Tokio Marine

Tokio Marine Holdings, Inc.
株式会社東京海上ホールディングス
Public KK
Traded as TYO: 8766
OTC Pink: TKOMF
OTC Pink: TKOMY
Industry Insurance
Founded 1879 (1879)
Headquarters Marunouchi, Tokyo, Japan
Area served
 Worldwide
Key people
 Kunio Ishihara (Chairman)
Shuzo Sumi (President)
Revenue Increase JP¥ 3,710,066 million (FY 2007)
Increase JP¥ 108,766 million (FY 2007)
Number of employees
 24,959 (2008)
Website tokiomarinehd.com

Tokio Marine Holdings, Inc. (株式会社東京海上ホールディングス Kabushiki-kaisha Tōkyō Kaijō Hōrudingusu, TYO: 8766, OTC Pink: TKOMY), formerly known as Millea Holdings until 2008,[1] is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue, employing 29,000 people in 38 countries worldwide.

History

Originally founded in 1879 as Tokio Marine Insurance, it is the oldest insurance company in Japan. Millea Holdings was established in 2002 to become the parent company to Tokio Marine Insurance and Nichido Fire Insurance in preparation for their merger.

Tokio Marine acquired the Philadelphia Insurance Companies for $4.7 billion in 2008, and acquired the Delphi Financial Group for $2.66 billion in 2012.[2] In June 2015, Tokio Marine announced it would be acquiring HCC Insurance Holdings for $7.5 billion.[3] Tokio Marine forecast that 46% of its profits would come from outside Japan following the HCC acquisition.[2]

The company in August 2016 announced an expansion in the United States. The leasing of "nearly 68,000 square feet of office space, split between Jersey City and midtown Manhattan, in a transaction brokered by Jones Lang LaSalle. The global insurance firm signed for 46,360 square feet at 499 Washington Boulevard in Jersey City, NJ, with The LeFrak Organization and inked a lease for 21,499 square feet at 1221 Avenue of the Americas in midtown Manhattan with building owner The Rockefeller Group."[4]

Holdings

Domestic Non-Life Insurance Business

Domestic Life Insurance Business

International Insurance Business

Other Non-Insurance Businesses

References

  1. ↑ Name change from "Millea Holdings, Inc." to "Tokio Marine Holdings, Inc."
  2. 1 2 Fukase, Atsuko (10 June 2015). "Tokio Marine to Buy HCC Insurance for $7.5 Billion". The Wall Street Journal. Retrieved 11 June 2015.
  3. ↑ Taiga Uranaka (10 June 2015). "Tokio Marine to buy HCC Insurance for $7.5 billion". Reuters. Retrieved 10 June 2015.
  4. ↑ Lubetkin, Steve. "Tokio Marine Leasing Office Space In Jersey City And Midtown Manhattan". globest.com.

External links

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