Tokio Marine Nichido

Last updated
Tokio Marine & Nichido Fire Insurance Co., Ltd.
東京海上日動火災保険株式会社
Type Subsidiary
Industry Insurance
Founded1879
Headquarters
Chiyoda, Tokyo
,
Japan
Parent Tokio Marine Holdings
Website TokioMarine-Nichido.co.jp

Tokio Marine & Nichido Fire Insurance Co., Ltd. (東京海上日動火災保険株式会社, Tōkyō Kaijō Nichidō Kasai Hoken Kabushiki-Kaisha ), commonly called Tokio Marine Nichido, is a property/casualty insurance subsidiary of Tokio Marine Holdings, the largest non-mutual private insurance group in Japan. Tokio Marine Holdings was formerly known as Millea Group, which underwent a name change in July 2008. Its headquarters are in Marunouchi, Chiyoda, Tokyo. [1]

Contents

The company is one of the very few groups and individuals that still use the spelling Tokio for the city in the English language.

History

The Tokio Marine and Fire Insurance

The antecedent Tokyo Marine insurance is the first insurance company (as the marine insurance company) in Japan, and also the top sales damage insurance company of Japan in pre-war era.

The Nichido Fire & Marine Insurance

The company was one of the "Big Three Personal property insurance companies" in pre-war Japan. It belonged to the old Yasuda zaibatsu.

Merger

On 1 November 2004, Tokio Marine & Fire Insurance and Nichido Fire and Marine Insurance merged to create Tokio Marine & Nichido Fire Insurance Co., Ltd.

In 2008 Tokio Marine the president of the company resigned. It was found that the company had fraudulently failed to pay out insurance claims in over 1000 cases, they neglected to pay benefits on another 85,000 insurance products and they overcharged policyholders on premiums, causing a major scandal involving over 7 billion yen ($86,000,000 in today’s money) and leading to penalties for over 170 executives.

Subsidiaries

Japan

Overseas

People's Republic of China

  • Tokio Marine & Fire Insurance Company (Hong Kong)
  • Tokio Marine Investment Services Ltd.
  • Sino Life Insurance Co.

Singapore

Thailand

United Kingdom

United Arab Emirates

United States

  • Tokio Marine HCC
  • Philadelphia Insurance Companies
  • Tokio Marine Management, Inc.
  • Tokio Marine Technologies LLC
  • Trans Pacific Insurance Company
  • TM Casualty Insurance Company
  • TM Specialty Insurance Company
  • TNUS Insurance Company
  • First Insurance Company of Hawaii, Ltd.
  • TM Claims Service, Inc.
  • Tokio Marine North America Services LLC.

Other countries

  • Australia: Tokio Marine Management (Australasia) Pty. Ltd.
  • Bahrain: The Arab Eastern Insurance Co., Ltd.
  • Brazil: Tokio Marine Seguradora S.A.
  • Bermuda: Tokio Millennium Re Ltd.
  • Egypt: [Tokio Marine Egypt] Nile Takaful
  • Guam: Tokio Marine Pacific Insurance Limited
  • India: IFFCO Tokio General Insurance Company Limited
  • India: Edelweiss Tokio Life Insurance Company Limited
  • Indonesia: P.T. Asuransi Tokio Marine Indonesia
  • Ireland: Tokio Marine Global Re Limited
  • Vietnam: Bao Viet Tokio Marine Joint Venture Company.
  • Malaysia: Tokio Marine Insurans (Malaysia) Bhd.
  • México: Tokio Marine Compañía de Seguros, S.A. de C.V.
  • Republic of China (Taiwan): Tokio Marine Newa Insurance Co., Ltd.
  • Kingdom of Saudi Arabia: Alinma Tokio Marine Company
  • United Arab Emirates:Tokio Marine Middleeast Limited
  • United Arab Emirates:Tokio Marine Nichido Insurance UAE

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References

  1. "Corporate Profile." Tokio Marine Nichido. Retrieved on July 24, 2011. "Address of Head Office 2-1 Marunouchi 1-chome, Chiyoda-ku, Tokyo"