Tokio Marine

Tokio Marine Holdings, Inc.[1], 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[2] people in 38 countries worldwide.

Tokio Marine Holdings, Inc.
Native name
東京海上ホールディングス株式会社
Tōkyō Kaijō Hōrudingusu kabushiki gaisha
TypePublic KK
IndustryInsurance
Founded1879 (1879)
HeadquartersMarunouchi, Tokyo, Japan
Area served
Worldwide
Key people
Shuzo Sumi (Chairman of the Board)
Satoru Komiya (President & Group CEO)
Revenue JP¥ 4,579,076 million (FY 2015)
JP¥ 254,540 million (FY 2015)
Number of employees
39,191 (FY2018)
ParentTMTBJ investment trusts (5.4%)
Meiji Yasuda Life (2.1%)
Websitetokiomarinehd.com

Main business of Tokio Marine are 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 (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.[3]

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.[4] In June 2015, Tokio Marine announced it would be acquiring HCC Insurance Holdings for $7.5 billion.[5] Tokio Marine forecast that 46% of its profits would come from outside Japan following the HCC acquisition.[4]

From June 2019, President and Group CEO is Satoru Komiya. In October 2019, Tokio Marine Insurance announced it would buy insurer Pure Group for about $3.1 billion.[6][7]

Holdings

Domestic Non-Life Insurance Business

Domestic Life Insurance Business

  • Tokio Marine & Nichido Life Insurance Co.
  • Tokio Marine & Nichido Financial Life Insurance Co.

International Insurance Business

Other Non-Insurance Businesses

References
  1. 東京海上ホールディングス株式会社 Tōkyō Kaijō Hōrudingusu Kabushiki gaisha, TYO: 8766
  2. http://www.tokiomarinehd.com/en/group/
  3. http://www.tokiomarinehd.com/ir/library/annual_report/pdf/annualreport2008.pdf
  4. Fukase, Atsuko (10 June 2015). "Tokio Marine to Buy HCC Insurance for $7.5 Billion". The Wall Street Journal. Retrieved 11 June 2015.
  5. Taiga Uranaka (10 June 2015). "Tokio Marine to buy HCC Insurance for $7.5 billion". Reuters. Retrieved 10 June 2015.
  6. Inagaki, Kana. "Tokio Marine agrees to buy US insurer Pure Group for $3.1bn". Retrieved October 3, 2019.
  7. "Tokio Marine to buy U.S. insurer Pure Group for about $3 billion". Reuters. 2019-10-03. Retrieved 2019-10-03.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.