Tokio Marine Holdings　Topics

TMNF's achievement of carbon neutral status

Tue, 10 Aug 2010 06:30:00 GMT

Tokio Marine & Nichido Fire Insurance Co., Ltd. ("TMNF"), a subsidiary of Tokio Marine Holdings, Inc. became carbon neutral in its domestic business operations in fiscal 2009.
TMNF’s Carbon Neutral initiative of planting mangroves to absorb and stabilize CO2 is a spearheading endeavor not only in Japan but also across the world.
Please refer to the TMNF website for details.

TMNF's new services with Green Gift project

Fri, 23 Jul 2010 00:29:00 GMT

Tokio Marine & Nichido Fire Insurance Co., Ltd. ("TMNF"), a subsidiary of Tokio Marine Holdings, Inc. will launch various new services for policyholders who choose to view policy conditions on our website (“Web Policy ”) rather than in paper form. The aim is to help them feel that they are contributing to protection of the global environment by reducing usage of paper. These services will start from September 2010.
Please refer to the TMNF website for details.

TMNF's participation in "Room to Read" education support program for developing countries

Fri, 09 Jul 2010 05:52:00 GMT

Tokio Marine & Nichido Fire Insurance Co., Ltd. ("TMNF"), a subsidiary of Tokio Marine Holdings, Inc. reached an agreement with "Room to Read," a San Francisco-based international NGO (founder: John Wood), to sponsor an education support program for Asian developing countries and will donate approximately US$ 100,000 annually in the next three years starting from 2010.
Please refer to the TMNF website for details.

TOKIO MARINE ANNOUNCES INTERNATIONAL EXPANSION AND OPERATIONAL RESTRUCTURING

Wed, 07 Jul 2010 02:19:12 GMT

5th July, 2010 London

Tokio Marine, the global insurance group, today announces plans to expand its international reinsurance and large commercial property operations. It is also announcing the opening of new offices for reinsurance business in Switzerland and Australia.

These developments are part of an ongoing strategy by Tokio Marine to increase its international presence and capital efficiency.

Mr Shin-Ichiro Okada, Senior Managing Director of Tokio Marine Holdings,Inc. said,
“This expansion of our international operations is firmly in line with our established strategy; we are working towards profitable international growth on all fronts."
“With the newly reorganised international reinsurance and commercial property arms of our international business in place, we will be better positioned than ever to offer our brokers and clients easy access to a full range of products that are consistent around the world, backed by our Standard & Poor’s AA rated security.”

Highlights

・	Unifying global reinsurance brand as Tokio Millennium Re (TMR)
・	Opening new TMR branches in Switzerland and Australia
・	Establishing a Tokio Marine Global (TMG) business unit offering Large Commercial Property products operating in London and in New York

New worldwide reinsurance strategy (TMR)

Tokio Marine is bringing together its international reinsurance operations under the existing Tokio Millennium Re (TMR) brand. Headed by Tatsuhiko Hoshina, TMR will harmonise its successful Bermuda and London operations through rebranding the current Tokio Marine Global Ltd. as Tokio Millennium Re (UK) Limited.

As part of ongoing plans to diversify its geographical spread, to capitalise on fast-growth regions outside Japan, and to enhance capital efficiency, TMR is also announcing plans to open new branches in Switzerland and Australia for the first time.
In line with the emergence of new reinsurance hubs in Europe, Asia and Oceania, TMR is following the same strategy by establishing offices in Zurich and Sydney, handling treaty reinsurance.

New large commercial property strategy (TMG)

In order to facilitate Tokio Marine’s growth strategy in the large commercial property insurance market, it is establishing a TMG business unit, which will write large commercial property business in New York and London, to be headed by Philip Wray.

In London, the TMG business unit will be a division of Lloyd’s Tokio Marine Kiln Syndicate 1880 (managed by R J Kiln), which will write large commercial property and engineering business currently handled by Tokio Marine Global Ltd.

In New York, TMG business unit will be a division of Tokio Marine Management, Inc., the U.S. manager of Tokio Marine & Nichido Fire Insurance Co., Ltd. (US Branch), which will write large commercial property business.

These developments are a key part of Tokio Marine’s ongoing strategy of profitable international expansion. The new structure will make it easier for international brokers and customers to deal with TMR and TMG. The new streamlined TMG and TMR organisations will offer consistent service across a range of markets around the world.

All changes will take effect for business incepting on 1 January 2011.

Exclusive Bancassurance Agreement in Malaysia

Thu, 01 Jul 2010 04:28:32 GMT

Tokio Marine Life Insurance Malaysia Bhd. (hereinafter "TMLM"), a subsidiary of Tokio Marine Holdings, Inc. (hereinafter "TMHD", President: Shuzo Sumi), has reached an Exclusive Bancassurance Agreement with RHB Bank Bhd. (hereinafter "RHB"), one of the largest commercial banks in Malaysia.

