David Perez, a veteran of the Bermuda market, has been appointed as president, Excess Casualty, to lead the launch and build out of a new offering by Houston-based Tokio Marine HCC.

Mr Perez will report to Susan Rivera, chief executive of TMHCC.

The company said: “TMHCC’s entry into this space is timely and will provide insureds vital new capacity as limit retrenchment continues amid challenging loss cost trends.

“David’s unique understanding of the casualty industry, combined with TMHCC’s underwriting best practices honed over its 50-year history, creates a powerful foundation for profitable growth and market leadership.”

Mr Perez joins from Liberty Mutual, where he served as chief underwriting officer, Global Risk Solutions.

He has also held senior underwriting positions across the US and Bermuda, including as president, Starr Insurance Companies on the island from 1995 until 2001, and as president and chief underwriting officer, Global Casualty, at Bermudian-based StarStone Insurance from 2008 until 2012.