Reinsurance News
Tokio Marine Holdings Inc.
Tokio Marine’s international businesses produce 37.2% rise in profit in Q1’23
8th August 2023
Tokio Marine’s international business produced a profit of 91.7 billion yen for the first quarter of the 2023 fiscal year, representing year-on-year growth of 37.2%, driven by a 35.2% rise in profit to 93.2 billion yen within non-life operations. The rise in total profit comes as the firm’s international operations reports ... Read the full article
Tokio Marine introduces Global Digital Market Intelligence Platform
7th July 2023
Tokio Marine Holdings has introduced a group-wide market intelligence platform to support operations related to collaboration with external companies. According to Tokio Marine, the system allows the firm to share information, including the status of search and scouting for potential future business partners, as well as meeting minutes. "As open innovation is ... Read the full article
Tokio Marine increases its shareholding in PT Asuransi Tokio Marine Indonesia to 80%
28th November 2022
Tokio Marine Holdings, Inc. has increased its shareholding in PT Asuransi Tokio Marine Indonesia from 60% to 80% through its wholly owned subsidiary, Tokio Marine Asia Pte. Ltd. The stake was increased through acquisition of 20% of shares held by joint venture partner, PT Asuransi Jasa Indonesia (Jasindo), at the price ... Read the full article
Tokio Marine Asia partners on insurtech investing with Arbor Ventures
12th August 2022
Tokio Marine Asia has announced a strategic partnership with Arbor Ventures, a leading global Fintech/InsurTech-focused venture capital (VC) firm headquartered in Singapore. The partnership marks Tokio Marine’s commitment to accelerating the digital transformation of the global insurance industry. The union was established through Tokio Marine’s Innovation Lab in Singapore. In April 2022, ... Read the full article
Tokio Marine launches $42m CVC Future Fund
21st April 2022
Multinational insurance holding company, Tokio Marine Holdings has announced the launch of Tokio Marine Future Fund – a Silicon Valley-headquartered corporate venture capital fund. Tokio Marine has committed €42 million to the initial fund with plans to deploy more capital into subsequent fund cycles. In a press release, it says that the ... Read the full article
Tokio Marine triples international profits through Q3
14th February 2022
Re/insurance holding company Tokio Marine has reported profit of 186.6 billion yen (USD 1.6 billion) for its international business at the third quarter mark of the fiscal year, more than three times as much as it recorded for the same period in the previous year. The unit's Q3 performance made progress ... Read the full article
Tokio Marine invests in ICEYE as pair embark on commercial collaboration
8th February 2022
Japan's Tokio Marine Holdings has made a strategic investment in ICEYE, a provider of satellite data and services to inform decision-making and analysis, as part of the latter's wider Series D funding round. The recent funding round saw ICEYE raise $136 million in order to expand its natural catastrophes solutions, ... Read the full article
Tokio Marine Holdings joins the Net-Zero Insurance Alliance
20th January 2022
Tokio Marine Group is supporting the transition towards achieving net-zero greenhouse gas (GHG) emissions and is promoting measures to combat climate change through both mitigation and adaptation. The group has been launching new insurance products and services that help achieve the goals of the United Nations Sustainable Development Goals (SDGs) and ... Read the full article
COVID drags Tokio Marine International 2020 profits down 44%
20th May 2021
Tokio Marine Holdings, Inc. has reported a 44% decrease in profits for its international business over the full-year 2020 period, which the company attributes almost entirely to the impact of the COVID-19 pandemic. Total full-year profits across the international business segments came to JPY 101.1 billion (USD 928 million), which was ... Read the full article
COVID weighs on Tokio Marine’s 9M results
11th February 2021
Japanese property and casualty insurance group Tokio Marine Holdings, Inc. has reported a 39% decrease in profits over the nine-month period ending December 31, 2020. Ordinary profit stood at 182.4 billion yen (USD 1.742 billion) for the period in 2020, versus 299.2 billion yen in the previous year. In particular, Tokio Marine ... Read the full article
Tokio Marine set to launch new Canadian P&C firm
27th November 2020
Tokyo-based multinational insurance holding company Tokio Marine Holdings has applied to open a new property and casualty insurer in Canada. Tokio Marine Canada is expected to be incorporated in the second half of 2021 and should be operational by the first half of 2022. It will be launched backed by CAD75 million. This announcement ... Read the full article
Fitch Ratings expects fewer COVID-19 related claims
26th November 2020
A recent report from Fitch Ratings shows the rating agency is expecting Tokio Marine Holdings, MS&AD Insurance Group Holdings and SOMPO Holdings to reserve fewer COVID-19 related claims. This is due to their overseas subsidiaries tightening underwriting and narrowing policy wording in regards to any event cancellation and business interruption. Major European ... Read the full article
Tokio Marine reveals participation in Lemonade’s reinsurance program
27th October 2020
Tokio Marine Holdings has announced its participation in the reinsurance program of insurtech firm Lemonade, in what it views as the first step towards a larger strategic partnership. The company has been a participant in the reinsurance program since July 1st 2020, which was around the same time that Lemonade ... Read the full article
Tokio Marine’s consolidated net income dips in FY2019
21st May 2020
Tokio Marine Holdings, Inc. has reported a decline in consolidated net income to JPY 259.7 billion in the fiscal year ended March 31st, 2020, while adjusted net income improved to JPY 286.7 billion on the back of improved results in domestic life and overseas insurance subsidiaries. Consolidated net income declined year-on-year ... Read the full article
RenRe has “far exceeded” initial goals of the TMR acquisition: CEO, O’Donnell
8th April 2020
More than a year since RenaissanceRe (RenRe) acquired Tokio Millennium Re (TMR) in a $1.5 billion deal, and the former's President and Chief Executive Officer (CEO), Kevin O'Donnell, feels the company has "far exceeded" its initial targets. It was announced in October 2018 that RenRe had entered into a definitive ... Read the full article