Tokio Marine Holdings Inc has confirmed its leadership changes for 2025 as part of its broader strategic initiatives.
The board of directors approved the appointments based on recommendations from the Tokio Marine Group nomination committee, an advisory body to the board.
The changes come at a time when the company is reporting strong financial results for the nine-month period ending Dec. 31, 2024.
Among the key executive moves, Kenji Okada and Kichiichiro Yamamoto will take on new roles as vice president directors, moving up from their current positions as senior managing directors.
Yoichi Moriwaki and Kiyoshi Wada will be elevated to senior managing directors, with Moriwaki set to lead the Solution Business division and Wada overseeing Japan-based business operations.
Other executive promotions include Hiroshi Sakiyama, who will become a senior managing executive officer, while Nobuhiro Tsutsumi, Mika Nabeshima, and Kiichiro Hatakeyama will take on managing executive officer positions. Hatakeyama will retain his role as managing executive officer at Tokio Marine & Nichido Fire Insurance Co Ltd.
In addition, Shusaku Takashima, John W Glomb Jr, Taizo Ishiguro, and Hiroaki Shirota will be promoted to managing executive officers. Glomb will also continue in his roles as CEO of Tokio Marine North America, CEO of Tokio Marine North America Services, and president and CEO of Philadelphia Insurance Co.
Stephan Kiratsous has been appointed as deputy CFO while maintaining his current position as executive vice president and chief operating officer at Delphi Financial Group Inc.
Tokio Marine also announced the resignation of several executives. Managing executive officers Makoto Yoda and Tomoya Kittaka will step down, while Takashi Okamura will leave his role as executive officer but remain president of Tokio Marine & Nichido Medical Service Co Ltd.
Additional leadership changes will take effect after the company’s annual shareholders meeting in late June 2025.
The executive restructuring follows Tokio Marine’s latest financial results, which indicate significant profit growth.
The company reported an ordinary profit of ¥1.2 trillion for the nine-month period ending Dec. 31, 2024, marking a ¥629.3 billion increase compared to the previous year. Net income attributable to owners of the parent rose by ¥377.7 billion to ¥895.2 billion.
Despite a decrease of ¥75.5 billion in total consolidated assets, bringing the total to ¥30,519.3 billion as of Dec. 31, 2024, the company’s ordinary income grew to ¥6,249.6 billion. Underwriting income contributed ¥4,540.0 billion, while investment income added ¥1,580.9 billion.
In November, Tokio Marine raised its full-year profit forecast by ¥40 billion, citing strong international underwriting performance and increased sales of business-related equities.
