Tokio Marine HCC sues Gartner to cap Covid-19 claims at $150mnA subsidiary of Tokio Marine HCC has filed a lawsuit against Gartner, seeking a declaration that the research and advisory company is not entitled to more than $150mn in event cancellation insurance related to Covid-19.
Tokio Marine pegs Q1 Covid-19 overseas exposure at $346mnTokio Marine Holdings has estimated its Covid-19 exposures within its overseas business will total a 37bn yen ($345.7mn) hit to its net income in Q1, with the bulk of this disclosure stemming from its investment portfolio.
TMHCC sees North American A&H book shrink in Q3Tokio Marine Holdings’ speciality subsidiary Tokio Marine HCC (TMHCC) saw a decline in North American net earned premium of 2.6 percent to 277.1bn yen ($2.5bn) in the third quarter of 2019, mainly driven by a shrinkage of its accident & health (A&H) book.
Tokio closes Pure deal, S&P lowers HCC operating units’ ratingsS&P Global Ratings has lowered the ratings of HCC’s operating companies to match those of Japanese parent Tokio Marine following the completion of the acquisition of high net worth (HNW) specialist Privilege Underwriters and its subsidiaries, known collectively as Pure Group.
TMHCC builds delegated property team with former Axis duoTokio Marine HCC has appointed Stuart Heath to the new role of head of delegated property and Linda Johnson as senior underwriter for delegated property.
TMHCC broadens Harmeyer’s leadershipTokio Marine HCC has appointed Thomas Harmeyer to the role of executive vice president, adding oversight of aviation, claims, business innovation and global marketing to his suite of responsibilities.
Brock and Weist named co-CFOS at Tokio Marine HCCSharon Brock and Tom Weist have been appointed co-chief financial officers at Tokio Marine HCC.
TMHCC continues surety expansion with Mexico launchTokio Marine HCC has launched a subsidiary in Mexico to generate local surety business, as the group looks to expand its international footprint.
TMHCC adds two underwriters to media, film & TV practiceTokio Marine HCC (TMHCC) has appointed Stuart Wolstenholme as media property and liability underwriting manager and Lucy Smith as media, film & TV underwriter, as the carrier expands its professional risks division.
Tokio Marine HCC restructures after NAS acquisitionTokio Marine HCC (TMHCC) has merged the operations of its professional lines division with recently acquired Lloyd’s coverholder NAS Insurance Services (NAS) to form the TMHCC Cyber & Professional Lines Group.
Tokio Marine puts UK business into run-offJapanese insurance giant Tokio Marine has placed its UK insurance company, Tokio Marine Kiln Insurance (TMKI) into run-off.
Tokio Marine HCC bolsters marine liability team with Skuld’s KnightonSpecialty insurer Tokio Marine HCC has named Paul Knighton as marine liability and logistics underwriter.
Tokio Marine international profit climbs 30%; reinsurance returns to blackJapanese giant Tokio Marine Holdings has reported a 30 percent boost in profit within its international business arm – which includes Tokio Marine HCC, Tokio Marine Kiln and the carrier’s reinsurance operation – to 187.8bn yen ($1.7bn) for the 12 months ending 31 March 2019.
Tokio Marine exits US bond business, buys Australian bond agencySpecialty insurer Tokio Marine HCC has sold its bail bond operations to an undisclosed buyer as it exits the business in the US.
TMK names Curran head of reinsurance as Huckstepp exitsTokio Marine Kiln has appointed Will Curran head of reinsurance as David Huckstepp leaves the carrier for a “planned break from the sector”.
Tokio Marine HCC buys cyber specialist NASTokio Marine HCC has bought NAS Insurance Services, the California-based cyber and professional liability specialist underwriter it has worked with since 1975.
Specialty market in transition as carriers retrench: Tokio Marine HCC’s RiveraThe specialty insurance market is in transition as carriers shift to more conservative underwriting by reducing limits and tightening terms, according to Tokio Marine HCC CEO Susan Rivera.
Tokio Marine HCC names Schell president as Burke steps downTokio Marine HCC has named Michael Schell as president replacing William Burke who is retiring.
Tokio Marine’s European and reinsurance units return to blackJapanese giant Tokio Marine’s reinsurance and European businesses both returned to a profit in the first nine months of 2018.
Beazley-backed Digital Risks gains Lloyd’s coverholder statusUK-based insurtech start-up Digital Risks has achieved Lloyd’s coverholder status, enabling it to cover more specialist risks and insure UK businesses that trade internationally.