Tokio Marine
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Combined ratios have improved as prices rise and investments return to profit.
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The carrier is partnering with Munich Re Syndicate and Tokio Marine HCC.
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The companies account for ~70% of GHG emissions in its portfolio.
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Vivek Syal will become CUO of Tokio Marine Kiln in April.
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ERS 218 reported a 3.4% return on its £48mn capacity.
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The firm has laid out five reforms to hold itself, and its subsidiaries, accountable.
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Irick moves into a group role, with current CUO Shaw stepping up.
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The carrier also benefited from strong underwriting and investment results.
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Scor’s Nicola Hannay has been appointed head of power generation.
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The marine market has had several new MGAs launch into the sector.
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The transition is expected to be completed shortly after Q1 2024.
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The resignations will see Russ and Davidson reunited with fellow Axa XL alumnus Mark Hutton, who joined Tokio Marine HCC as head of crisis management last year.
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The carrier has made numerous energy and power appointments in recent months.
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The global segment leader for power generation moves to Tokio Marine HCC soon after his colleague Nicola Hannay.
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Finance minister describes the activity as “widespread, repeated and continuous”.
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Robert O’Leary, managing executive officer at Tokio Marine Holdings, has resigned from the company.
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Tokio Marine HCC restructured its marine, energy and renewables division earlier this year.
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It is understood that Hutton has resigned from his previous role as global product head of product recall at Axa XL after six years with the carrier.
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The carrier’s overseas unit benefited from improved underwriting and the reversal of Taiwanese Covid-19 impacts.
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Carr has spent over 20 years in the market, holding several leadership positions at Tokio Marine HCC, Axis and others.
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Leahy joins the carrier after just over a year at TMK as divisional head of airline.
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Ellen White, underwriter on the product recall team, is due to succeed Michael Crabtree following his departure.
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Insurance Insider has compiled a bite-sized wrap-up of the exclusive news stories and CEO interviews from this year's Monte Carlo Rendez-Vous.
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Former Tokio Marine Kiln (TMK) reinsurance heads Will Curran and David Huckstepp are testing the water for an underwriting start-up, this publication can reveal.
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The carrier is one of a number of small firms with heavy concentration in Hawaii.
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The carrier reported increased premiums of 658.7bn yen for its non-life segment.
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Japan’s Financial Services Agency has ordered an investigation into the carriers’ practices.
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Carr also works as the chair of the Lloyd’s Market Association Joint Liability Committee.
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Sources said the Japanese insurer will pull back from the California personal auto market in June 2025 as it is set to exit the state’s admitted personal lines market on June 1, 2026.
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The firm has also appointed Moore and Bye as cyber underwriters in London and Singapore.
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Plus all the latest executive moves and the top news from the week.
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Tokio Marine has told cedants that it will discontinue its aviation retro book as the effects of the mammoth Boeing loss continue to ripple through the market, this publication can reveal.
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The division, which previously was a part of TMK’s specialty unit, will consist of cyber, technology and intellectual property specialisms.
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A string of insurers has abandoned the alliance after Munich Re announced its departure at the end of March.
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The international segment booked a 105bn yen Taiwanese Covid loss, offset by strong growth in North America.
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Ben Kinder, the recently appointed CUO of marine, energy and renewables, will lead the consolidated team.
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Larger wind turbines are driving up the cost of claims in the renewables sector.
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Lessor WWTAI is also pursuing the claim via clause AVN67B, naming the Russian insurers of the airlines in possession of its aircraft.
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The underwriting head joined RJ Kiln in 2001.
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Karen Crowley joins from Atradius and Arwel Roberts from Coface.
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Will Green will report to head of aviation David Slevin, as well as Lisa Leahy, head of airlines, and Graham Oddie, head of general aviation and aerospace.
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As Adidas terminated its partnership with Kanye West following his antisemitic tweets, it projected a loss that signalled why insurers should be pushing the need for brand reputation insurance.
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TMK already writes a book of specialist regional cargo business out of Singapore, and backs cargo MGA Loadsure.
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The carrier was impacted by Covid-19 in Taiwan and Japan, as well as natural catastrophes.
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Vanesa Herrero will step into the CEO role following the departure of Christian Kanu.
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The European and North American units booked profits for the period, while the Asia and Oceania segment registered a heavy loss.
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Intact financed the acquisition of the US builders risk portfolio through a $188mn term loan that was repaid before quarter-end, according to its Q3 statements.
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