Tokio Marine HCC has announced a changing of the guard involving a key executive.
The specialty insurance group said that its president, William Burke, is retiring on April 1, 2019. Michael Schell, an executive vice president, is slated to replace him. Plans call for Burke staying on as a member of the board of directors.
Burke’s insurance career dates back to 1977 with the Home Insurance Company, followed by almost 30 years with Aon Corp. He joined Tokio Marine HCC in 2012 as executive vice president and chief operating officer.
Susan Rivera, Tokio Marine HCC’s chief operating officer, said in a statement that Burke gave “dedicated service” to the company, adding that it was “privileged to have his continued involvement as a board member.”
Schell, his replacement, has been with Tokio Marine HCC since 2002 and is a 45-year industry veteran. Currently, he’s CEO 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 Ltd. Effective with his new position, 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 adviser as of April 1.
Rivera said that Schell’s “wealth of insurance experience and intimate knowledge of TMHCC make him the perfect candidate to assume this role.”
Schell, in prepared remarks, said he appreciated the opportunity to “contribute to the ongoing success of what I think is a very good quality commercial specialty insurance company.”
Source: Tokio Marine HCC