Kathleen Faries, Head of Bermuda – Tokio Millennium Re and ILS Bermuda’s Deputy Chairman has been named amongst Insurance Day’s Power 50.
Insurance Day unveiled its Top Influencers for 2016, serving as a guide for the industry’s leading influencers, top performing companies, analysis & insights and highlighting the most pressing issues for 2016.
Kathleen Faries is a well-known name on the insurance-linked securities (ILS) stage. She is an active champion for Bermuda as a centre of excellence for third-party capital. As part of the ILS Bermuda group, alongside industry figures such as Greg Wojciechowski, president and chief executive of the Bermuda Stock Exchange (BSX), she actively promotes innovation, industry leadership and a bold approach to new financial products.
In January 1 she was appointed head of the Bermuda branch of Tokio Millennium Re (TMR). In 2012, Faries took the Bermuda ILS market by storm when she launched Tokio Solution Management backed by Tokio Millennium Re (TMR) as part of the reinsurer’s wider strategy to expand into new markets. Before this and as head of the market solutions unit at TMR, she was responsible for managing the fronting and transformer services the carrier provided to capital market entities, as well as underwriting the company’s industry loss warranties and cat bond portfolios. She has been a constant innovator, and as the new head of the Bermuda branch of TMR we expect to see nothing less.
During the Monte Carlo Rendez-Vous de Septembre, TMR launched the Capital Solutions unit, which Faries will oversee as part of the reinsurer’s strategy to increase its focus on ILS business and build its partnership with the capital markets. The new unit takes the work that has been ongoing at TMR under the Tokio Solution Management brand to develop new capital markets products and attempt to bridge the gap between the capital markets and re/insurance.
Click here to view Insurance Day’s Power 50 – featuring 2016’s Top Influencers.