Tokio Marine
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The carrier lost 36bn yen in BI and event cancellation lines and the investment book took a 33.1bn yen hit.
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Existing capacity relationships include those with Aviva and Tokio Marine HCC.
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The Tokio Marine HCC MGA takes Zoe Massie from AGCS and confirms the hire of Talbot’s Joshua Cantwell.
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The appointments follow the arrival of former Axis head of global international property Stuart Heath to lead delegated property.
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The move signals a potential source of new London capacity in the hardening cargo market. -
The Tokio Marine group expects a 100bn yen ($947mn) negative impact on profits overall for the full year.
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The insurer says it’s not appropriate to claim government financial assistance on what is an “established and core product”.
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The insurer wrote an excess casualty policy for the ride-share company in 2014.
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The weaker international result was driven by deteriorating loss ratios and reserve strengthening in North America.
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Backers include Tokio Marine and Direct Line Group.
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He noted that D&O, E&S and event cancellation are areas that could be particularly impacted.
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Pure’s balance sheet was characterised as very strong, its operating performance neutral and its business profile neutral.
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