Tokio Marine HCC has announced the appointment of Michael Palotay as President of its Cyber & Professional Lines Group, effective January 1st.
Palotay, who previously served as Chief Underwriting Officer, will succeed Richard Robin who is retiring and will remain in a consultative capacity until April 1.
With more than 15 years’ experience in the insurance industry, Palotay has previously held senior roles at AIG and NAS Insurance.
As President, he will continue the Cyber & Professional Lines Group’s focus on delivering innovative products and services, while also responding to the marketplace through investments in emerging technologies.
“It is a huge honor to succeed Rich as President of the Cyber & Professional Lines Group,” said Palotay.
“Rich successfully brought together two organizations (Tokio Marine HCC and NAS Insurance) with decades of experience and aligned them under the pillars of product innovation, customer service and underwriting profitability. The outstanding culture he created will serve us well as we move the group into the future.”
Robin came to Tokio Marine HCC with its acquisition of NAS Insurance in April 2019, where he served as Chief Executive Officer for 13 years, and continued his leadership role as President of the Cyber & Professional Lines Group following the transaction.
“On behalf of the executive leadership team at Tokio Marine HCC, I want to thank Rich for his leadership, vision and outstanding contribution to our company,” said Tokio Marine HCC’s Chief Executive Officer Susan Rivera.
“I am pleased Mike will be leading our Cyber & Professional Lines Group to the next stage in its development,” Rivera added. “His knowledge of the business, experience navigating various markets and proven leadership qualities make him the perfect candidate for the role.”
