Tokio Marine to Appoint Koike as New President

Tokyo, Jan. 14 (Jiji Press)--Japanese nonlife insurer Tokio Marine Holdings Inc. plans to promote Managing Executive Officer Masahiro Koike to president, it was learned Tuesday.

Koike, 53, will assume his new post after a general shareholders meeting in July, becoming the youngest head of a major financial institution in Japan, informed sources said.

Current President Satoru Komiya, 64, will step aside to become chairman.

The move will mark the first leadership change at Tokio Marine in six years. It is aimed at rejuvenating management and addressing industry-wide challenges such as customer data leaks. The company also hopes to expand its mainstay overseas operations and new businesses.

Tokio Marine plans to hold a press conference in Tokyo later on Tuesday to explain its new management team.

[Copyright The Jiji Press, Ltd.]