Tokio Marine Kiln shakes-up top leadership as CEO and CUO depart

Specialist and corporate insurer Tokio Marine Kiln (TMK) has unveiled a series of leadership changes following the departure of its chief executive officer Charles Franks after 11 years, and chief underwriting officer Paul Culham after 32 years.

Franks will be assuming new responsibilities within the Tokio Marine Group (TMG) and remain a member of the TMK board. He will be succeeded by Brad Irick as chief executive officer of TMK from 1 January 2020.

Irick has held the role of deputy chief executive officer of TMK since August 2018. Since joining TMK, he has worked closely with Franks on all aspects of the business, including the development of the company’s strategy. He has also had direct responsibility over TMK’s operational areas, actuarial, internal audit and governance and legal functions. Irick has extensive experience in the specialist insurance industry, having served as chief financial officer at Tokio Marine HCC (TMHCC) since 2010, along with 21 years in the insurance practice of PwC.

Culham, TMK's chief underwriting officer, is also stepping down after 32 years with the company. He will leave at the end of September and his successor will be announced in due course.

In addition to these changes, the company has added Nick Hutton-Penman to its executive team as deputy chief executive officer, effective from 1 October 2019.

Hutton-Penman joins TMK from TMHCC International in London where he fulfilled several roles in his 17-year career including chief operating officer of the HCC International Group and chief executive officer of HCC Underwriting Agency.

Chris Williams, chairman of Tokio Marine Kiln Group, said: “Charles has demonstrated exemplary leadership over the past eleven years, and I would like to extend my heartfelt thanks to him. The board and I are grateful for his continued expertise as the company transitions to the new leadership team.

“In Brad we have found a talented and dynamic leader. He has done an excellent job over the past year, demonstrating focus and strategic thinking. Brad’s experience in specialist insurance, finance and mergers and acquisitions will be complemented by Nick’s excellent operational credentials, and I have every confidence their leadership will propel the business forward.”

Franks added: “After more than a decade leading TMK, this is the right moment for me to hand over the reins. Successful leadership requires deep expertise as well as fresh thinking, and in Brad and Nick, TMK has found a formidable combination. The opportunity for the business is vast, and I have every confidence that with strong and dynamic leadership, supported by the incredible talent within the business, this will be an exciting new chapter for TMK.”

Irick said: “This is an exciting and transformative time for our industry. TMK has always led the market, and this period is no exception. Our exceptional talent, relationships and innovative thinking position us well for success, and I look forward to driving the business forward with renewed focus and energy.”

Culham commented: “After more than three decades at TMK, now is the right moment for change, and I am delighted to pass the baton on. I wish Brad and the team every success as they embrace the opportunities ahead.”

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