Tokio Marine overcomes natural disaster losses with profits

Tokio Marine Holdings Inc has seen a boost in its fiscal first-quarter profit, thanks to improved underwriting results and stronger investment income in its international segment. Net income attributable to owners of the parent group increased to ¥197.3 billion ($1.37 billion) for the quarter ending June 30, compared to ¥127.9 billion the previous year. Despite a decrease in total premiums to ¥1.

38 trillion from ¥1.43 trillion, Tokio Marine reported higher gains from the sale of business-related equities in its financials. However, the company also faced challenges, with natural catastrophe losses increasing to ¥68.1 billion due to events like hail damage in Hyogo, Japan, and a winter storm in North America. Despite these losses, Tokio Marine's international segment saw a rise in nonlife profit to ¥125.1 billion.

Across segments, Philadelphia Insurance Companies improved its combined ratio, while Delphi Financial Group's worsened slightly. Tokio Marine HCC's combined ratio improved due to strong underwriting and higher investment income. International net premiums written exceeded expectations, driven by rate increases and new business in North America.

Tokio Marine plans to continue its international insurance buying spree, despite challenges in the Japan P&C segment. Overall, the company remains optimistic about its future growth and performance.