It has been announced that William Burke, the President of specialty insurance group Tokio Marine HCC, will retire on 1 April 2019. Current Executive Vice President Michael Schell will step into the role upon Burke’s departure.
Burke, who will continue as a member of the Board of Directors following his retirement, has worked in the industry since 1977.
He spent almost 30 years with Aon before joining Tokio Marine HCC in 2012 as Executive Vice President and Chief Operating Officer.
“It has been an honor to work at TMHCC and to be part of the Tokio Marine Group since their acquisition,” remarked Burke.
“The leadership team at TMHCC is one of the most talented in the industry, and the Company is well positioned to capitalize on the future opportunities presented in the specialty insurance marketplace.”
Schell joined Tokio Marine HCC in 2002 and has over 45 years of experience in the insurance industry, including 25 years at St. Paul Companies and five years at INA.
He is currently Chief Executive Officer 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 Limited.
In addition, Schell is also due to join the Company’s Board of Directors and has been appointed to the role of Global Reinsurance Advisor effective 1 April.
“I appreciate this opportunity to continue working with Susan Rivera and my colleagues at TMHCC, and to contribute to the ongoing success of what I think is a very good quality commercial specialty insurance company,” said Schell.
“It has been the highlight of my insurance career to work with my TMHCC colleagues, and even more so since HCC Insurance Holdings became part of Tokio Marine Holdings.”
Susan Rivera, Tokio Marine HCC’s CEO added, “Mike’s wealth of insurance experience and intimate knowledge of TMHCC make him the perfect candidate to assume this role.”
“He is respected and highly regarded within TMHCC and throughout the industry. I look forward to working with Mike to make this a seamless transition.”