Mitsui Sumitomo Insurance Company and Aioi Nissay Dowa Insurance Co, as members of the MS&AD Insurance Group, have jointly issued the "Tomoni Re 2024" catastrophe bonds (CAT bonds) in Singapore covering domestic natural disaster risks in Japan.
Insurance industry organisation, CRESTA, which provides a global standard for risk accumulation zones and natural catastrophe industry losses, has added the Japanese Noto Peninsula Earthquake in early 2024 to its CRESTA Industry Loss Index (CLIX).
Sompo has appointed Mr Kenneth Reilly as CEO, insurance, subject to regulatory and immigration approvals. In his new role, he will be responsible for all of Sompo's insurance business across APAC.
Malakut has appointed Mr Sogo Yasuda as chief commercial officer of its newly established globally integrated Japanese insurance brokerage department. In his new role, he will be responsible for building up Malakut's global Japanese capabilities together with network partners across the globe.
Japan's recent adjustment of monetary policy is likely to have a moderately positive impact on economic capital and earnings for the country's life insurers in the next one to two years, says Fitch Ratings. The direction and scale of changes in Japanese bond yields will be key to the longer-term impact on their credit profiles.
Tokio Marine Holdings (TMH) has established an Investor Relations and Shareholder Relations (IR/SR) desk in New York City as part of the IR/SR Group of the company's Global Communications Department.
Tokio Marine Holdings, through its subsidiary Tokio Marine & Nichido Fire Insurance (TMNF), has sponsored the issuance of a new catastrophe bond called "Kizuna Re III Series 2024-1 Class A Principal At-Risk Notes (Kizuna Re III CAT bonds).
The domestic underwriting profit of Nippon Life Insurance Company started to recover from mid-2023, after the government eased COVID-19 restrictions in May 2023, said Fitch Ratings.
The number of serious traffic accidents in Japan caused by distracted drivers, such as those using smartphones while driving, rose to a new record high in 2023.
Tokio Marine Holdings has spelt out several major measures to strengthen control over its non-life subsidiaries.