Tokio Marine snaps up IAG underwriting agency

July 3 2019 by InsuranceAsia News Staff

Tokio Marine Management (Australasia) has acquired specialist underwriting agency Accident and Health International Underwriting (AHI) – an accident, medical and corporate travel underwriting agency.

The acquisition of AHI reflects the Tokio Marine Group’s efforts to further expand its operations in the Oceania region, and aligns with TMMA’s strategy to grow selected specialty lines of business in the region.

TMMA chief executive Shigekazu Ueno said: “With AHI’s expertise in underwriting accident, medical and corporate travel products and Tokio Marine’s financial strength and global reach, this acquisition presents attractive opportunities for the group to grow and expand these lines of business across the Oceania region and beyond.”

He added: “Our customers and broker network will benefit from Tokio Marine’s experience in travel and personal accident insurance, while knowing that they’re still working with a trusted, long‐term partner, a highly respected brand, and the market leading propositions offered by AHI.”

Insurance Australia Group has owned AHI since 2010.

Brad Robson, executive manager broker and agency at IAG, commented: “While IAG has enjoyed a rewarding partnership with AHI, we recognised there is an opportunity for AHI to expand beyond IAG’s focus of Australia and New Zealand and that Tokio Marine is a more natural owner of AHI to support its growth ambitions. We wish AHI all the best in its future strategy under Tokio Marine ownership.”

Tokio Marine Management (Australasia) now has over 140 employees and representatives across offices in both Australia and New Zealand, with its headquarters in Sydney.