Tokio Marine targets $11b profit by 2035

The insurer wants to move from ninth place into the top 5 global insurance groups.

Tokio Marine Holdings plans to transition from a traditional insurer into a broader solutions partner over the next decade.

In a statement, the company launched a new ten-year strategic vision, titled "Aspiration 2035," mapping out the insurance group's long-term plan to double its net income and expand its global market presence.

The plan, announced by President and Group CEO Masahiro Koike, outlines the company's financial targets, which aims to more than double its adjusted net income to over $10.7b (JPY1.7t) by 2035, up from its 2025 baseline of $5.6b (JPY881.5b).

Under the new strategy, Tokio Marine expects its solutions business to grow to approximately $630m (JPY100b), compared to the $63m (JPY10b) projected for 2025.

The company also aims to elevate its global ranking into the top five global insurance groups on a net income basis, moving up from its current ninth-place position.

As part of the 2025 to 2036 rollout, Tokio Marine will launch a strategic partnership with the Berkshire Hathaway Group.

The insurer stated it will also scale up its disaster prevention and mitigation business, using advanced technology to manage underwriting, investments, and risk solutions.

($1.00 = JPY159.63)