Japan's Toa Re hires former Amlin boss to launch new European unit in Zurich

Japan-based Toa Reinsurance Company (Toa Re) has hired the former chief executive of Amlin Europe to spearhead a new European reinsurance venture.

Philippe Regazzoni was the chief executive of Amlin Europe for some four years until 2015. Prior to this, he spent 12 years with Swiss Re. He will become CEO of the Japanese reinsurer’s new business based in Zurich, Switzerland.

Toa Re will launch the new underwriting platform to write European reinsurance business by activating Toa 21st Century Reinsurance Company (TTFC), its Switzerland-domiciled wholly owned licensed reinsurance subsidiary.

It will re-brand the business with the trading name Toa Re Europe and look to write third-party business, in addition to existing business from its parent in Japan.

Toa Re Europe is now in the process of obtaining credit ratings and fulfilling regulatory requirements. It is also seeking underwriters, the company said.

With the launch of its new unit, the company said it aims to further develop its European portfolio currently written from Tokyo. Toa Re is the sole domestic professional reinsurer in Japan that provides both life and non-life coverages.

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