Tokio Marine Holdings, Inc. (hereinafter “TMHD”, President: Shuzo Sumi) announce a 40% investment in two Egypt-based Takaful Companies, which launched operations in January 2010, through TMHD’s wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd.

In December 2007, TMHD reached agreement with joint-venture partner Egypt Kuwait Holding Company, S.A.E. (hereinafter “EKH”, Chairman: Nasser Mohamed A. Al-Kharafi) to establish both a Family Takaful Company (a Shariah-compliant life insurance company) and a General Takaful Company (a Shariah-compliant non-life insurance company).

Following completion of the commercial registration on 5th October 2008 and other necessary registrations with the relevant authorities, the new takaful companies began operations in January 2010.

<Overview of the new Takaful Companies in Egypt>

The two takaful companies have targeted an annual contribution (premium income) of EGP 19 million（approximately USD 3.5 million) in the first financial year, which will increase to approximately EGP 750 million (USD 136.4 million) within ten years. As a result, the new companies are expected to gain more than one-fifth share of the takaful market in Egypt, where robust growth is anticipated.


<About EKH>

EKH is one of the largest and fastest growing private equity holding firm in the Middle East and Africa, with an authorized capital of USD 500 million and a subscribed and paid-up capital of USD 191 million. The company has a diversified portfolio of investments in the fertilizers, energy, manufacturing, insurance and information technology sectors.