Tokio Marine finalises Brexit plans

November 21 2018 by InsuranceAsia News Staff

Tokio Marine Group has gained approval from the High Court of England and Wales to complete the process of transferring its corporate policies across Europe to its newly established subsidiary Tokio Marine Europe SA in Luxembourg.

Both Tokio Marine Kiln and Tokio Marine HCC have worked together to set up the new subsidiary since making the decision in September 2017; they will use a Part VII transfer.

Tokio Marine Europe chief executive Thibaud Hervy commented: “Gaining approval from the High Court is a major step in securing our Brexit plans. Regardless of the outcome that may result from the Brexit negotiations, [Tokio Marine Europe] will be able to ensure that all brokers and clients continue to receive the highest level of service.”

Tokio Marine is also planning to use the new Lloyd’s subsidiary in Brussels.