Tokio Marine HCC has expanded its international surety operations with the formation of a new Mexican subsidiary, called Tokio Marine HCC Mexico Compania Afianzadora, S.A. de C.V. (TMHCC Mexico).
The newly-formed entity provides surety bonds to Mexican-domiciled organisations and enables Tokio Marine’s Surety Group to produce business for customers in the US, Japan, Europe and other countries with surety needs in Mexico.
The unit will by led by Francisco ‘Pako’ Barajas Aguilera, who will act as its Chief Executive Officer (CEO), reporting to Adam S. Pessin, CEO of Tokio Marine HCC – Surety Group.
Barajas has more than 30 years’ experience in the Mexican surety market, and previously managed the surety operations of Chubb de Mexico, Compania Afianzadora, S.A. de C.V.
The team will also include: Carlos Mireles, Chief Operating Officer; Rocio Sosa, Chief Underwriting Officer; Carlos Huacuja, Chief Claims Officer; and Irma Raya, Operations Manager.
“Tokio Marine HCC’s financial strength and international surety expertise provides us with an excellent platform to grow a best-in-class Mexican surety business,” said Barajas.
“We are excited to form TMHCC Mexico and delighted to have such an experienced and capable team led by Pako,” he added. “This expansion into Mexico will broaden our surety footprint and complement our already strong worldwide surety portfolio,” commented Mr. Pessin.
