Tokio Marine Holdings, Inc. has launched Tokio Marine GX, a new international offering aimed at advancing green transformation, founded upon GCube, an underwriter of renewable energy products.
The launch furthers the Group’s efforts toward carbon neutrality and the transition to a decarbonised society.
Tokio Marine Group aims to contribute to social development and industrial growth by providing insurance solutions and risk consulting services, supporting customers and communities in their transition toward carbon neutrality.
By leveraging GCube’s expertise, the Group will accelerate its global offering in the green transition space through Tokio Marine GX, enabling it to share and deploy the Group’s expertise and underwriting resources more effectively.
GCube became part of the Tokio Marine Group following its acquisition by Tokio Marine HCC in 2020.
Following the launch, the Group will continue to collaborate on the research and development of insurance products and risk consulting services to address the risks associated with new technologies in the energy transition and related fields.
Tokio Marine Holdings stated, “Specifically, we will expand our lineup of insurance products and services, address new risks related to GX, and leverage our Group’s strong financial base to enhance our offering of underwriting capacity. Through these efforts, we will be able to address a wider range of risks while also enhancing Group synergy.
“By deploying Tokio Marine GX, we aim to establish our Group as the leading player in the field of GX. Going forward, we will continue to enable and accelerate our customers’ GX initiatives in response to climate change through insurance products and risk management.”
Brad Irick, Managing Executive Officer and Co-Head of International, Tokio Marine Holdings, commented: “We are delighted to announce the launch of Tokio Marine GX. This is a unique insurance proposition. It offers access to the pioneering underwriting spirit of GCube, combined with expertise drawn from across Tokio Marine’s global operations. TMGX clients will benefit from deep claims experience, holistic support and extensive risk appetite in every facet of renewable energy and the green transition. All of this is backed by the financial resources and capacity of one of the world’s largest insurers and an institutional commitment to accelerating societal progress. TMGX will ensure that Tokio Marine is at the forefront of the green transition.”
“TMGX will harness the collective expertise and experience from across the Tokio Marine Group to stand shoulder-to-shoulder with clients at each stage of their decarbonization journey. Together, we will unlock new commercial opportunities, while creating a greener, more resilient world for tomorrow,: added Fraser McLachlan, Chairman of TMGX.
