TMK, part of Tokio Marine Group, has named Matthew Shaw as its new CEO, replacing Brad Irick, who has been at the helm since 1 January 2020. 

Shaw will assume the new responsibility on 1 April 2024, pending regulatory approval.  

In an insurance career spanning 40 years, he has served as TMK’s chief underwriting officer (CUO) since 2020.  

The specialty insurer said he has been key in devising an underwriting strategy that has significantly enhanced the company’s performance over the past four years. 

Meanwhile, Irick will now become co-head of international business for Tokio Marine Holdings, the parent company of Tokio Marine Group.  

He will take over from Chris Williams, who is stepping into the role of chairman for Tokio Marine Holdings’ international business, also starting on 1 April 2024. 

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With Shaw moving up to the CEO position, TMK’s chief risk officer, Vivek Syal, will take on the role of CUO.  

Syal, who joined TMK in 2017, is known within the London and Lloyd’s Market, as well as throughout the Tokio Marine Group, where he has held various significant roles. 

Williams said: “Brad, Matthew and the executive team have done a tremendous job of leading Tokio Marine Kiln and executing on a strategy that has consistently delivered outstanding results.” 

Shaw stated: “I am delighted to be taking up the role as CEO during one of the most pivotal times for our industry. Our clients are facing a new generation of risk and volatility, with novel technology and approaches challenging the status quo and presenting exciting opportunities.  

“Building on our proven strategy and the experience and expertise we have gained from 60 years in business, the next phase for TMK is about focusing on our future vision, creating opportunities and embracing new ways of solving old problems.”