Tokio Marine : Everything you need to know

About Tokio Marine 

Tokio Marine Group is a multinational insurance company with headquarters in Tokyo, Japan, and a focus on the property and casualty insurance market. The company got off the ground in 1879 as Japan’s first insurance company, and set up direct underwriting operations overseas, in London, Paris, and New York, the following year. Back at home, Tokio Marine Insurance launched Japan’s first automobile insurance in 1914, when there were just 1,000 vehicles on the roads in the country. Today, the company’s domestic auto insurance policies have grown to over 15 million.

About a third of Tokio Marine’s 41,000-plus employees are located in offices around the world, while 65% remain in Japan. Tokio Marine Group is in the domestic non-life and life insurance business, as well as the international insurance business. Some of its operations include Tokio Marine North America, Philadelphia Insurance Companies, Delphi Financial Group, and Nisshin Fire & Marine Insurance, along with many other companies that share the Tokio Marine name. Its products focus on personal lines, large commercial property, a variety of marine insurance solutions, as well as expertise in aviation, enterprise risk, accident and health, professional lines, surety, and others, depending on the region.

Tokio Marine in the news

1879: Founded in Tokyo, Japan

1944: Tokio Marine focuses on fire insurance following developments in the insurance industry post-war, and merges with Meiji Fire Insurance

2008: Tokio Marine increases its presence in emerging markets, and the US and European markets, with a series of M&A deals that included Kiln Ltd., Philadelphia Consolidated Holding Group, Delphi Financial Group, and HCC Insurance Holdings

2011: Tokio Marine responds to the aftermath of the Great East Japan Earthquake

2018: Tokio Marine becomes the first insurance carrier to license Metromile’s Connected Intelligence Platform

2019: Tokio Marine unveils new chair and chief executive

2019: Tokio Marine announces co-chief financial officers

2021: Tokio Marine addresses speculation regarding Greensill exposure

Key people

Satoru Komiya – President, group chief executive officer, and group chief culture officer

Komiya joined Tokio Marine in 1983 and climbed the ranks until he became a member of the board and managing director and executive officer of Nisshin Fire & Marine. He later took on the role of executive officer and general manager of the corporate planning Department of Tokio Marine Holdings, before holding several executive positions within the company, including as senior managing director. Komiya was appointed president and CEO of Tokio Marine Holdings in June 2019.

Kenji Okada – Managing executive officer, group chief legal and compliance officer, and group chief risk officer

Okada joined Tokio Marine in 1986, and in 2018, made a major step forward as he took on the role of executive officer and general manager of the internal audit department of Tokio Marine Holdings in April 2019. Okada was appointed to his current role in June 2019.

Culture

Tokio Marine has a strong focus on sustainability. In its mid-term business plan, the company stated that it was engaged in initiatives related to three core themes, “Providing Safety and Security,” “Protecting the Earth,” and “Supporting People.” Tokio Marine aims to contribute to creating a naturally disaster-resilient society, while utilising technological innovation to build a secure society, and responding effectively to changes in consumer lifestyles.

Tokio Marine places a lot of value in its employees, and the trust established between its people and insurance buyers. The group has made efforts to support a diverse range of people with initiatives that range from creating value through products and services, ensuring a healthy society by promoting health management, promoting awareness and education for children who are responsible for the future of the planet, and supporting the elderly, people with disabilities, as well as athletes.

Tokio Marine is also actively contributing to the United Nations Sustainable Development Goals by putting its insurance and risk management expertise to work to help resolve sustainability issues.