Tokio Marine

The carrier reported increased premiums of 658.7bn yen for its non-life segment.

Japan’s Financial Services Agency has ordered an investigation into the carriers’ practices.

Carr also works as the chair of the Lloyd’s Market Association Joint Liability Committee.

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.

The firm has also appointed Moore and Bye as cyber underwriters in London and Singapore.

Plus all the latest executive moves and the top news from the week.

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.

The division, which previously was a part of TMK’s specialty unit, will consist of cyber, technology and intellectual property specialisms.

A string of insurers has abandoned the alliance after Munich Re announced its departure at the end of March.

The international segment booked a 105bn yen Taiwanese Covid loss, offset by strong growth in North America.

Ben Kinder, the recently appointed CUO of marine, energy and renewables, will lead the consolidated team.

Larger wind turbines are driving up the cost of claims in the renewables sector.