As companies across sectors intensify efforts to reduce carbon emissions, Tokio Marine Holdings has introduced Tokio Marine GX (TMGX) to provide tailored risk solutions that align with corporate sustainability goals and the global shift towards decarbonization.
TMGX will focus on supporting businesses undergoing energy transition, offering insurance and risk advisory services aimed at reducing volatility and enabling capital investment in sustainable initiatives.
The platform will serve organisations across industries—from renewable energy producers and power utilities to construction and industrial operations—as they work to meet decarbonisation targets.
"TMGX clients will benefit from deep claims experience, holistic support and extensive risk appetite in every facet of renewable energy and the green transition," said Brad Irick, the managing executive officer and co-head of Internation at Tokio Marine Holdings. "All of this is backed by the financial resources and capacity of one of the world’s largest insurers and an institutional commitment to accelerating societal progress. TMGX will ensure that Tokio Marine is at the forefront of the green transition.”
Built on the capabilities of GCube, known for its renewable energy underwriting, and Tokio Marine & Nichido Fire’s offshore marine expertise, TMGX integrates knowledge from across the Tokio Marine Group.
The new unit will have the capacity to underwrite up to $500 million per individual risk, positioning itself as a lead underwriter for green and transitional energy projects.
The platform, which takes its name from “Green Transformation,” reflects Japan’s national strategy and the insurer’s intent to develop coverage that facilitates the global energy transition.
TMGX will provide a range of products from credit and surety solutions to tailored policies covering renewable energy, nuclear, and hydrogen risks. Its services are designed to assist clients in obtaining financing and maintaining operational resilience during sustainability transitions.
According to estimates referenced by the company, the transition to a low-carbon economy may require $9.2 trillion in average annual investment in physical assets. Limited access to affordable and comprehensive insurance remains a key constraint. TMGX seeks to fill this gap by offering insurance capacity that helps de-risk projects and unlock investment flows.
Fraser McLachlan, current chief executive of GCube, has been appointed chairman of TMGX. Ben Kinder, chief underwriting officer for marine, energy & renewables at Tokio Marine HCC International (TMHCCI), will serve as TMGX’s CUO in addition to his existing responsibilities at TMHCCI.
"TMGX will harness the collective expertise and experience from across the Tokio Marine Group to stand shoulder-to-shoulder with clients at each stage of their decarbonization journey. Together, we will unlock new commercial opportunities, while creating a greener, more resilient world for tomorrow,” said McLachlan.
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