Tokio Marine
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The carrier reported a full-year Covid-19 underwriting impact of 60bn yen for the international business. -
A new framework devised by the carrier shows hidden cyber exposures across contingency, property BI, A&H and property covers.
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The Lloyd’s broker plans to establish additional regional offices.
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The Japanese carrier seeks to allay fears of higher-than-indicated losses arising from the collapse of the supply chain financier.
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The announcement came after Australian Securities and Investments Commission said it had been investigating insurers’ exposure.
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An “internal lapse” reportedly means cover from key reinsurers won’t kick in.
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The former Corporation chief technology officer will report to Thibaud Hervy.
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QBE is said to be a fourth potential bidder.
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The Japanese insurer said that its remaining exposure to the business is mostly covered by reinsurance.
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Earnings at the international non-life business also halve as EMEA operations swing to a 12.5bn yen loss.
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The local Organising Committee expects to receive around 50bn yen ($481mn) for the initial delay.
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The insurer aims for several hundred million Canadian dollars of mainly specialty premium within five years.
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