Tokio Marine Holdings completes sale of TMPI

Calvo Enterprises was the purchasing entity.

Tokio Marine Holdings announced that it has completed the sale of its Guam-based subsidiary, Tokio Marine Pacific Insurance to Calvo Enterprises.

To recall, last year August, Tokio Marine said the Guam insurer saw $176m in written premiums in 2022 and has been continuously growing its business. 

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However, to validate capital efficiency improvement and risk diversification efforts, TMPI was put up for sale.

Previously, it also indicated that its affiliated hospital service provided by Tokio Marine & Nichido Fire Insurance will not be affected by this move.