Insurance Business recently reported the departure of Chubb’s global markets division president Matthew Shaw, and now it’s been revealed where he’s headed.
Shaw, who will be succeeded by internal hire Jason Keen, is moving to Tokio Marine Kiln (TMK) to serve as chief underwriting officer from the middle of next year. The former CUO, Paul Culham, has stepped down after 32 years with the business.
“I’m hugely excited to be joining TMK, an organisation with a long history as a great underwriting company and one at the forefront of innovation in the Lloyd’s market,” commented Shaw, whose insurance career started in the ‘80s in his capacity as a Lloyd’s underwriter.
“This is a transformational time for TMK and for the London market, and this role offers a great opportunity to be part of the growth and continued success of this great franchise.”
Meanwhile “thrilled to welcome” the incoming chief underwriting officer is TMK deputy chief executive Brad Irick, whose own successor was named in September.
“He brings a wealth of experience in the specialist markets in which we operate within Lloyd’s and the broader London market,” noted Irick, referring to Shaw. “Our underwriting teams are energised by a refreshed strategy, an improving market, and new opportunities to profitably grow their businesses under Matthew’s leadership.”
TMK chief executive Charles Franks is just as pleased with the development.
The CEO stated: “This is a first-class appointment, and I know Matthew will be a great addition to our executive team as we embark on the next stage of the TMK journey.”