Reinsurance News
tokio marine
Tokio Marine’s international business reports 11.6% growth in net premiums in Q3’23
14th February 2024
Tokio Marine’s international business has reported profit of JPY300.8 billion for the third quarter of the 2023 fiscal year, representing an increase in profit from last year’s JPY187.3 billion. Profit was strong across all its international entities, Asia & Oceania produced a net profit of JPY23.6 billion, representing year-on-year growth of ... 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
Asian cities face environmental challenges, Singapore tops rankings for resilience: Tokio Marine
1st December 2023
In the face of escalating environmental challenges, Singapore has emerged as the highest-ranked global Asian city for overall resilience, securing the 4th position out of 25 major cities worldwide, according to The Resilient Cities Index 2023 launched by Tokio Marine Group and Economist Impact. The study, sponsored by Tokio Marine Group, ... Read the full article
Tokio Marine partners with Clir to enhance renewable energy insurance for Brazil
14th September 2023
In a strategic move aimed at bolstering its renewable energy insurance services in Brazil, major international specialty insurer Tokio Marine has entered into a partnership with Clir Renewables (Clir), a global market intelligence platform specialising in wind and solar energy. The collaboration will leverage Clir's extensive data and AI-powered analytics to ... Read the full article
Tokio Marine HCC to acquire Gulf Guaranty Employee Benefit Services
19th July 2023
Tokio Marine HCC, a member of the Tokio Marine Group has signed a definitive agreement to acquire Gulf Guaranty Employee Benefit Services, Inc. (Gulf Guaranty). Gulf Guaranty is a third-party administrator and managing general underwriter that designs, underwrites and administers group gap medical plans for small and mid-sized businesses. The transaction, which ... Read the full article
Ross Buchmueller to leave PURE, Leitch to take over as CEO
7th June 2023
Privilege Underwriters, Inc. and the affiliated companies of the PURE Group of Insurance Companies have announced that Ross Buchmueller, founder and Chief Executive Officer (CEO) of PURE, will be leaving the company at the end of 2023 after 18 years with the firm. Martin Leitch, the Co-President and Chief Underwriting Officer ... Read the full article
WTW launches insurance product to protect intangible assets
25th May 2023
WTW, a global advisory, broking and solutions company, has introduced a new financial product targeting clients intending to protect and leverage their intangible assets by considering a transfer of the associated risks. An intangible asset is one that is not physical in nature but one that can hold significant value, and ... Read the full article
Tokio Marine’s international business posts 29.8% growth in net premiums in FY22
19th May 2023
Tokio Marine’s international business posted a 29.8% rise in total net written premiums (NPW) to 2,570.4 billion yen at FY22, compared with 1,980.6 billion yen a year earlier. North America produced the strongest performance with 1,754.3 billion yen, representing year-on-year growth of 27.2% from 2021’s 1,378.9 billion yen. Asia & Oceania reported ... 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
Tokio Marine’s international business reports 43% growth in net premiums in Q3
14th February 2023
Tokio Marine’s international business has reported profit of JPY187.3 billion for the third quarter of the 2022 fiscal year, representing a slight increase in profit from last year’s JPY186.6 billion. While profit was strong across most of its international entities, in Asia & Oceania, the firm did report a decline ... Read the full article
bolttech completes Series B round of fundraising
18th October 2022
Singapore-based insurtech firm bolttech has completed Series B investment. The firm said in a statement that the round was led by Tokio Marine and other shareholders, and now values bolttech at an up-round valuation of approximately $1.5bn. This comes a year after the firm closed its Series A funding round after raising ... Read the full article
Top 20 U.S. cyber insurers all saw premium growth in 2021
6th October 2022
Of the approximately $4.8 billion of U.S. cyber insurance premiums underwritten in 2021 by the property & casualty (P&C) industry, more than 81% came from the top 20 cyber insurers in the U.S. marketplace, led by global insurer Chubb. Based on research data from rating agency AM Best, ... 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’s international businesses produce 22% rise in profit in Q1
5th August 2022
Tokio Marine's international businesses produced a profit of JPY66.9 billion for the first quarter of the 2022 fiscal year, representing year-on-year growth of 15%, driven by a 22% rise in profit to JPY68.9 billion within non-life operations. While profit was strong across most of its international entities, in Europe, the firm ... Read the full article
Outlook “favourable” for Japan’s major non-life groups – S&P
28th June 2022
In its latest industry report card, S&P says Japan's three major non-life insurance groups' consolidated net income is likely to remain favourable. Their net income soared more than 100% from the previous year, while the country’s major life insurers core profit in 2021 increased about 11% from the previous year. Read the full article