Reinsurance News
Tokio Marine & Nichido Fire Insurance Co.
Delphi hires Jeffrey Lebovitz as Executive VP and CFO
20th November 2024
Insurance holding company Delphi has announced the appointment of Jeffrey Lebovitz as Executive Vice President and Chief Financial Officer. In his new role, Lebovits will leverage his over 20 years of experience with major investment firms and global investment banks to oversee the financial operations of Delphi and be responsible for ... Read the full article
Japanese regulator penalises largest property insurers for price fixing: Bloomberg
27th December 2023
As per a report from Bloomberg, Japan’s Financial Services Agency has issued business improvement orders on the core units of Tokio Marine Insurance, MS&AD Insurance, and Sompo Japan Insurance for "colluding to fix prices" in contracts with corporate clients. Japan's Finance Minister, Shunichi Suzuki, stated in a recent briefing it is "regrettable" that ... Read the full article
Tokio Marine targets space insurance market with Axelspace investment and collaboration
18th April 2023
Tokio Marine Holdings, Inc. has entered into a capital and business alliance with Axelspace Holdings Inc., a startup in the space business sector, to develop new insurance products and services for the space market. Axelspace, domiciled in Japan, is described as a pioneering startup in the space business field. The company has ... Read the full article
Japanese insurers in talks with reinsurers to resume coverage in Russian waters
29th December 2022
Japanese insurers, Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance and Mitsui Sumitomo Insurance, which are all set to halt marine coverage of risks related to the war in Ukraine starting next month, are in talks with reinsurers to resume those operations. The three insurers told shipowners that they would ... Read the full article
Tokio Marine HCC joins ADB to increase lending capacity in APAC
25th August 2022
Tokio Marine HCC (TMHCC) and Tokio Marine & Nichido Fire Insurance Co., Ltd. (TMNF) have partnered up with Asian Development Bank (ADB), along with four other global insurers to participate in ADB’s new framework credit insurance program. The program covers loans for financial institutions, and also increases lending capacity by $1 ... 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
Greensill collapse does not ‘crystallise any exposure for TMNF,’ says Tokio Marine
23rd March 2021
Japanese insurance giant Tokio Marine has said that the insolvency of financial services company, Greensill Capital, does not result in any exposure to the Australian branch of Tokio Marine & Nichido Fire Insurance Co., Ltd (TMNF). Greensill, a specialist in supply-chain finance, filed for administration earlier this month after warning that ... Read the full article
Tokio Marine & Nichido and NTT Data complete marine insurance blockchain PoC
12th November 2018
Japanese insurer Tokio Marine & Nichido Fire Insurance Co., Ltd., alongside NTT Data Corporation have announced that the pair have completed the Proof of Concept (PoC) for the application of blockchain technology to marine cargo insurance claims. According to research undertaken by Tokio Marine & Nichido and NTT Data, this was Japan's ... Read the full article
Tokio Marine expects July flooding in Japan to drive $452mn of losses
10th August 2018
Tokio Marine & Nichido Fire, a subsidiary of Tokio Marine Holdings, has announced that it expects to incur losses from the heavy rainfall that impacted Japan in July, 2018 of approximately 50 billion yen (US$451.9 million). Southwest Japan was hit by intense rainfall and subsequent flooding in the month of July, which caused ... Read the full article
IAG to sell Thai and Indonesian operations to Tokio Marine for $525mn
19th June 2018
IAG has revealed plans to sell its operations in Thailand and Indonesia to Tokio Marine & Nichido Fire Insurance Co., Ltd (Tokio Marine) for approximately $525 million. The sale agreement relates to IAG’s interests in 98.6% of Safety Insurance in Thailand and 80% of PT Asuransi Parolamas in Indonesia. Tokio Marine is ... Read the full article
Japanese insurers to raise quake premiums in some regions by up to 50%
1st September 2017
Japanese insurance firms are reassessing earthquake risks by region, which is expected to result in premiums rising by as much as 50% in some areas, according to reports. Japan's earthquake risks is well documented and in response to the country's vulnerability to earthquake events, insurers in the region are expected to raise ... Read the full article
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