Tokio Marine
{{Short description|Japanese insurance holding company}}
{{Infobox company
| name = Tokio Marine Holdings, Inc.
| native_name = 東京海上ホールディングス株式会社
| native_name_lang = ja
| romanized_name = Tōkyō Kaijō Hōrudingusu kabushiki gaisha
| logo = Tokio Marine.svg
| image = Tokiwabashi Tower 3.jpg
| image_size = 250px
| image_caption = Company headquarters in Tokiwabashi Tower, Tokyo
| traded_as = {{plainlist|
- {{Tyo|8766}}
- Nikkei 225 component (8766)
- TOPIX Core30 component (8766)}}
| area_served = Worldwide
| key_people = Shuzo Sumi (Chairman of the Board)
Satoru Komiya (President & Group CEO)
| industry = Insurance
| revenue = {{profit}} JPY ¥ 5,863.7 billion (FY 2022)
| net_income = {{profit}} JPY ¥ 420.4 billion (FY 2022)
| owner = Mitsubishi Group
| num_employees = {{increase}} 43,048 (March, 2022) {{cite web|url=https://www.tokiomarinehd.com/en/ir/download/k82ffv000000e6ci-att/Integrated_Report_2022_E.pdf|title = 2022 Integrated Annual Report}}
| homepage = [http://www.tokiomarinehd.com/en/ tokiomarinehd.com]
| foundation = {{start date and age|1879}}
| location = Marunouchi, Tokyo, Japan
| parent = TMTBJ investment trusts (5.4%)
Meiji Yasuda Life (2.1%)
}}
{{Nihongo foot|Tokio Marine Holdings, Inc.|東京海上ホールディングス株式会社|Tōkyō Kaijō Hōrudingusu Kabushiki gaisha|{{Tyo|8766}}}}, is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue and is the parent company for the Tokio Marine Group which employs 39,000{{Cite web|url=http://www.tokiomarinehd.com/en/group/|title = Tokio Marine Group | Tokio Marine Holdings, Inc}} people in 38 countries worldwide.
The main business of Tokio Marine is Management of non-life insurance companies, life insurance companies, specialized securities companies, foreign companies engaged in insurance businesses and any other company which is or may become a subsidiary of the Company in accordance with the provisions of the Insurance Business Law of Japan, and any other business pertaining to the foregoing item.
History
Founded in 1879 as Tokio Marine Insurance, it is the oldest insurance company in Japan.
Millea Holdings was established in 2002 to become the parent company to Tokio Marine Insurance and Nichido Fire Insurance in preparation for their merger, before being renamed Tokio Marine Holdings in 2008.{{Cite web |url=http://www.tokiomarinehd.com/ir/library/annual_report/pdf/annualreport2008.pdf |title=アニュアルレポート | ダウンロードセンター | 東京海上ホールディングス - to be a Good Company -|url-status=dead|archive-date=December 20, 2016 |archive-url=https://web.archive.org/web/20161220103608/http://www.tokiomarinehd.com/ir/library/annual_report/pdf/annualreport2008.pdf }}
Tokio Marine acquired the Philadelphia Insurance Companies for $4.7 billion in 2008, and acquired the Delphi Financial Group for $2.66 billion in 2012.{{cite news|last1=Fukase|first1=Atsuko|title=Tokio Marine to Buy HCC Insurance for $7.5 Billion|url=https://www.wsj.com/articles/tokio-marine-to-buy-hcc-insurance-for-7-5-billion-1433921286?tesla=y|access-date=11 June 2015|work=The Wall Street Journal|date=10 June 2015}} In June 2015, Tokio Marine announced it would be acquiring HCC Insurance Holdings for $7.5 billion.{{cite web|author=Taiga Uranaka |url= https://www.reuters.com/article/us-hcc-ins-hldgs-m-a-tokio-marine-idUSKBN0OQ0KV20150610 |title= Tokio Marine to buy HCC Insurance for $7.5 billion |publisher=Reuters |date=10 June 2015 |access-date=10 June 2015}} Tokio Marine forecast that 46% of its profits would come from outside Japan following the HCC acquisition.
