Reinsurance News
tokio marine
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
Tokio Marine sees net US premiums written jump >25%
20th May 2022
Tokio Marine Holdings has said it saw net premiums written in the US jump over a quarter between the end of 2020 and the end of 2021. The firm, said in its latest results, that net written premiums totalled $1,378.9m in 2021, up from $1,095.8m in 2020. This represented an increase ... 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 Asia names Masahito Hirai as CEO
4th January 2022
Re/insurance holding company Tokio Marine has appointed Masahito Hirai as Chief Executive Officer of Tokio Marine Asia (TMA), its Asia regional headquarters. Hirai will be based in Singapore and succeeds Noboru Yamagata, who had been interim CEO and will continue in his broader capacity as the managing executive officer of Tokio ... Read the full article
Tokio Marine’s FY21 Q1 international profits jump $358mn
10th August 2021
Overall profits from the international operations of re/insurance holding company Tokio Marine rose by $358 million to $526 million in the first quarter of 2021's financial year. Year on year, profits rose primarily due to a reversal from COVID-19's effects but was impacted by $133 million in natural catastrophe costs. The firm expects to ... 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 says reinsurance protects it against Greensill losses
10th March 2021
Japanese insurance giant Tokio Marine has told the Financial Times that it expects its exposure to the collapse of supply-chain financing group Greensill will be limited by its reinsurance protection. The exposure comes through trade credit insurance policies relating to the, extremely well-documented by the FT's journalists, collapse ... 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
RMS and Tokio Marine expand partnership
16th October 2020
Catastrophe risk solutions company, RMS and Tokio Marine Holdings have announced the expansion of their global commercial partnership through a new agreement. RMS models underlie Tokio Marine’s global view of natural catastrophe risk, and Tokio Marine entities have access to a range of RMS RiskLink and HD models as well as ... Read the full article
TMK adds Valerie Gordon-Walker as Independent Non-Exec Director
10th August 2020
Tokio Marine Kiln has announced the appointment of Valerie Gordon-Walker as an Independent Non-Executive Director to the TMK Syndicates (TMKS) Board. Gordon-Walker is a former Managing Director, Executive Committee Member and Group Head of People within a wide range of industries. She also has significant regulatory experience having acted as a Senior ... Read the full article
Eos closes Strategic InsurTech Fund, welcomes Tokio Marine & Direct Line
22nd May 2020
Eos Venture Partners has announced the close of its Strategic InsurTech Fund, which, invests in global InsurTech companies while at the same time promoting and facilitating engagement between incumbents and emerging tech providers. Established in 2016, Eos has offices in London and Philadelphia, and operates as a global independent Strategic Venture ... Read the full article
Matthew Shaw joins TMK from Chubb as new CUO
5th May 2020
Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has hired Matthew Shaw from Chubb as its new Chief Underwriting Officer (CUO). Shaw joins TMK from insurer and reinsurer Chubb, where he most recently served as divisional president of global markets. He joined ACE (latterly Chubb) in 2002 having ... Read the full article
TMK cyber policy includes physical damage cover
24th February 2020
Tokio Marine Kiln, part of global insurance group Tokio Marine, has launched an enhanced policy designed to protect against physical damage from cyber attacks. Cyber Ctrl PD+ offers affirmative cover for property damage and ensuing business interruption arising from a cyber attack. “As most cyber insurance policies exclude cover for property damage, ... Read the full article
Egyptian investors acquire stake in Tokio Marine Takaful subsidiary
23rd December 2019
EFG Finance Holding, a subsidiary of Egyptian investment bank EFG Hermes, along with GB Capital, a wholly owned subsidiary of GB Auto, have entered into a definitive sale and purchase agreement to acquire a 75% stake in Tokio Marine Egypt Family Takaful. The deal is worth £4.1 million and is subject ... Read the full article
Tokio Marine Kiln launches flagship cyber product in Asia
31st October 2019
Tokio Marine Kiln, part of global insurance group Tokio Marine, has launched its flagship cyber product in Asia. Cyber Ctrl was developed in response to an increasing demand for comprehensive cyber coverage and prevention services, and offers businesses specialist breach preparation and threat monitoring services. Marketed as a policy enhancement to small ... Read the full article
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