Menu

Reinsurance News

Tokio Marine set to launch new Canadian P&C firm

27th November 2020 - Author: Charlie Wood

Tokyo-based multinational insurance holding company Tokio Marine Holdings has applied to open a new property and casualty insurer in Canada.

Tokio-Marine-LogoTokio 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 comes at a time when Tokio Marine as a group has been focused on expanding the scale and profitability of its international business.

The Canadian P&C insurance market, ranked as the eighth largest in the world, constitutes an attractive environment for Tokio Marine.

The group already writes business in this market through the Canadian Branch of Tokio Marine & Nichido Fire Insurance and the Lloyd’s operations handled by its international subsidiaries.

It’s hoped this new company, along with the existing TMNF Canadian Branch and Lloyd’s operations, will enable the group to respond to a broader range of customers’ needs.

The group also hopes to build a platform able to realise mid to long term growth in the market, and achieve further profit growth as well as portfolio diversification of its international business.

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:
MAPFRE Salud ARS launches in the Dominican Republic

Insurer MAPFRE has announced that following its 51% acquisition of health insurer, ARS Palic, earlier this year, the Dominic Republic...

Close