Tokio Marine Holdings　Topics

New Takaful Companies to Commence Operations in Egypt

Fri, 29 Jan 2010 06:30:00 GMT

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>

1. Company Name	: Nile Family Takaful Company (NFT) Nile General Takaful Company (NGT)
2. Address	: 6, Ibn Arhab Street, Flat 14, Al Giza, Egypt
3. Tel No.	: +20 (0)2 3573 5510 (for both NFT & NGT)
4. Fax No.	: +20 (0)2 3573 5511 (for both NFT & NGT)
5. Capital	: EGP 30 million (equiv. to approx. USD 5.5 million, for each company)
6. Shareholders	: EKH 60%, Tokio Marine & Nichido 40%

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.

Uploaded presentation materials of "FY09 2H IR Conference"

Tue, 01 Dec 2009 09:39:43 GMT

Establishment of a Life Insurance Joint Venture in India

Fri, 20 Nov 2009 05:00:00 GMT

Tokio Marine Holdings, Inc. (the "Company", President: Shuzo Sumi) reached an agreement with the India-based financial services company “Edelweiss Capital Limited” (“ECL”) to establish a life insurance joint venture in India, named “Edelweiss Tokio Life Insurance Limited”. Through the establishment of the joint venture, the Company will be the only Japanese insurance group operating both property and casualty and life insurance businesses in India. The Company and ECL will cooperate to jointly approach the insurance authority in India (IRDA: Insurance Regulatory & Development Authority) to obtain a life insurance business license, targeting to start operations by January 2011.

In order to become a global top-tier insurance group, the Company has been seeking to increase the size and profitability of its international insurance business as a driving force of its mid-to-long-term growth strategy. In 2008, based on this strategy, the Company acquired Kiln Ltd., a major player in Lloyd's of London, and Philadelphia Consolidated Holding Corp., a leading mid-sized insurance group in the United States, whereby the Company established a strong presence in the U.S. and U.K. insurance markets and achieved significant expansion of the global portfolio of its international insurance business. Additionally, in emerging markets such as Asia and Brazil where the Company sees high mid-to-long term growth potential, the Company has actively pursued organic growth as well as M&A opportunities for its property and casualty and life insurance businesses.

India’s economy has been growing rapidly in recent years. The Indian insurance market is also expected to achieve long-term sustainable growth owing to an increasing workforce population and sustainable GDP growth. The Company had been interested in India’s promising insurance market since its opening to foreign insurers, and in 2000 became the first Japanese primary insurer to enter the market by establishing “IFFCO-TOKIO General Insurance Co., Ltd (ITGI)”, a joint venture property and casualty insurance company with IFFCO (Indian Farmers’ Fertilizer Cooperatives). Since then, seeking further opportunity for growth in emerging markets, the Company has been studying the feasibility of entering the life insurance business in India and has now reached an agreement with ECL to jointly operate the life insurance business in India.

The new company will contribute to the enhancement of size and profitability of Tokio Marine Group’s international insurance business as well as the sound growth of the Indian life insurance sector by providing high quality products and services that meet customer needs. Tokio Marine intends to support the operation of the new company with its strong insurance expertise, and ECL expects to contribute through its strong brand recognition and broad client base.

１．Overview of the Indian Life Insurance Sector

Market size	Approx. JPY 4 trillion (as of Mar 2008, industry total premium）
Compound annual growth rate	Approx. 26%（From April 2001 to March 2008, industry total premiums）
Number of life insurers （licensed）	23 companies（“Edelweiss Tokio Life Insurance Limited” not included）
Characteristics	Saving or investment type policies are the main products, commonly sold through an agency network

（1 Indian rupee= 2 Japanese yen, convenience only）

２．Overview of Life Insurance Joint Venture Company

Company name（planned）	Edelweiss Tokio Life Insurance Limited
Head office	Mumbai, Maharashtra State, India
Capital（initial）	5.5 Billion Rupees（Approx. 11 Billion Yen）
Shareholding ratio	Tokio Marine 26% (Indian regulatory limit for foreign insurers) ECL 74%
Start operation (planned)	January 2011
Business Strategy	Mainly offer saving or investment type products through an agency network in its initial period. Products and distribution channels will gradually be diversified in upcoming years.

３. Overview of Edelweiss Capital Limited

Established in 1995 as an investment bank. Since 2000, it has diversified its business in the wholesale financial services market and it has entered the retail business market in recent years.

