging markets remains as one of the biggest challenges for Tokio Marine Group,” Hirai said. “While anticipating a strong recovery from the pandemic environment in Asian economies, this presents opportunities for us to provide insurance solutions and innovative service through Tokio Marine Group's best practices to our customers, business partners and society in this region as we strive to deliver the best outcomes.”