Tokio Marine HCC has posted a 12.5% increase in net premiums written in its Q223 financial year results to JPY 413.4 billion.
Net premiums written in the firm’s Non-life: North America segment reached JPY 137.3 billion, while A&H reached JPY 124.3 billion, and International came in at JPY 151.4 billion.
At the same time, net premiums earned also witnessed an 11.7% increase, totaling JPY 365.7 billion, compared to last year’s JPY 327.4 billion.
Tokio Marine HCC’s underwriting profit for the quarter sits at JPY 29.7 billion, a 17.2% decrease from JPY 36 billion from 2022.
In addition, the company’s combined ratio for the quarter was 86.9%, a slight difference from last year’s 87%.
This was due to the firm’s loss ratio sitting at 62%, and it’s expense ratio sitting at 25% respectively for the quarter.
Tokio Marine HCC also reported net incurred losses of JPY 226.6 billion for the quarter, an increase of 6.9% from JPY 211.9 billion from the previous year.
Nat-Cat losses for the quarter were JPY 3.5 billion, compared to JPY 1.1 billion from the prior year period.