Since June 2019, Satoru Komiya has been the President and Group CEO. In October 2019, Tokio Marine Insurance announced it would buy insurer Pure Group for about $3.1 billion.{{Cite news|url=https://www.ft.com/content/abfc6422-e5c8-11e9-9743-db5a370481bc|title=Tokio Marine agrees to buy US insurer Pure Group for $3.1bn|last=Inagaki|first=Kana|newspaper=Financial Times|date=3 October 2019|access-date=October 3, 2019}}{{Cite news|url=https://www.reuters.com/article/us-pure-m-a-tokio-marine-idUSKBN1WI0BJ|title=Tokio Marine to buy U.S. insurer Pure Group for about $3 billion|date=2019-10-03|work=Reuters|access-date=2019-10-03|language=en}}
Controversies
Insure Our Future has described Tokio Marine’s environmental policy as “weak”.{{Cite magazine |last=Olano|first=Gabriel|date=October 1, 2020 |magazine=Insurance Business Asia|publisher=Key Media |url=https://www.insurancebusinessmag.com/asia/news/environmental/tokio-marine-announces-coal-policy-climate-group-unimpressed-234953.aspx|title = Tokio Marine announces coal policy; climate group unimpressed}} Unlike its competitor Sompo, Tokio Marine does not plan to stop insuring coal-fired power plants in Japan.
Holdings
File:Tokio Marine Life Building.jpg, Malaysia]]
Domestic Non-Life Insurance Business
- Tokio Marine & Nichido Fire Insurance Co.
- Nisshin Fire & Marine Co.
- E.design Insurance
- Tokio Marine Millea SAST
Domestic Life Insurance Business
- Tokio Marine & Nichido Life Insurance Co.
- Tokio Marine & Nichido Financial Life Insurance Co.
International Insurance Business
- [http://www.tmhcc.com Tokio Marine HCC]
- [http://www.phly.com Philadelphia Insurance Companies]
- [http://www.tokiomarineasia.com Tokio Marine Asia - Regional HQ for Asia Pacific]
- First Insurance Company of Hawaii, Ltd.
- [http://www.tokiomarinekiln.com Tokio Marine Kiln Group]
- Delphi Financial Group
- [https://tmamerica.com/ Tokio Marine America]
- [https://www.safetynational.com/ Safety National]
Other Non-Insurance Businesses
- [https://www.tokiomarineam.com Tokio Marine Asset Management]
- [https://www.tokiomarinetech.com Tokio Marine Technologies] {{Webarchive|url=https://web.archive.org/web/20190108181943/https://www.tokiomarinetech.com/ |date=2019-01-08 }}
- Tokio Marine & Nichido Career Service Co.
- Millea Real-Estate-Risk Management
- Tokio Marine & Nichido Facilities
- Millea Mondial
- Tokio Marine Nichido Samuel
References
- [https://web.archive.org/web/20120417120914/http://ir.tokiomarinehd.com/en/AnnualReport/IRFilingDataDownPar/0/IRFilingDownPar/0/PDFile/AR11_all_E.pdf Tokio Marine Holdings - Annual Report 2011]
{{Reflist}}
External links
{{Portal|Tokyo|Companies}}
{{Commons category|Tokio Marine Holdings}}
- [http://www.tokiomarinehd.com Company website] (in Japanese)
- [http://www.tokiomarinehd.com/en Company website] (in English)
{{TOPIX 100}}
{{Nikkei 225}}
{{Major insurance companies}}
{{Mitsubishi Group}}
{{Authority control}}
Category:Financial services companies established in 1879
Category:Companies listed on the Tokyo Stock Exchange
Category:Companies listed on the Osaka Exchange
Category:Companies in the Nikkei 225
Category:Insurance companies based in Tokyo
Category:Japanese companies established in 2002
Category:Holding companies established in 2002
Category:Holding companies based in Tokyo
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