Mitsui Sumitomo names CEO

Mitsui Sumitomo Insurance Group Holdings (USA) Inc., part of Tokyo-based MS&AD Insurance Group Holdings Inc., on Tuesday named Johan Slabbert to the newly created position of CEO, effective Jan. 1, 2023.

Mr. Slabbert is currently CEO of MS Amlin Underwriting Ltd., where he has led a turnaround in profitability since taking the post in October 2020, Mitsui Sumitomo said in a statement.

He had joined MS Amlin, also owned by Mitsui Sumitomo, earlier that year as a non-executive director and chairman of the board. Prior to that, he was chairman of Mitsui Sumitomo Insurance Co. (Europe) Ltd.

Mitsui Sumitomo said Mr. Slabbert’s appointment as CEO marks the next stage of its plans for international growth.

The company acquired Warren, New Jersey-based fronting insurer Transverse Insurance Group LLC last year in a $400 million deal.

Andrew Carrier, currently chief underwriting officer of MS Amlin, will succeed Mr. Slabbert as CEO of the unit, MS Amlin said in a separate statement.

Mr. Carrier was named chief underwriting officer in 2020 and prior to that was a senior vice president at Everest Re Group Ltd. He will take up the role on Jan. 1, 2023, subject to regulatory approval.