Japan ordered four major non-life insurance companies to improve business practices in connection with anti-competitive activity that aimed to keep premiums high, Finance Minister Shunichi Suzuki said on Tuesday. The order was issued to Aioi Nissay Dowa Insurance, Sompo Japan …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
Japan’s buyers of Russian liquefied natural gas are assessing how imminent changes to shipping insurance — triggered by the ongoing war in Ukraine — will affect supplies from the key Sakhalin-2 project in Russia’s Far East. Three Japanese insurance companies …
TOKYO – As the world tries to price the cost of climate change, Japan’s second largest non-life insurer MS&AD foresees the potential rise in claim payments in 2050 to be anywhere between 5% to 50% from current levels. Sompo Holdings, …
Emerging technologies such as artificial intelligence, the internet of things (IoT) and blockchain were prominently featured among the winners of the second annual Efma-Accenture Innovation in Insurance awards. Aimed at showcasing the best examples of insurance technology innovations in multiple …
Tokio Marine & Nichido Fire Insurance Co. has begun offering a type of insurance intended to ease the concern of hot springs operators about the impact of new geothermal power stations. Developers of geothermal power projects can now buy an …
Japan’s insurance companies are pushing for an average 19 percent increase in earthquake premiums as they reassess risk following the unprecedented magnitude 9 quake four years ago. The increase could come into effect in January 2017, according to the Ministry …
Tokio Millennium Re AG (TMR), the Zurich-based global reinsurer and subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd., announced that Mark Julian will assume the role of head of Tokio Millennium Re AG, UK Branch (TMRUK), subject to …
Stephan Ruoff has been appointed chief executive officer of Tokio Millennium Re AG (TMR), a Zurich-based subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd. Ruoff has worked with TMR, a global multi-line reinsurer fully backed by the Tokio …
Tokio Marine Europe and Kiln, both of which are part of the Tokio Marine Group, announced their intention yesterday to join forces to form a new combined operation as of the first of January 2014, subject to regulatory approval. The …
