Reinsurance firm Tokio Solution has appointed two new co-CEOs to head its Bermuda operation.

Susan Lane and Tsuyoshi Harigai, known as Harry, will take over from Kathleen Faries, who will become head of the Bermuda branch of Tokio Millenium Re (TMR), at the start of next year.

Ms Faries said: “We are delighted to announce Susan and Harry’s promotions to lead Tokio Solution.

“Both are highly experienced reinsurance professionals and I am confident in their abilities to maintain Tokio Solution’s standing as a pre-eminent, full service market facilitator.

“The appointment of Susan and Harry strengthens TMR’s third party capital strategy and will help to build on the services that Tokio Solution provides to our thhird party capital partners.”

Mr Harigai is currently head of operations in the Bermuda office of TMR and a member of the Tokio Solution board of directors. He will continue in both positions after he takes up his new post, where he manage corporate operations.

Ms Lane, at present senior vice-president and head of business development at Tokio Solution, will lead the company’s business development activities, including growth strategies, product development and marketing.

TMR, part of Tokio Marine and Nichido Fire Insurance, was set up in Bermuda in 2000, but re-domiciled to Switzerland two years ago and converted the Bermuda operation into a branch.