Tokio Marine HCC has named Darren Carr as Head of Marine Liability for its London Market division. Carr had previously been at AXIS Capital, which bought Novae, Carr’s previous home.
Carr has more than 16 years’ experience in the Marine Liability market and has demonstrated in his previous roles that he can develop market leading business lines. His appointment is intended to support Tokio Marine HCC’s growth strategy in the marine re/insurance market as it develops its product offering, which includes Marine Trades, Marine Property, Protection and Indemnity (P&I) Reinsurance, and Marine and Energy Liability.
Carr will report to Simon Button, Chief Underwriting Officer for the London Market division.
Carr’s move is not quite the new news as it has been framed. His move to Tokio Marine HCC has been known about since June (IMN, June 25th 2018), although the technical details on its confirmation are slightly different.
This will not be Carr’s first experience with a Japan-owned insurer; during 2012-2013 he was class underwriter for marine liability at Mitsui Sumitomo. He began his insurance career with five years at Aon, rising by 2007 to the role of Head of Ports & Terminals & International Liabilities
Carr joined Novae in 2013 as deputy head of marine liability in 2013, moving to head of marine in late 2014. He has also worked for MS Amlin and Hiscox.
Tokio Marine bought HCC in 2015. In marine it writes physical loss or damage, machinery breakdown and collision liability for commercial tonnage, super yachts, business interruption and marine war risks. It operates Lloyd’s syndicate 4141 (2017 report IMN June 11th 2018).
Marine, aviation & transport GWP for 2017 was £12.36m, up from £9.18m the previous year. For 2017 the result was a loss of £5.18m, compared with a loss of £2.61m in 2016.