The International Underwriting Association (IUA) has elected its first board member from outside the EU or North America.
Takashi Oka, director and general manager of Tokio Marine and Fire Insurance Co (UK), was appointed to the board during the IUA's Annual General Meeting last week.
Oka, who is also chief executive officer of Tokio Marine Global Re in Dublin, said his position with the IUA “reflects our commitment to adopting an active role in this key international insurance and reinsurance market.”
David Ahmad of Royal & Sunalliance, James Morgan of Axa Global Risks (UK) and Stephen Riley from CNA Reinsurance Company, were re-elected after retiring by rotation.
In addition, Stephen Cane of Alea London, Robert Johnston of Copenhagen Re UK, Graham Nichols of AGF Marine Aviation Transport and Laurent Thabault of SCOR UK Company were also re-elected.
Marie-Louise Rossi of the IUA, Adrian Ballardie of AXA Corporate Solutions, Clemens von Bechtolsheim from Munich Reinsurance Company, Tim Carroll of GE Frankona Re, Stephen Fletcher of AGF Marine Aviation Transport, Tony Latham of Royal & Sunalliance Insurance and Tony Medniuk from Global Aviation Underwriting Management (GAUM) will remain board members.
Tim Carroll has also confirmed he will be standing down as chairman to “keep the position fresh”.
He said he would ask the new chairman to continue implementing the London Market Principles 2001 to modernise the market. The board will elect his successor during its first meeting on May 16.