HOUSTON, June 15, 2021 (GLOBE NEWSWIRE) -- Tokio Marine HCC (TMHCC) today announced that, effective April 30, 2021, Daniel Strusz retired as Chairman of Tokio Marine HCC – Stop Loss Group, and Jay Ritchie, currently serving as President of the same group, has been named Chief Executive Officer, effective June 1, 2021. Mr. Strusz will continue to serve the Stop Loss Group as a consultant until October 31, 2021.
“We want to thank Dan for nearly 20 years of service at Tokio Marine HCC, while acknowledging his many contributions and achievements. Possessing significant industry experience and knowledge, he has been an invaluable leader who has helped us grow our Stop Loss Group to become one of the leading providers of stop loss insurance. We congratulate Dan and wish him the best in retirement,” said Susan Rivera, Tokio Marine HCC Chief Executive Officer.
Today, Tokio Marine HCC – Stop Loss Group covers over 3,000 self-funded employers and union plans for medical stop loss and another 1,000 groups with organ transplant insurance. By listening to the demands of the market, the group has developed exceptional products, unparalleled resources and value-added services that set it apart in the industry.
“Dan is completing an outstanding career in the insurance industry, and it has been a pleasure working with him over the last two decades. I applaud him for all of his success and hope he finds retirement as fruitful as his time at Tokio Marine HCC,” added Mr. Ritchie.
Ms. Rivera continued, “We are pleased to name Jay as Chief Executive Officer of the Stop Loss Group. For 25 years, his vision and expertise have helped shape our stop loss business, including the stop loss captive business and Taft-Hartley self-funded plans, as well as the industry as a whole through his participation in the Self-Insurance Institute of America (SIIA). We look to Jay to continue the evolution of our stop loss and organ transplant businesses by delivering new solutions and greater value to employer groups in the self-funded industry.”
About Tokio Marine HCC
Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $33 billion as of March 31, 2021. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCC’s major domestic insurance companies have financial strength ratings of “A+ (Strong)” from S&P Global Ratings, “A++ (Superior)” from A.M. Best, and “AA- (Very Strong)” from Fitch Ratings; its major international insurance companies have financial strength ratings of “A+ (Strong)” from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
Tokio Marine HCC – Stop Loss Group is the marketing name used to describe the medical stop loss and organ transplant-related insurance operations of Tokio Marine HCC through its wholly owned subsidiary HCC Life Insurance Company (HCC Life). HCC Life is a leading provider of medical stop loss insurance through brokers, consultants and third-party administrators. The Company has financial strength ratings of “A+ (Strong)” from S&P Global Ratings, “A++ (Superior)” from A.M. Best, and “AA- (Very Strong)” from Fitch Ratings. HCC Life is backed by the financial strength of its parent company, HCC Insurance Holdings, Inc. For more information about HCC Life, please visit www.tokiomarinehcc.com/life.
Doug Busker, Vice President – Public Relations
Tokio Marine HCC