Tokio Marine
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The speciality insurer has appointed a head of surety and senior surety underwriter to the new Danish branch.
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A 70 percent foreign shareholding ceiling was brought in in 2009 but never enforced.
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Shilpa Strong will be based in New York and report to executive vice president Mark Callahan.
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Chairman Shuzo Sumi will be replaced by Tokio Marine’s current president and group CEO.
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The acquisition brings Midlands into the fold of Tokio Marine Group.
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Daljitt Barn follows recent arrival Paul Jardine onto the advisory board of the start-up.
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He moves to the carrier from Axis.
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The carrier will write business via its Luxembourg base.
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A domestic deterioration drags down the group result by more than a third in the six months to 30 September.
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Reputation can still be an underrated commodity in insurance.
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Deal adds scale and operating leverage for the Bermudian at an attractive price. -
The deal also accelerates a strategy of pursuing increased scale and leverage.
