Reinsurance News
Tokio Marine Holdings Inc.
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
TMK highlights positive impact of rate rises, cat losses hit 2017 account
13th February 2020
Tokio Martine Kiln (TMK) has said that rate rises are positively impacting the 2019 year of account and are continuing into 2020, while the 2017 and 2018 year of accounts remain pressured on the back of heavy catastrophe losses. TMK, which is part of large Japanese insurer, Tokio Marine, has released ... Read the full article
Tokio Marine deploys Metromile’s AI tech across auto book
12th February 2020
Japanese insurer Tokio Marine Group has deployed artificial intelligence (AI) powered technology from Metromile across its $13 billion auto insurance book in a move that it hopes will significantly improve customer claims. Using Metromile’s digital first notice of loss product, Metromile REPORT, Tokio Marine hopes to simplify the claims process by ... Read the full article
Tokio Marine completes $3.1bn acquisition of Pure Group
11th February 2020
Large Japanese property and casualty insurance group, Tokio Marine Holdings, Inc., has completed its previously announced acquisition of Privilege Underwriters, Inc. and its subsidiaries (Pure Group). It was announced in October of last year that Tokio Marine was set to acquire the US high net worth insurance specialist for $3.1 ... Read the full article
Tokio Marine selling stake in RenRe
7th January 2020
Bermudian reinsurance firm RenaissanceRe (RenRe) has announced that Tokio Marine plans to sell its 3.9% stake in the company, worth about $334 million. The stake will be offloaded via an underwritten public secondary offering of 1,739,071 common shares by Tokio Marine & Nichido Fire Insurance Co., Ltd. These shares formed part of ... Read the full article
Tokio Marine to expand into Brazilian mortgage & homeowners insurance market
7th January 2020
Tokio Marine Holdings, Inc. has announced the execution of a definitive agreement between its subsidiary, Tokio Marine Seguradora S.A., and Caixa Seguridade Participações S.A, an insurance holding unit of Caixa Econômica Federal, to establish a joint venture insurer to underwrite mortgage and homeowners insurance. Caixa Econômica Federal is a Brazilian state-owned ... Read the full article
Tokio Marine partners with Plug and Play in Singapore
19th August 2019
Tokio Marine Holdings, the largest property and casualty (P&C) insurance group in Japan, has announced a new partnership with Plug and Play’s insurtech program in Singapore. Plug and Play is a Silicon Valley-based innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups. It has had a ... Read the full article
RenaissanceRe acquiring Tokio Millennium Re in $1.5 billion deal
30th October 2018
Bermudian reinsurance company RenaissanceRe has announced that it is to acquire Japanese holding company Tokio Marine’s reinsurance units, which include Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited. RenaissanceRe said it has entered into a definitive agreement with Tokio Marine Holdings, Inc. to acquire the firm's reinsurance platform, which ... Read the full article
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