Tokio Marine Holdings’ net income bags $3b Q1 2025

Net premiums written grew 4% year-on-year.

Tokio Marine Holdings’ first quarter (Q1 2025) ending 30 June net income surged 126.6% year-on-year (YoY) to $3.01b (¥442.5b).

Similarly, its adjusted net income—excluding capital gains from business-related equity sales—reaching 33% of the full-year projection, driven by a stronger yen and solid international performance.

When including capital gains, the progress rate rose to 45%, supported by around $2.62b (¥385b) in equity sales that generated after-tax gains of $1.81b (¥265.6b), achieving 64% of the full-year sales target.

In Japan, earnings from auto and fire insurance are improving steadily following product and rate revisions, with a further boost expected from an 8.5% auto rate hike set for October 2025.

International operations also exceeded expectations, contributing roughly $190.4m (¥28b) above local targets in the first half of the calendar year.

Net premiums written grew 4% year-on-year (5% excluding foreign exchange impact), whilst life insurance premiums rose 5% (7% excluding FX), in line with full-year expectations.

Despite the strong quarterly performance, the company has not revised its full-year guidance due to potential foreign exchange offsets and the upcoming natural catastrophe season.

($1.00 = ¥147.28)