Tokio Marine Holdings News

UN Climate Alliance Scraps Emissions Rules for Insurers After Exodus

The Net-Zero Insurance Alliance (NZIA) has ditched all requirements for members to set or publish greenhouse gas emission-reduction targets, the U.N. said on Wednesday, a major rewrite of its rules after U.S. political pressure led to a member exodus. The …

Insurers Look to Loosen UN Climate Alliance Rules After Member Exodus: Sources

The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people familiar with the discussions. The U.N.-convened Net-Zero Insurance Alliance …

ANALYSIS – Breakup of Insurers’ Climate Coalition Driven by U.S. Regulation Fears

The success of Republicans in triggering the breakup of a coalition of insurance firms aimed at tackling climate change is down to U.S. states being the industry’s primary regulator, interviews with industry executives and former officials show. The U.N.-backed Net-Zero …

Update: List of Insurers Exiting Climate Group Grows, Including Lloyd’s, Tokio Marine

The list of firms walking out of the Net Zero Insurance Alliance continued to grow this week, adding to an exodus as the industry struggles to navigate anti-ESG attacks led by the Republican Party. The latest round of defections includes …

Tokio Marine Weighs Sale of Southeast Asia Life Unit Valued at $1 Billion

Tokio Marine Holdings Inc. is considering a sale of its life insurance business in Southeast Asia that could be valued at about $1 billion in a deal, according to people familiar with the matter, as the Japanese insurer looks to …

How Will Japan Secure Shipping Insurance for Imports of Russian LNG?

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 LNG Buyers Assess How Insurance Halt Will Affect Supplies

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 …

Malaysian Central Bank Sets 2023 Cutoff for Foreign Insurer Stake Sales: Sources

Malaysia’s central bank is giving foreign insurers until the end of 2023 to either reduce stakes in their local ventures or contribute to a charitable fund, people with knowledge of the matter said, more than a decade after the requirement …

Japanese Insurer Tokio Marine Says Greensill Obtained Policies Fraudulently

Companies linked to insolvent British financier Lex Greensill obtained insurance fraudulently, insurer Tokio Marine said on Monday, adding it did not plan to pay out on the policies and would “vigorously defend” itself against any legal claims. Greensill’s supply chain …

Tokio Marine Invests in Satellite Imaging Specialist ICEYE, Enters NatCat Collaboration

ICEYE, the Helsinki-based synthetic aperture radar (SAR) data provider and specialist in natural catastrophe solutions, announced that Tokio Marine Holdings has made a strategic investment in the company as it looks to develop new insurance products and services that utilize …