Tokio Marine

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Tokio Marine Holdings, Inc.
Native name
東京海上ホールディングス株式会社
Romanized name
Tōkyō Kaijō Hōrudingusu kabushiki gaisha
Type Public KK
Industry Insurance
Founded1879;143 years ago (1879)
Headquarters Marunouchi, Tokyo, Japan
Area served
Worldwide
Key people
Shuzo Sumi (Chairman of the Board)
Satoru Komiya (President & Group CEO)
RevenueIncrease2.svg JP¥ 4,579,076 million (FY 2015)
Increase2.svg JP¥ 254,540 million (FY 2015)
Number of employees
Increase2.svg 41,101 (2019) [1] [2]
Parent TMTBJ investment trusts (5.4%)
Meiji Yasuda Life (2.1%)
Website tokiomarinehd.com

Tokio Marine Holdings, Inc. [3] , is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue and is the parent company for the Tokio Marine Group which employs 39,000 [4] people in 38 countries worldwide.

Contents

The main business of Tokio Marine is Management of non-life insurance companies, life insurance companies, specialized securities companies, foreign companies engaged in insurance businesses and any other company which is or may become a subsidiary of the Company in accordance with the provisions of the Insurance Business Law of Japan, and any other business pertaining to the foregoing item.

Tokio Marine is part of Mitsubishi, one of the few Japanese giant conglomerates, known as keiretsu .

History

Founded in 1879 as Tokio Marine Insurance, it is the oldest insurance company in Japan. Millea Holdings was established in 2002 to become the parent company to Tokio Marine Insurance and Nichido Fire Insurance in preparation for their merger, before being renamed Tokio Marine Holdings in 2008. [5]

Tokio Marine acquired the Philadelphia Insurance Companies for $4.7 billion in 2008, and acquired the Delphi Financial Group for $2.66 billion in 2012. [6] In June 2015, Tokio Marine announced it would be acquiring HCC Insurance Holdings for $7.5 billion. [7] Tokio Marine forecast that 46% of its profits would come from outside Japan following the HCC acquisition. [6]

Since June 2019, Satoru Komiya has been the President and Group CEO. In October 2019, Tokio Marine Insurance announced it would buy insurer Pure Group for about $3.1 billion. [8] [9]

Controversies

Insure Our Future has described Tokio Marine’s environmental policy as “weak”. [10] Unlike its competitor Sompo, Tokio Marine does not plan to stop insuring coal-fired power plants in Japan. [10]

Holdings

Tokio Marine Life building in Johor Bahru, Malaysia Tokio Marine Life Building.jpg
Tokio Marine Life building in Johor Bahru, Malaysia

Domestic Non-Life Insurance Business

Domestic Life Insurance Business

International Insurance Business

Other Non-Insurance Businesses

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References

  1. Statista. "Number of employees working for Tokio Marine Holdings, Inc. from fiscal year 2010 to 2019 (in 1,000s)*". Statista. Retrieved 11 March 2021.
  2. Yahoo Finance. "Tokio Marine Holdings, Inc. profile". Yahoo Finance. Retrieved 11 March 2021.
  3. 東京海上ホールディングス株式会社, Tōkyō Kaijō Hōrudingusu Kabushiki gaisha , TYO: 8766
  4. "Tokio Marine Group | Tokio Marine Holdings, Inc".
  5. "アニュアルレポート | ダウンロードセンター | 東京海上ホールディングス - to be a Good Company -" (PDF).
  6. 1 2 Fukase, Atsuko (10 June 2015). "Tokio Marine to Buy HCC Insurance for $7.5 Billion". The Wall Street Journal. Retrieved 11 June 2015.
  7. Taiga Uranaka (10 June 2015). "Tokio Marine to buy HCC Insurance for $7.5 billion". Reuters. Retrieved 10 June 2015.
  8. Inagaki, Kana (3 October 2019). "Tokio Marine agrees to buy US insurer Pure Group for $3.1bn". Financial Times. Retrieved October 3, 2019.
  9. "Tokio Marine to buy U.S. insurer Pure Group for about $3 billion". Reuters. 2019-10-03. Retrieved 2019-10-03.
  10. 1 2 "Tokio Marine announces coal policy; climate group unimpressed".