Country: Japan Page 12 / 44
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- December 22 2023
Tokio Marine board shake up will see new group chairman and CEO for Japan non-life arm
Hiroaki Shirota will take over as CEO of Tokio Marine & Nichido Fire from April 1 as current chief executive Shinichi Hirose is set to become chairman of the board of directors with Satoru Komiya stepping down.
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- December 19 2023
Japan antitrust regulator carries out on-site investigation on big four insurers over price fixing allegations
Tokio Marine & Nichido Fire, Mitsui Sumitomo, Aioi Nissay Dowa and Sompo Japan confirmed in separate announcements that they are being probed by the Japan Fair Trade Commission.
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- December 19 2023
Tokio Marine Holdings’ managing executive officer Robert O’Leary resigns
O'Leary has also been serving as the chairperson of the Japanese insurance group's US subsidiary Philadelphia Consolidated Holding since January 2021 and was formerly its president and CEO.
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- December 7 2023
Global brokers making headways in Japan’s tough insurance market
As the industry battles governance issues and scandals, the agent-dominated market is seeing a shift towards professional intermediaries with specialist skills and independent advice.
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- December 5 2023
Rising premium will boost Japan non-life insurers’ results: Fitch
The rating agency maintained a neutral outlook as carriers’ profitability remained resilient despite net insured losses from domestic nat cats stayed high in H1 FY 2023.
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- December 5 2023
Japanese trade insurer to cover US$680m loan for LNG purchases
In its first policy, the state-owned Nippon Export and Investment Insurance will cover a domestic credit facility to secure the country's energy supplies.
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- November 29 2023
‘Cannot run away’ from nat cat risks, says Tokio Marine chief: report
Chief executive Satoru Komiya told the Financial Times that nat cats, not systemic cyber-attack, remains the biggest risk to the sector.
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- November 20 2023
Japan’s big three script domestic underwriting rebound
Rate increases, absence of Covid-19, large nat cat losses and increased investment income help Tokio Marine, MS&AD and Sompo improve their earnings in the first half of FY 2023.
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- November 17 2023
MS Amlin turns around underwriting performance with 91.6% COR
The Japanese insurance group's overseas business saw its net premiums for the first six months grow 45% year-on-year to US$4bn.
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- November 13 2023
Tokio Marine floats disaster prevention and mitigation services firm
Led by Masashi Namatame as president, Tokio Marine Resilience will support customers and local communities by paying claims as well as address the causes of losses such as flooding, landslides, earthquakes, and tsunamis
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- October 27 2023
Marsh launches Japan JV broker targeting mid-to-large firms: report
The combination between MST and Marsh will focus on firms with annual sales of between US$200m to US$1.3bn.
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- October 24 2023
Chubb veteran Ben McGregor named head of property for APAC & Japan
Singapore-based McGregor will be responsible for the insurer's property line of business in the region from December 1, reporting to Paul McNamee, regional president of Asia Pacific.
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- October 20 2023
Record heat in 2023 spurs myriad APAC nat cat losses
15% of insured nat cat losses so far this year have been in Asia, with yet another US$100bn-plus loss year in the making, says Gallagher Re.
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- October 19 2023
Most Asian economies to see an increase in insolvencies: Allianz Trade
Countries set for the largest rises include South Korea, Japan, Australia and New Zealand, but Hong Kong is set to see a decrease in 2024.
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- October 4 2023
Lack of aggregate cover brings earnings volatility to APAC carriers
As rates soar, insurers are retaining more nat cat risk on their books, with the situation set to continue into the 2024 renewals.
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- October 3 2023
SMBC Aviation receives US$710m insurance settlement for jets stranded in Russia
The Japanese lessor had commenced litigation in the Irish courts late last year against 11 insurers over its 34 aircraft stuck in Russia following European sanctions.
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- September 28 2023
Tokio Marine domestic fire lines to benefit from rate hikes, says AM Best while affirming its ratings
Double-digit growth in premiums and profits from US operations boost the Japanese carrier's international business despite Taiwan Covid-19 losses.
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- September 28 2023
Price fixing by Japan’s big four carriers extends to more than 100 clients: report
The findings are from internal probes, which will be handed to the Financial Services Agency on Friday this week.
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- September 25 2023
AM Best affirms Sompo Japan’s ratings on strong overseas business growth
The Japanese insurer’s international arms bring in 38% of net premiums, 74% of adjusted profits in FY 2022, the rating agency said.
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- September 20 2023
Typhoon Nanmadol’s final loss count is US$850m: Perils
The storm hit the Japanese islands of Kyushu and Shikoku and the western and central regions of Japan’s main island of Honshu in September last year.
