Tokio Marine Kiln boosts liability offering with Beazley specialist hire

Specialist international insurer  Tokio Marine Kiln (TMK) has hired a Beazley life sciences specialist as it targets growth in the sector.

Kirsten Shastri (Pictured)  joins TMK as head of life sciences. Her appointment follows growth of TMK’s liability division, which focuses on risks domiciled worldwide (excluding the US), as it expands and broadens its portfolio.

Shastri has more than ten years’ experience in insurance and a background in science to the role. Most recently, she was life sciences and healthcare underwriter at Beazley. Prior to that, she held similar roles at CNA Hardy and Nexus Group, before working with XL Catlin and Starr Insurance at the start of her career.

In her new role, Shastri will underwrite a range of life sciences risks including traditional medical device and pharmaceutical companies through to novel products being developed worldwide. She will report to departmental head of liability Chris Jones.

TMK will offer coverage for products liability; professional indemnity; medical malpractice; public liability and clinical trials, alongside some nuanced covers currently offered by the insurer. TMK said further product developments are planned from 2023, with distribution focused through TMK’s international coverholder network in addition to traditional open market placements.

Jones said: “We’re delighted to welcome Kirsten to expand our Liability offering with this new Life Sciences specialism. Kirsten’s proven track record of providing specialist cover for emerging and growing areas of risk and her experience in technology-enabled healthcare are ideally aligned with our focus on innovation, and we’re looking forward to doing great things together.”

Shastri commented: “I’m very excited and proud to be joining TMK - one of the largest international liability insurers in Lloyd’s - and to be bringing a specialised product to the market that responds to the innovation seen in the Life Sciences industry. I look forward to growing a specialist underwriting team and bringing a fresh approach to cover in this field.”

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