Tokio Marine Holdings’ international business has experienced a significant increase in profits for 2023, with a 99.8% rise to JPY 436.9 billion. The growth has been attributed to strong underwriting results, investment income, and the reversal of the impact of COVID-19 in Taiwan.
Tokio Marine Holdings’ international business recorded a 13.2% increase to JPY 2,910.0 billion in net premiums written (NPW) for FY23, up from JPY 2,570.4 billion the previous year. North America led the way with NPW of JPY 1,946.8 billion, while South & Central America achieved a growth of 34.4% to JPY 310.0 billion in NPW.
In terms of profitability, North America was the top-performing region with profits reaching JPY 359.9 billion, marking a 29.3% increase from the previous year. Asia & Oceania also showed improvement, bouncing back from a decrease in profits last year to achieve JPY 30.0 billion in profits for FY23
