1. Details of share repurchases made as approved by the board of directors on August 11, 2008

Tokio Marine Holdings, Inc. (the "Company") has repurchased its own shares through the Tokyo Stock Exchange, as approved by its board of directors on August 11, 2008. The repurchases were completed pursuant to Article 156 of the Companies Act, which is applicable in accordance with Article 165, paragraph 3 of the Companies Act, as described below.

(a) Period in which repurchases were made:
From October 1, 2008 through November 18, 2008
(b) Number of shares repurchased:
8,290,600 shares
(c) Aggregate purchase price of shares:
27,037,067,500 yen
(d) Method of repurchase:
Purchased through the Tokyo Stock Exchange

(For reference)

1. Details of the resolution approved at the meeting of the board of directors held on August 11, 2008 were as follows.

(a) Class of shares to be repurchased:
Common stock of the Company
(b) Aggregate number of shares to be repurchased:
Up to 18,000,000 shares
(Represents approximately 2.2% of total issued shares excluding treasury shares)
(c) Aggregate purchase price of shares:
Up to 50.0 billion yen
(d) Period in which repurchase could be made:
From August 12, 2008 through November 18, 2008 but excluding September 22, 2008 through September 30, 2008

2. Details of the share repurchases made during the period beginning on August 12, 2008 and ending on November 18, 2008 as approved by the board of directors on August 11, 2008. The share repurchases were completed pursuant to Article 156 of Companies Act, which is applicable in accordance with Article 165, paragraph 3 of the Companies Act, are described below.

(a) Aggregate number of shares repurchased:
14,682,100 shares
(Represents approximately 1.8 % of total issued shares, excluding treasury shares)
(b) Aggregate purchase price of shares:
49,999,835,500 yen

2. Change to the Company’s annual share repurchase plan

On May 21, 2008, the Company announced its annual share repurchase plan for the period beginning on June 24, 2008 and ending on the day of the Company's 7th Ordinary General Meeting of Shareholders, scheduled for June 2009, setting the annual maximum aggregate purchase price for shares at 100 billion yen. In accordance with this plan, the Company completed share repurchases between August 12, 2008 and November 18, 2008, as detailed above.

On November 19, 2008, the board of directors of the Company resolved to amend the plan to cease further share repurchases for the remaining period for the following reasons:

(a) to ensure management has the necessary resources available to implement the mid-term growth strategies of the Tokio Marine Group; and

(b) to maintain a sound capital basis and sufficient liquidity to navigate the further turbulence expected in domestic and overseas financial markets.

This change to the Company’s current annual share repurchase plan does not affect the Company’s continuing commitment to improving its capital efficiency. The Company will review and formulate the details of its capital management framework for the next fiscal year as part of its next mid-term business plan (for fiscal year 2009 to 2011).