Tokio Marine Holdings' consolidated insurance premiums FY 2014-2023

The consolidated insurance premiums of Tokio Marine Holdings, Inc. amounted to approximately 5.87 trillion Japanese yen in the fiscal year 2023. This represented a year-on-year increase of six percent. 

One of Japan’s largest insurance companies

Tokio Marine was founded in 1879 as Japan’s first non-life insurance company. While mutual aid systems had existed in Japan since ancient times, proper insurance businesses were one of the many foreign ideas adopted by Japanese elites during the late 19th century in order to turn Japan into a fully modern state. Today, the holding company and its subsidiaries engage primarily in the domestic non-life, as well as the international insurance business but are also active in the domestic life insurance and financial business. Both the company’s total assets and the number of employees have increased considerably in recent years.

The Japanese P&C insurance market

The Japanese non-life insurance market is essentially dominated by the three largest non-life insurance groups: Tokio Marine Holdings, MS&AD Insurance Group Holdings, and Sompo Holdings. The total value of net premiums written by general insurance companies in Japan amounted to over nine trillion yen in the fiscal year 2022. A breakdown by class of business showed that voluntary automobile insurances constituted the largest share of the market during that year, followed by fire and miscellaneous casualty insurance.