Hints and tips:
...Shilpa Strong, chief innovation officer at the insurer’s Houston-based operation Tokio Marine HCC, will take up the chief executive role at Tokio Marine Management Australasia early next month, replacing...
...It works with dozens of insurers worldwide including the UK’s Aviva, Geico in the US and Japan’s Tokio Marine....
...In an emailed statement to the Financial Times, the Japanese group said that “prudent risk management, strong corporate governance and internal controls have been the foundation of Tokio Marine’s enduring...
...People with direct knowledge of Tokio Marine’s situation said the Greensill issue was dominating the attention of top management....
...Tokio Marine has said publicly only that the insurance “covers the accounts receivable of the insured”....
...But Kirin’s abrupt pullout from Myanmar and Tokio Marine’s embroilment in the Greensill debacle through its Australian subsidiary are just the most recent examples of Japanese companies where global expansion...
...The main original insurance policy was written by The Bond & Credit Company, an Australian insurer that was acquired in 2019 by Tokio Marine....
...Matt Zames is stepping down as president of private equity group Cerberus Capital Management after three years in the role....
...Japanese insurer Tokio Marine has said the insurance policies at the heart of the Greensill Capital collapse may not have been valid, as investors pressed the company to detail its exposure to the lender...
...Tokio Marine Kiln, part of the Tokio Marine group and one of the largest insurers at Lloyd’s of London, said any breach of its rules would “be taken extremely seriously”....
...Marine Holdings Inc.)....
...The large Japanese insurers such as Sompo, Tokio Marine and Mitsui Sumitomo, active buyers in the past, may look to bulk up and diversify away from their home market....
...Last year Mitsui Sumitomo bought UK-listed Amlin (a target that Sompo also coveted) for $5.3bn, while Tokio Marine paid $7.5bn for HCC in the US....
...Unions at leading insurers such as Tokio Marine and Sompo Japan, which have also been hit because negative rates make it harder to generate a return on their bond portfolios, have also decided not to request...
...In June, Tokio Marine paid $7.5bn for the speciality insurer HCC Insurance; in February Daiichi Life Insurance bought Protective Life for $5.6bn....
...The logic of growth by purchases overseas has also proved convincing for Japanese insurers: last week, Tokio Marine said it had agreed to buy HCC Insurance of the US for $7.5bn....
...A deal was announced each month between June and September by the sector’s biggest players: the largest was the $7.5bn acquisition of HCC by Tokio Marine....
...Active fixed income managers could also lose out, including ManuLife, Pimco, Prudential Investment Management, Tokio Marine and Diam....
...Six years ago Tokio Marine agreed to spend £442m on Kiln, one of the largest agencies. Tower Group of the US owns about 10 per cent of Canopius and management the remainder....
...Falko Fecht, a professor at the Frankfurt School of Finance and Management, says: “Fitschen must regret having made the telephone call . . ....
...Scor, the French reinsurer, and Tokio Marine, the Japanese insurer and reinsurer, also took stakes....
...have hit Tokio Marine’s auto insurance business in particular....
...There are nearly 70 general insurers operating in the country, including Allianz, Chartis, Axa and Japan’s top three non-life insurers – Tokio Marine, MS&AD and NKSJ Holdings – either independently or in...
...The acquisition could help Tokio Marine increase the share of its non-Japan earnings from 37 per cent to 46 per cent....
...Bankers and industry executives linked to the market have long expected a Chinese investment at Lloyd’s with some talking up the chances of a large Chinese group buying a business there, much as Tokio Marine...
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