Tokio Marine Holdings, Inc. (President: Shuzo Sumi), through its 100% UK Subsidiary R.J. Kiln & Company Limited (Kiln), has acquired a 49% stake in WNC Holdings (Headquartered in South Pasadena, California), a US based Managing General Agent. The investment was funded by internal resource at Kiln.

WNC mainly provides specialized property products for portfolios of mortgages, home equity and condominium loans to financial institutions. Kiln has been in business with WNC since 1986.

We aim to become one of the top tier insurance groups in the world, and place emphasis on developing scale and profitability from international business as our driving force in our mid-long term business development plan. We commit ourselves in M&A activities in addition to organic growth to achieve this goal.
Kiln, since its joining to our Group in March 2008, has been strengthening its distribution channel through investments to its business partners. This investment follows the strategy of Kiln and Tokio Marine Holdings, Inc. Kiln shall endeavor to develop scale and profit by increasing the business through WNC.


About WNC

(1) Headquarter:	South Pasadena, California and 4 locations within the US
(2) Year of Establishment:	1962
(3) Major business:	Managing General Agent(*). Provision of specialized property insurance products to mortgagee through financial institutions in the US.
(4) Number of staff:	190
(5) Premium Income (2010):	In excess of US $100m
* Profit and Loss of WNC will be included in Group statement from 2011 fiscal year (*) Managing General Agent is an agent with underwriting authority provided by the insurance carrier.

About Kiln
One of the largest insurance group at the Lloyd’s of London, UK. It is well known and established as one of the market leaders with its excellent underwriting expertise.

(1) Headquarter:	London, UK
(2) Year of Establishment:	1962
(3) Major business:	Underwriting mainly through Lloyd’s of London
(4) Financial Information (2010):	Net Premium Income: JPY73 billion Adjusted profit: JPY10 billion Combined Ratio: 83.5%