Reinsurance News

Tokio Marine Intl. non-life profit up by 200%

19th November 2021 - Author: Katie Baker

Total non-life profits from the international operations of re/insurance holding company Tokio Marine rose by 199.2% to $1.1bn in the second quarter of 2021’s financial year.

Tokio-Marine-LogoThe improved performance was driven by North America, although a better result was also evident in its European operations.

According to Tokio Marine, its international operations were also boosted by a reversal from COVID-19 effects, while its investment and underwriting performance greatly exceeded plans.

The company attributes the improved profit to a strong underwriting and investment performance in North America, aided by fewer-than-expected natural catastrophes. At the same time, non-life net premiums written (NPW) were reported at roughly $7.8 billion compared to roughly $6.9 billion for FY20 Q2.

In North America, the firm attributes the growth in premiums to rate increases and new business above plans.Despite continuing underwriting with a focus on profitability, performance is tracking above original projections, says the firm.

In Europe, higher premiums were a result of rate increases despite ongoing disciplined underwriting and heightened reinsurance use to stabilise earnings.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Sompo International profits recover to $313m in H1

Bermuda-based specialty P&C re/insurer Sompo International Holdings has recorded adjusted profit of $313 million for its fiscal H1 period, bouncing...