The CEO of Tokio Marine HCC Christopher Williams is to step down from the helm of the carrier in September to be succeeded by Susan Rivera. 

Williams will stay with the US insurer which he sold to Tokio Marine in a $7.5bn 2015 deal, taking on the role of managing executive officer and co-head of international business of Tokio Marine Holdings.

Rivera joined Tokio Marine HCC in April from V3 Insurance Partners LLC, the MGA administrator that she led and co-founded.

In 2005, Rivera resigned from ACE Group following the disgraced former NY Attorney-General Eliot Spitzer’s investigations into the industry. She subsequently joined Praetorian Group which was then acquired by QBE in 2007. Before ACE, she worked at AIG in various roles.

“We are pleased to announce Susan Rivera as Tokio Marine HCC’s next chief executive officer,” Williams said.

“With her extensive experience leading insurance operations, developing business strategies and introducing innovative ideas in a rapidly changing market, she is well suited to lead Tokio Marine HCC into the future,” Williams said.

“As a board member and more recently as a member of the executive management team, I have become very familiar with Tokio Marine HCC’s business leaders and lines of business and am excited to be offered the opportunity to lead this outstanding organisation with its very talented team of people as we continue to grow the company and build on its past successes,” Rivera added.