Tokio Marine Holdings (8766) investor relations material

Underwriting strategy and capabilities

• Expertise in risk assessment, pricing, and product development drives disciplined and agile underwriting, supported by global knowledge sharing and optimized reinsurance strategies.

• Integrated management pools underwriting expertise across entities, leveraging global committees and centers of excellence for cyber, casualty, and auto risks.

• Cyber risk underwriting benefits from global data gathering, annual summits, and diversified portfolios by size, industry, and geography, with Asia representing a larger share than the market average.

Profit growth through disciplined underwriting

• Fire insurance profitability improved through granular pricing, risk-based underwriting, and inflation-adjusted insured amounts, with proprietary risk models and PDCA cycles enhancing results.

• Sales and underwriting teams collaborate to optimize coverage, implement rate increases, and reduce excessive capacity, achieving profitability while retaining policies.

• Expansion into growth areas like data centers and semiconductors leverages group strengths and integrated insurance-solution proposals.

• North American liability portfolio focuses on excess layers for large Japanese corporations, with profit improvement measures reducing large loss exposure by 70%.

• Long-tail liability claims mean benefits from recent measures will materialize gradually as older policies settle.

Deploying underwriting capabilities in growth markets

• Specialty insurance penetration remains low, offering significant growth potential, especially in cyber, SME, and GX sectors.

• Cyber insurance integrates pre- and post-incident solutions, with rapid top-line growth and over 3,700 cases handled as of July 2026.

• Global collaboration enhances event cancellation, credit, and M&A insurance, leveraging group company networks and expertise for market-leading growth.

• GX insurance market expands with global investment, supported by rebranding and integration of acquired expertise.