Under this Agreement, RHB will promote, via its branches and alternative distribution channels, TMLM's life insurance products exclusively. TMLM and RHB have targeted an annual first year premium (hereinafter "AFYP") of RM266 million (USD82 million) in first contract year and AFYP of RM547 million (USD168 million) in tenth contract year. Each AFYP represents to approximately 1.5 times, 3 times of the performance of TMLM in 2009 respectively. With this agreement, it aspires to become the top 5 of life insurance companies in Malaysia with more than 6% market share for 2015.

Tokio Marine Group has acquired Asia General Holdings Ltd., which had both life and general insurance subsidiaries in Malaysia and Singapore, and taken over a general insurance operation of PanGlobal Insurance Bhd., a general insurance company in Malaysia. Through this agreement, we expect to expand and strengthen our insurance business operations in Malaysia.

In addition, to harness the strength of "Tokio Marine" brand in Asia region, TMLM has changed the company name of "TM Asia Life Malaysia Bhd." to "Tokio Marine Life Insurance Malaysia Bhd." on June 22nd. TM Asia Life Singapore Ltd., a life insurance subsidiary in Singapore, will also change the company name to "Tokio Marine Life Singapore Ltd." around September.

Tokio Marine Group expects to develop its insurance business operations and aspires for mid and long term growth in Asia region with high growth potential.

< Summary of RHB > (As of December 31st)
Company Name: RHB Bank Bhd.
Head Office: Kuala Lumpur
Capital: RM3,318 million (USD1,021 million)
Total Assets: RM94,045 million (USD28,937 million) [The 4th-largest in Malaysian banks]

< Summary of TMLM > (As of December 31st)
Company Name: Tokio Marine Life Insurance Bhd.
Head Office: Kuala Lumpur
Capital: RM100 million (USD31 million)
Total Assets: RM4,439 million (USD1,366 million)
TMHD's voting rights ratio: 79.55%
AFYP: RM179 million (USD55 million) [Market share: 2.4%、Ranked 12th in AFYP]

(Exchange rate: USD1.00= RM3.25)

Opening of a Branch Office in Guandong of our Chinese Subsidiary

Wed, 30 Jun 2010 10:00:00 GMT

Tokio Marine Holdings, Inc. (President: Shuzo Sumi) has the pleasure of announcing the opening of the Guandong Branch, the second branch in China of The Tokio Marine & Nichido Fire insurance Company (China) Limited, a group member of Tokio Marine Holdings, Inc.,with effect from July 1, 2010.

The Tokio Marine & Nichido Fire Insurance Company (China) Limited (hereunder referred to as "the Chinese subsidiary") started operations after having reorganized the Shanghai branch (the first business organization established by a Japanese insurance company in Sep., 1994) into a wholly-owned subsidiary. Soon after the establishment, we started a new Shanghai branch under the management of the Chinese subsidiary and have opened today the second branch, the Guangdong branch. After the new branch is established, we will be able to accept business directly from customers in Guangdong province and thus enhance our attentive and quick services more fitted to customers' needs for P&C insurance.

With customers' support, we have been extending our business smoothly and have now become one of the largest companies among the foreign-owned P&C insurance companies in China. Along with writing various kinds of insurance that meet customers' needs, we are ready to provide risk management services for various risks in conformity with the regulations specific to China. The Guangdong Branch is committed to providing high-quality services and expanding a service network of branches in North China and East China by stages.

The Tokio Marine group is dedicated to providing high quality products and services focused on P&C insurance and life insurance, thus providing safe and security to all customers doing business in China.

Overview of The Guangdong Branch
1. Company's name:
   The Tokio Marine & Nichido Fire Insurance Company (China) Limited, Guangdong branch
2. Address:
   Room 5207-08 Citic Plaza, 233 Tianhe Bei Lu, Guangzhou, 510613, P.R.C
   Tel: [China 86]-020-8752-1800
3. Number of staff: About 20
4. Business area: Guangdong province
5. Date of opening: July 1st, 2010

Overview of The Tokio Marine & Nichido Fire Insurance Company (China) Limited
1. Company's name:
The Tokio Marine & Nichido Fire Insurance Company (China) Limited
2. Date of establishment: July 22nd, 2008
   (Date of the commencement of operations: 1st Nov 2008)
   ※Reorganized the Shanghai Branch which was established in Sep 1994 into a
wholly-owned subsidiary.
3. Address:
   38F HSBC Tower, Lujiazui Ring Road, Pudong New Area, Shanghai, P.R.C
   Postal Code: 200120
4. Capital: CNY 300 million (about JPY 4 billion)
   (Owned 100% by Tokio Marine & Nichido Fire Insurance Co., Ltd.)
5. Number of staff: About 240
6. Current branch: Shanghai Branch (address: same as that of the headquarters)

Establishment of Representative office in Cairo, Egypt

Fri, 25 Jun 2010 00:20:49 GMT

Tokio Marine Holdings, Inc. (“Tokio Marine”, President: Shuzo Sumi) will establish a representative office in Cairo, Egypt on 1st July 2010.

