Tokio Marine Holdings (8766) Investor presentation summary

Purpose-driven evolution and strategic growth

• Evolved from a domestic leader to a global insurance group, focusing on customer and societal needs, with a clear purpose guiding value creation and expansion into new business domains and geographies.

• Federated management model empowers group companies, driving above-peer profit growth and strong group synergies, with annual synergy profits of USD 461mn.

• Strategic M&A and disciplined capital allocation have delivered a 27.3% ROI on large-scale acquisitions, with recent bolt-on deals in specialty lines.

• Strong employee engagement and recognition as a top workplace support sustainable value creation.

Competitive advantage and business performance

• Achieved superior profit growth in Japan P&C, North America, and Brazil, consistently outperforming market peers through disciplined underwriting and diversified portfolios.

• Maintained high customer loyalty and NPS, translating into robust underwriting profit growth in both Japan and the U.S.

• North America business excels in underwriting through market cycles, leveraging specialty lines and data-driven rate management.

• Japan market remains stable and profitable, with top three companies holding 90% share and specialty insurance offering growth potential.

• AI adoption and digital transformation drive operational efficiency, risk analysis, and customer experience improvements across global operations.

Financial performance and shareholder returns

• Delivered top-tier EPS and DPS growth (10-year CAGR: EPS 12.0%, DPS 19.4%), with ROE improvement to 12.9% (IFRS basis) and strong total shareholder return.

• Capital policy targets a 50% payout ratio, with FY2026 DPS at JPY245 (+12.4% YoY), and share buybacks of JPY400bn planned, maintaining a robust ESR of 268%.

• Ongoing reduction of business-related equities, reallocating capital to higher ROR core businesses, aiming for zero by FY2029.

• Strategic partnership with Berkshire Hathaway includes equity investment, reinsurance collaboration, and joint M&A, enhancing growth and risk diversification.