Shaw will succeed Brad Irick, who is transitioning to the role of co-head of international business for Tokio Marine Holdings, the parent company of Tokio Marine Group.
Described as an accomplished leader with over four decades of experience in the insurance industry, Shaw has been serving as the chief underwriting officer (CUO) of TMK since 2020. He is credited as the “architect” behind the transformational underwriting strategy that has contributed to significant performance improvements over the past four years.
Irick, who has been at the helm of TMK since January 1st, 2020, played a pivotal role in steering the company towards consistent profitability, establishing TMK as one of the largest and highest-performing insurers at Lloyd’s.
In addition to Shaw’s appointment, TMK’s chief risk officer Vivek Syal will assume the role of CUO, effective April 1st, subject to regulatory approval. Syal, who joined TMK in 2017, has been instrumental in shaping the vision and strategic direction of the business.
Chris Williams, chairman of Tokio Marine Kiln Group, commented on the changes, “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.
“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.”
Shaw also commented, saying: “I’m delighted to be taking up the role as CEO during one of the most pivotal times for our industry. Our clients are facing a new generation of risk and volatility, with novel technology and approaches challenging the status quo and presenting exciting opportunities. Building on our proven strategy and the experience and expertise we’ve gained from 60 years in business, the next phase for TMK is about focusing on our future vision, creating opportunities and embracing new ways of solving old problems.
He added: “Vivek is a forward-thinking and exceptional leader whose solid experience in our industry and unique perspective will enable him to propel our underwriting strategy forward and ensure our continued success.”
Join leaders from Tokio Marine at Insurtech Insights Europe 2024
Meet leaders from Tokio Marine and see Masashi Namatame live on stage at Insurtech Insights Europe 2024. The two-day conference runs from March 20-21st at The InterContinental Hotel – The 02 in London. For more information, visit here.