In January 2010 Tokio Marine, in partnership with Egypt Kuwait Holding Company, S.A.E. ("EKH", Chairman: Nasser Mohamed A. Al-Kharafi), launched Nile Family Takaful Company (a Shariah-compliant life insurance company) and Nile General Takaful Company (a Shariah-compliant non-life insurance company) based in Egypt.

The opening of the new representative office in Cairo will strengthen the market intelligence of Tokio Marine in the rapidly expanding Egyptian market as well as in the surrounding countries including Lebanon, Syria, Jordan and Libya. In addition, seconding a representative to the Nile Takaful companies will allow Tokio Marine to utilise its relationship with EKH and the Nile Takaful Companies to enhance services to clients based in Egypt.

<Cairo Representative Office>
C/O Nile Takaful Company
5th Floor, 51 Beirut Street, Heliopolis, Cairo, Arab Republic of Egypt
Postal Code 11341
Tel: +20-2-2413-0600 (EX 619)
Fax: +20-2-2417-9363

Notice of Convocation of the 8th Ordinary General Meeting of Shareholders

Mon, 07 Jun 2010 00:00:00 GMT

Uploaded presentation materials of "FY2010 Business Plan"

Fri, 04 Jun 2010 04:15:18 GMT

Agreement to establish a Joint Venture Company in Saudi Arabia

Thu, 01 Apr 2010 06:30:00 GMT

Tokio Marine Holdings, Inc. (hereinafter “Tokio Marine”, President: Shuzo Sumi) has reached an agreement with Alinma Bank, one of the largest banks in the Middle East region as the strategic partner to establish a joint venture composite insurance company in Saudi Arabia. Tokio Marine’s shareholding of the new company shall be made through its wholly owned subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd.

Tokio Marine has signed a memorandum of agreement to establish a joint venture composite insurance company with Alinma Bank, a newly established Saudi Public Sector initiative with strong capital base to support Saudi Arabia’s ambitious development programme, as the strategic partner. Alinma Bank is one of the largest banks in the Middle East region in terms of capital and is listed in the Saudi stock market. SABIC Industrial Investment Co., a wholly owned company of Saudi Basic Industries Corporation (SABIC) would also join as a main shareholder.

In order to cultivate the vast untapped retail market where many are not comfortable with conventional insurance products from religious point of view, Tokio Marine shall develop various customer-oriented “Takaful” products of high quality commensurate with its rated security and promote them in partnership with Alinma Bank which has set high standards of Sharia compliance in its banking products.
The new company will be the sole Japanese owned licensed insurance company in Saudi Arabia qualified with the recently introduced insurance regulations, and would enable Tokio Marine to directly meet demands of its Japanese corporate clients for insurance coverage relating to their mega projects such as oil refinery plants, petrochemical plants, etc.

Tokio Marine has been operating in Saudi Arabia for several decades to provide insurance services mainly to its Japanese corporate clients through its local agent. By the establishment of the new company, Tokio Marine will continue to deliver insurance services (safety and security) in Saudi Arabia through Sharia compliant solution by “Takaful” or Islamic insurance products. The commencement of operations of the new company is tentatively expected by the end of 2010, subject to necessary approvals by the related regulatory authorities of Japan and Saudi Arabia and IPO process in the Saud Stock Market (Tadawul).

Tokio Marine is a leader amongst global financial and insurance groups in “Takaful” business with its direct “Takaful” operations in major Islamic countries such as Saudi Arabia, Malaysia, Indonesia and Egypt. The group also has a rated re-“Takaful” company in Singapore and carries out strategic takaful R&D functions for the entire group through its “Takaful” centre of excellence based in Dubai, UAE

<Overview of the new joint venture company>

(@SR 3.75/US$)

1. Company Name	Tokio Marine Saudi Arabia Ltd. (planned)
2. Location	Jeddah, Kingdom of Saudi Arabia
3. Major Business	Takaful (both Family Takaful and General Takaful)
4. Business launch	Tentatively expected by the end of 2010
5. Capital	SR 200 million (equiv. to approx. USD 53.3 million)
6. Shareholders	Tokio Marine & Nichido 28.75% Alinma Bank 28.75% SABIC group and others 12.50% Initial Public Offering (IPO) 30.00% () () in line with the local insurance regulation, 30% of its shares shall be allocated to the public.