Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has confirmed that its Chief Executive Officer (CEO), Charles Franks, is scheduled to assume the post of Adviser from January 1, 2020.
The company announced back in September that Franks would step down by the end of the year, with Deputy CEO Brad Irick named as his successor.
The transition will see Franks resign from his current positions both as Group CEO of Tokio Marine Kiln Group, and as CEO of Tokio Marine Kiln Syndicates.
However, going forward he will remain a member of the TMK board.
In this capacity, he will provide advice based on his extensive knowledge of the company and the Lloyd’s market.
Prior to his current role, Franks was Chief Executive Officer of Kiln Group Limited from 2009 and of R J Kiln & Co Limited from 2007.
He has more than 30 years’ experience in the re/insurance industry, and led the integration of Kiln into the Tokio Marine Group following its acquisition in 2008.
Franks joined Kiln in 1993 as Deputy Active Underwriter of the Marine Syndicate 123 and was appointed as a Director of R J Kiln in 1995, before becoming Active Underwriter of the Marine division in 2001. He previously held posts with CW Rome and Sedgwick Group.
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.