Company name	Edelweiss Capital Limited
Scope of business	Investment banking (capital raising, M&A advisory), brokerage services (institutional equities, equity research), loans, asset management, etc.
Incorporation	1995
Head office	Mumbai, Maharashtra State, India
Representative	Chairman & CEO Rashesh Shah
Net assets	25.0 Billion Rupees（Approx. 50.0 Billion Yen）
Total income	9.0 Billion Rupees （Approx. 18.0 Billion Yen）
Net profit	1.8 Billion Rupees（Approx. 3.6 Billion Yen）
Number of employees	Approx. 1,300
Major shareholders	Sponsors（38%), Other employees (14%), Institutional shareholders (41%) of which Govt. of Singapore Investment Corp (8.3%), Other shareholders (7%)

（as of March 2009）

Status of investments in securitized products as of September 30, 2009

Thu, 19 Nov 2009 06:30:03 GMT

Notice regarding the resolution of the board of directors on interim dividend

Thu, 19 Nov 2009 06:30:01 GMT

On November 19, 2009, the board of directors of Tokio Marine Holdings, Inc. (the "Company") resolved to pay interim dividend of the Company's 8th fiscal year (April 1, 2009 to March 31, 2010) as described below.

(Details of the resolution)
Pursuant to the provisions of the Company's Article of Incorporation, the Company will pay interim dividend to its shareholders or the registered pledgees on shares appearing on the register of shareholders, including those recorded by electronic means, as of the close of business on September 30, 2009 as follows.

1. The amount of interim dividend
24 yen per share.

2. Effective date and starting date of payment
Tuesday, December 8, 2009.

Estimate of incurred losses caused by Typhoon No. 18 (update)

Tue, 20 Oct 2009 06:44:03 GMT

We sincerely would like to extend our warmest sympathies to those who have suffered damage from Typhoon No. 18.

Following our announcement on October 15, 2009, we update the estimates of the incurred losses caused by Typhoon No. 18 that Tokio Marine & Nichido Fire Insurance Co., Ltd., a subsidiary of Tokio Marine Holdings, Inc., has compiled as of October 19, 2009:

The updated estimates below are based on information available to us as of October 19, 2009.
These amounts will be subject to adjustment and may materially change based on the results of claims investigations and other factors.

Estimated incurred losses on a direct basis
(billions of yen)

Typhoon No. 18	Fire, etc.	Automobile	Marine and transport	Total
Typhoon No. 18	3.96	2.46	5.93	12.36

* As the figures in each column are truncated to two decimal places, the sum of these figures is different from that indicated in "Total".

Notes
- The information included in the above table does not take into account reinsurance
purchased by Tokio Marine & Nichido relating to these potential loss events.
- The amounts indicated do not take into account the amounts of claims paid and
outstanding claims reserves recoverable by Tokio Marine & Nichido from its
reinsurers.
- The information included in the above table presents the sum total of estimated
incurred losses of the policies wholly underwritten by Tokio Marine & Nichido and the policies led by Tokio Marine & Nichido as a representative of other insurers who share in the policy. Therefore, this does not include the amount of estimated incurred losses payable by Tokio Marine & Nichido in the policies led by other insurers.

Estimate of incurred losses caused by Typhoon No. 18 (preliminary report)

Thu, 15 Oct 2009 06:55:16 GMT

We sincerely would like to extend our warmest sympathies to those who have suffered damage from Typhoon No. 18.

The following are estimates of the incurred losses caused by Typhoon No. 18 that Tokio Marine & Nichido Fire Insurance Co., Ltd. a subsidiary of Tokio Marine Holdings, Inc., has compiled as of October 13, 2009:

The preliminary estimates below are based on information available to us as of October 13, 2009.
These amounts will be subject to adjustment and may materially change based on the results of claims investigations and other factors.

Estimated incurred losses on a direct basis
(billions of yen)

Typhoon No. 18	Fire, etc.	Automobile	Marine and transport	Total
Typhoon No. 18	2.59	0.58	5.33	8.51

* As the figures in each column are truncated to two decimal places, the sum of these figures is different from that indicated in "Total".

Notes
- The information included in the above table does not take into account reinsurance purchased by Tokio Marine & Nichido relating to these potential loss events.
- The amounts indicated do not take into account the amounts of claims paid and outstanding claims reserves recoverable by Tokio Marine & Nichido from its reinsurers.

The information included in the above table presents the sum total of estimated incurred losses of the policies wholly underwritten by Tokio Marine & Nichido and the policies led by Tokio Marine & Nichido as a representative of other insurers who share in the policy. Therefore, this does not include the amount of estimated incurred losses payable by Tokio Marine & Nichido in the policies led by other insurers.

Uploaded "Annual Report 2009"

Fri, 09 Oct 2009 08:50:07 GMT

Uploaded the presentation materials of "FY2009 1Q Results Conference Call"

Tue, 18 Aug 2009 00:49:58 GMT

Correction of Information Included in the Attachment to the "Notice of Convocation of the 7th Ordinary General Meeting of Shareholders"

Mon, 22 Jun 2009 06:00:00 GMT

Tokio Marine Holdings Topics