Tokio Marine News

Tokio Marine Targets Asean for Expansion Abroad: Southeast Asia

Tokio Marine Holdings Inc., Japan’s second-largest non-life insurer, is seeking to expand in Southeast Asia as Japan’s shrinking population erodes its domestic market. The insurer plans to expand in life insurance, automobile coverage, reinsurance and asset management, President Tsuyoshi Nagano …

Ratings Recap: American General, Philadelphia Indemnity, First Hawaii, Minnesota Lawyers Mutual, Workmen’s Auto

A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘B+’ (Good) and issuer credit rating (ICR) of “bbb-” of American General Property Insurance Company (AGPIC), based in Nashville, Tenn., both with stable outlooks. Best concurrently withdrew the ratings …

Too Early to Know Cost of 787 Dreamliner Claims, Says Boeing’s Insurer

Boeing Co. has some insurance in case its aircraft are grounded, but it is far too soon to say whether the problems with the 787 Dreamliner will lead to significant claims, the head of the planemaker’s lead insurer said on …

Kiln Appoints Pudemat Property Underwriter in Frankfurt

Kiln, the international specialist insurance and reinsurance underwriting group, which is a part of Tokio Marine, announced that it has appointed Petra Pudemat as a new property underwriter in Frankfurt to write a broad range of property and facultative risks …

Safety National Receives Ratings Upgrades

Excess workers’ compensation carrier, Safety National Casualty Corp., announced that three major insurance rating agencies have increased the company’s ratings. While Safety National’s A.M. Best financial strength rating remains “A”, the agency has upgraded Safety National’s issuer credit rating from …

Tokio Marine Buyout of Insurer Delphi Allowed to Proceed

A Delaware court on Tuesday denied a request to block the $2.7 billion sale of insurer Delphi Financial Group to Tokio Marine Holdings Inc., brought by pension-fund investors who claim that Delphi’s CEO was unjustly enriched by the deal. The …

Tokio Marine to Buy Delphi Financial for $2.7 Billion

Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan’s second-largest property-casualty insurer aimed at growing outside its mature home market. Tokio Marine said it …

Best Upgrades First Hawaii Ratings to ‘A’ on Tokio Marine Takeover

A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of First of Hawaii Group and its members. Best also removed the ratings from under review …

Best Upgrades Philadelphia Insurance Co. and Members Ratings

A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to ‘aa+’ from ‘aa’ of Philadelphia Insurance Companies and its members, and has revised its outlook on the …

Best Affirms Lloyd’s Syndicate 510 and Kiln Group Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of ‘a+’ of Lloyd’s Syndicate 510, which is managed by R.J. Kiln & Co Ltd. Best also affirmed …