Tokio Marine Restructures Contingency Team, Promoting Paddon, Refreshing Capacity

Tokio Marine HCC has reaffirmed its commitment to the international contingency market with the appointment of a new lead for its London market and European operations.

Neil Paddon, head of Contingency who has been with Tokio Marine HCC – Specialty Group for more than a decade, assumes responsibility for the London market and Europe, including product distribution for Tokio Marine Group to South Africa, Asia and the Middle East.

As part of the team’s restructure, Caspar Prestidge has been promoted to senior contingency underwriter, and Martha Crowhurst to underwriter, both operating in the London market.

Paddon reports to Philip Hall, managing director of Specialty Group, based in London. His remit includes responsibility for Tokio Marine HCC’s growing European operations in Paris and Munich. The team will be able to offer access to market-leading capacity, providing an event cancellation line of more than €50 million ($60.9 million).

The London market and European teams will work closely with Anthony Osterrieth who, as head of International Business Development for its Specialty Group, is a key part of Tokio Marine HCC’s post-Brexit strategy.

Following a turbulent year for contingency risks, Hall said, the development of the team and the refreshed capacity underline the company’s commitment to the market and belief in its long-term viability.

“The COVID pandemic has created a huge amount of volatility in this market, but we believe that fundamentally it is a sound, profitable market, and we are investing to grow,” added Hall.

“We are committed to this sector and believe there is a huge amount of opportunity here despite what has happened over the last 18 months,” commented Paddon. “This is reflected in the new capacity we are able to provide, and this, combined with the expertise within the team, gives me huge confidence that we will go on to make the most of those opportunities.”

Source: Tokio Marine HCC