Tokio Marine & Nichido Fire Insurance to maintain growth overseas

Net premiums written rose to ¥5.1t in 2024.

Tokio Marine & Nichido Fire Insurance (TMNF) is expected to sustain growth as overseas operations expand and proceeds from its equity disposal programme strengthen financial flexibility, according to AM Best.

Net premiums written rose to $34.7b (¥5.1t) in fiscal 2024 from $23.1b (¥3.4t) five years earlier, with overseas business now contributing about half.

Ordinary profit surged to $7.9b (¥1,161b), driven by realised gains from equity disposals, which are scheduled to continue through 2029 to reduce market risk and support new investments.

Domestic underwriting improved on stronger fire insurance results and foreign exchange gains. TMNF also retains more than 25% share of Japan’s non-life market, underpinned by a diversified global portfolio.

($1.00 = ¥147.44)