Tokio Marine Holdings has announced that Masahiro Koike will succeed Satoru Komiya as president and CEO of Tokio Marine Holdings and group CEO of Tokio Marine Group.
Koike’s appointment is expected to take effect following the company’s shareholders’ meeting in June, pending customary approvals.
Upon the transition, Komiya will assume the role of chairman of the board for Tokio Marine Holdings.
Koike (pictured) has been with Tokio Marine since 1994, building a career in underwriting, reinsurance, and corporate planning.
His current role is managing executive officer for the company’s international business. His prior positions include heading strategic initiatives within the corporate planning department, serving as general manager of corporate planning for Tokio Marine & Nichido Fire Insurance, and overseeing US operations as chief operating officer for Tokio Millennium Re AG.
Koike’s professional background also includes leadership in aerospace underwriting, ceded reinsurance management, and corporate strategy, with assignments in both Japan and the US.
The leadership transition follows the adjustment of the company’s 2024 net income forecast.
In November 2024, Tokio Marine Holdings raised its projected adjusted net income for the fiscal year by ¥40 billion (roughly US$258 million), citing strong international underwriting results and the accelerated sale of business-related equities.
The revised forecast now stands at ¥1.04 trillion (approximately US$6.71 billion).
For the first half of the fiscal year, the company reported an adjusted net income of ¥771.2 billion (US$4.98 billion), achieving 77% of its initial full-year forecast.
Tokio Marine attributed the performance to favorable underwriting outcomes, foreign exchange gains, and steady growth in international business operations. These gains were offset in part by provisions under Current Expected Credit Losses (CECL), primarily tied to commercial real estate loans.
The company reported a 5.7% year-over-year increase in net premiums written during the first half, excluding foreign exchange impacts. This growth was attributed to rate adjustments in both Japanese and international markets. However, life insurance premiums fell 32.9%, mainly due to block reinsurance transactions within Japan Life.
For the full year, Tokio Marine anticipates net premiums written to increase by 5.3% year-over-year, driven by tighter underwriting standards within Japan’s property and casualty business. Meanwhile, life insurance premiums are expected to decline 15.9% year-over-year when excluding foreign exchange effects.
The company’s upward revision reflects its focus on underwriting discipline, equity management, and international growth as it navigates evolving market conditions.