Tokio Marine Kiln, part of global insurance group Tokio Marine, has announced a series of senior leadership changes, including the departure of Charles Franks from his role as Chief Executive Officer.
Franks, who at the end of 2019 will assume new responsibilities within the group, is to be replaced by Current Deputy CEO Brad Irick.
Franks will remain a member of the TMK board, where it’s believed his extensive knowledge of TMK and the Lloyd’s market will continue to be of benefit.
Since joining TMK, Irick has worked closely with Franks on all aspects of the business, including the ongoing development of the company’s strategy.
He has also had direct responsibility over TMK’s operational areas, actuarial, internal audit and governance and legal functions.
Nick Hutton-Penman has been welcomed to TMK’s executive team as Franks’ replacement as Deputy CEO, effective October 1.
Hutton-Penman joins from Tokio Marine HCC International in London having served across several key roles during his 17-year career. Including CEO of HCC Underwriting Agency.
Lastly, Paul Culham, TMK Chief Underwriting Officer, is also departing 32 years with the company.
He will leave at the end of September and his successor will be announced in due course.
“Charles has demonstrated exemplary leadership over the past eleven years, and I would like to extend my heartfelt thanks to him. The board and I are grateful for his continued expertise as the company transitions to the new leadership team,” said Chris Williams, Chairman of Tokio Marine Kiln Group Limited.
“In Brad we have found a talented and dynamic leader. He has done an excellent job over the past year, demonstrating focus and strategic thinking. Brad’s experience in specialist insurance, finance and mergers and acquisitions will be complemented by Nick’s excellent operational credentials, and I have every confidence their leadership will propel the business forward.”
Franks added, “After more than a decade leading TMK, this is the right moment for me to hand over the reins. Successful leadership requires deep expertise as well as fresh thinking, and in Brad and Nick, TMK has found a formidable combination.”