Tokio Marine

AM Best upgrades PURE after Tokio Marine keep-well deal and recapitalisation

The two operating units of high net worth-focused PURE Group of Insurance Companies have had their financial strength (FSR) and long-term issuer credit ratings (ICRs) upgraded by AM Best after they secured additional financial support from ultimate parent Tokio Marine & Nichido Fire Insurance Co Ltd (TMNF).

AIG and Tokio Marine swerve covering Hertz SEC settlement costs

A judge has dismissed a case brought by car rental giant Hertz seeking coverage from its D&O insurers for costs related to a Securities and Exchange Commission (SEC) settlement.

Tokio Marine faces no material Greensill risk in 2021/22 financial year

Tokio Marine has once again moved to pacify fears over its exposure to the failure of Greensill Capital, saying the collapse of the supply chain finance specialist would not have “any material impact” on the financial year ahead.

Marsh McLennan under spotlight over role in Greensill collapse: reports

An internal review by Credit Suisse into the collapse of supply chain finance firm Greensill Capital has placed the spotlight on broker Marsh McLennan, according to reports.

Tokio facing bigger-than-expected Greensill Capital exposure: Bloomberg report

Bloomberg has reported that Tokio Marine’s exposure to the Greensill Capital failure is higher than it expected because the insurer is not covered by its reinsurance contracts.

Tokio Marine to test validity of Greensill policies: reports

Japanese insurer Tokio Marine has sought to soothe market fears over its exposure to the failure of supply chain finance specialist Greensill Capital, saying the insurance policies at the heart of the collapse may not have been valid.

TMK and SA Meacock report profits in first Lloyd’s syndicate results for 2018 YoA

Tokio Marine Kiln has reported a profitable final result for the 2018 year of account at Syndicates 510 and 557, but the latest forecast for the 2019 year of account has been hit by deteriorations to expected losses from Covid-19 and hurricanes Laura and Sally.

Tokio Marine 9M profits halve as international unit bears brunt of $664mn Covid charge

Japanese carrier Tokio Marine has reported consolidated net income of 112.7bn yen ($1.08bn) for its fiscal nine-month period – down 50.3 percent year on year – as the impact of Covid-19 on the group reached 69.4bn yen ($663.7mn) during the reporting period.

Philadelphia CEO O’Leary to be replaced by Glomb

Philadelphia Insurance Company’s long-serving CEO Bob O’Leary will be replaced by current president John Glomb at the end of 2020.

Japanese non-life carriers’ Covid-19 claims to slow: Fitch

Japan’s big three non-life insurance groups are expected to reserve a lower level of Covid-19 claims going forward as the carriers’ overseas subsidiaries tighten their underwriting and narrow policy wordings for event cancellation and business interruption coverage, according to Fitch Ratings.

Tokio Marine to launch Canadian P&C insurer

Tokio Marine Holdings has announced plans to launch a P&C insurance company in Canada which it says could write several hundred million dollars of premium in five years.

Covid-19 costs Tokio Marine ¥30bn across international units in Q2

Tokio Marine HCC’s combined ratio deteriorated by 8.5 percentage points to 96.5 percent during the second quarter of the Japanese financial year, despite a modest reduction in the US specialty insurer’s natural catastrophe losses for the quarter.

TMK names Gallagher’s Ibeson chief people officer

Tokio Marine Kiln (TMK) has appointed Gallagher’s Elisabeth Ibeson as chief people officer.

RMS and Tokio Marine expand partnership

RMS and Tokio Marine have expanded their commercial partnership through a new agreement for the carrier to access the modelling firm’s product suite.

TMK Syndicate 510 receives green light for 15% pre-emption

Tokio Marine Kiln (TMK)’s flagship Lloyd’s Syndicate 510 has received Lloyd’s approval to increase its stamp capacity by 14.94 percent for the 2021 year of account.

TMK leads Lloyd’s parametric BI policy targeting SMEs

Tokio Marine Kiln is leading a new parametric business interruption policy launched through Lloyd’s to target small and medium sized enterprises.

TMK takes step closer to forming $2bn+ mega-syndicate with 510-1880 alignment

The TMK Managing Agency is formally aligning its two largest Lloyd’s Syndicates – 510 and 1880 – so they will write all business on a shared basis in a bid to cut outwards reinsurance/retro costs and attract more business from brokers, The Insurer can reveal.

Tokio Marine reinsurance buying at 1.4 cited in AM Best affirmation

Tokio Marine HCC posts near double-digit premium growth in Q1

Tokio Marine grew net written premiums 1.6 percent year-on-year in its international businesses during the first quarter of its financial year, driven by growth of close to 10 percent at Tokio Marine HCC.

TMK Syndicate 510 loss forecasts rise due to Covid-19 deterioration

Tokio Marine Kiln (TMK) has seen a deterioration of more than three percentage points in its latest forecasts for Syndicate 510 on the back of deterioration in Covid-19 claims estimates.