Tokio Marine HCC International has appointed Gülsah Dagdelen (pictured) as head of cyber – international, effective July 1. Dagdelen succeeds Xavier Marguinaud, who built TMHCCI's cyber offering from a single financial lines product into a standalone international practice over the past decade.
Dagdelen joined Tokio Marine HCC International (TMHCCI) in 2013 as a financial lines underwriter and moved into cyber in 2019. She brings close to two decades of technical and commercial underwriting experience to the role.
TMHCCI said Marguinaud has left the business. The company credited his ten-year tenure with building the foundation for what has become a dedicated international cyber practice.
Dagdelen will lead a team of 22 specialists that includes a dedicated cyber security unit. TMHCCI's cyber team has expanded alongside sustained growth in demand for cyber insurance cover over the same period.
TMHCCI published its sixth consecutive annual Top 10 Cyber Incidents report in early 2026, which flagged ransomware, technology supply-chain compromise, and cloud concentration risk as the defining themes for the cyber re/insurance market going forward.
Thibaud Hervy, chief executive of TMHCCI, said the appointment "reflects both her expertise and the strength of the wider cyber team." He described the move as underscoring continuity of approach and the trust Dagdelen had earned across the market.
Henk Bakker, managing director of financial lines, cyber and transaction risk at TMHCCI, said the team had built its reputation through underwriting discipline and a specialist approach. He also acknowledged Marguinaud's contribution to the business over the past ten years.
Dagdelen said she was focused on disciplined underwriting and close broker and client relationships as the cyber risk environment grows more complex. "I'm proud of what we've built in Cyber and excited to lead the team into this next phase," she said.
The appointment comes as the cyber insurance market faces a period of rate softening alongside rising claims activity. Munich Re put the global cyber market at US$15.3 billion in 2024 and projected that premiums could more than double by 2030, according to DUAL's global outlook.
