Tokio Marine

UK court finds ~$10bn Russia-Ukraine aviation disputes must be heard in London

A UK high court has found that more than more than $10bn of legal claims brought by aircraft leasing companies against international (re)insurers must be heard in London rather than Moscow in a major win for lessors.

Tokio Marine sponsors $100mn Kizuna Re cat bond using sustainable development bond

A Tokio Marine Holdings subsidiary has become the first Japanese insurer to use the World Development Bank’s sustainable development bonds in its latest sponsor of the issuance of Kizuna Re III.

Tokio Marine introduces transition plan requirement for ~70% of portfolio emissions

Tokio Marine Holdings has revised the underwriting, investment and financing policies within its group climate strategy to potentially exclude 60 companies in heavy-emitting sectors if they do not provide a transition plan.

Tokio Marine unveils governance reforms following Japanese antitrust probe

Tokio Marine has pledged to strengthen its internal compliance practices, beef up corporate governance and cut specific executive pay as part of a plan submitted to the Japanese regulator following a probe into allegations of anti-competitive activity.

TMK names Shaw as CEO with Irick moving to lead intl business at group level

Tokio Marine Kiln has announced a leadership reshuffle which will see Matthew Shaw assume the role of CEO, while current CEO Brad Irick will take on a group-wide role as co-head of international business.

Tokio Marine International reports 16% increase in 9M NWP to $15.6bn

Tokio Marine Holdings has reported adjusted net income of ¥520.3bn for the nine months ended 31 December 2023, supported by underwriting growth in its international business despite loss reserve development in overseas run-off reinsurance and increased nat cat impacts.

Tokio Marine leads P&C gains as Nikkei Stock Average closes at 34-year high

Japan’s three largest P&C insurers saw significant share price increases on Tuesday following a request from the Japanese regulator to accelerate the sale of cross-shareholding networks.

TMHCCI agrees deal with Marsh for Lavaretus Underwriting

Tokio Marine HCC International (TMHCCI) has reached an agreement with Marsh Specialty UK for the transfer of certain employees from specialist MGA and Lloyd’s coverholder Lavaretus Underwriting.

Tokio Marine completes sale of Saudi Arabia joint venture

Tokio Marine Holdings has completed the previously announced sale of its shares in joint venture Arabian Shield Cooperative Insurance Company, a life and non-life insurance company in Saudi Arabia, to Alinma Bank.

Tokio Marine highlights climate action and disaster resilience in sustainability priorities

Climate action, improving disaster resilience and promoting diversity and inclusion are among the key priority issues set out by Tokio Marine Holdings in its latest sustainability strategy.

Tokio Marine exits Saudi Arabia joint venture with sale to Alinma Bank

Tokio Marine Holdings has agreed to sell all of its shares in joint venture Arabian Shield Cooperative Insurance Company, a life and non-life insurance company in Saudi Arabia, to Alinma Bank.

Tokio Marine’s Philadelphia promotes Czap and Killeen to SVP

Philadelphia Insurance Companies has handed new titles to surety claims specialist Kimberly Czap and underwriting-focused Douglas Killeen, with the pair now serving the Tokio Marine Group subsidiary as senior vice president.

Tokio Marine Holdings’ managing executive officer O’Leary to exit

Tokio Marine Holdings’ managing executive officer Robert O’Leary has resigned from the business.

Tokio Marine Holdings confirms price-fixing investigation

Tokio Marine Holdings has confirmed that the Japan Fair Trade Commission has conducted an on-site investigation of its Japanese subsidiary, Tokio Marine & Nichido Fire Insurance, related to allegations of violations of the Antimonopoly Act.

Tokio Marine North American profits grow 21% in H1

Tokio Marine’s North American operations grew profits by 21 percent to ¥170.2bn during the first half of the 2023 financial year, helping drive a ¥209.7bn profit across the Japanese insurer’s international non-life businesses.

Tokio Marine: London on road towards resilience but lack of cybersecurity preparedness a “growing concern”

London scores as one of the world’s most resilient cities for emergency response time and innovation incentives but is disproportionately exposed to extreme flood and cybersecurity risks, according to the Resilient Cities Index 2023.

Tokio Marine launches disaster prevention and mitigation-focused unit

Tokio Marine Holdings has formed a wholly owned subsidiary focused on providing natural disaster prevention and mitigation solutions.

TMK: Cyber tail could catch out new entrants as claims pressure mounts

Tokio Marine Kiln (TMK)’s Paul Gooch has questioned the sustainability of the current competitive environment in cyber insurance as claims put pressure on the future pricing cycle, with the cyber leader warning that new market entrants may not be adequately considering the tail risk.

Pushing boundaries with satellite technology

ICEYE’s Kohei Watanabe on how Japan’s 2017-18 floods have provided lessons on how satellite technology can enhance the response to major events.

TMK’s Leahy to join AIG as UK head of aviation

Tokio Marine Kiln’s divisional head of airline Lisa Leahy is set to join AIG as UK head of aviation, The Insurer can reveal.

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