ASIA: TOKIO MARINE SETS UP A NEW REIN­SUR­ANCE SUB­SIDIARY IN LABUAN

Source: Asia In­surance Re­view, 16 Oc­to­ber 2012

Insurance - - COMPANY CORNER -

Tokio Marine & Nichido Fire In­surance re­ceived reg­u­la­tory ap­proval from Labuan FSA to set up a new rein­sur­ance sub­sidiary in Labuan, Malaysia.

Tokio Marine Global Re Asia (TMGRe Asia) in­tends to start writ­ing new and re­newal treaty busi­ness for the 2013 re­newal and on­wards, and will en­sure con­sis­tent ser­vice and fi­nan­cial se­cu­rity to Tokio Marine Global Re's clients in Asia with its stream­lined cor­po­rate struc­ture, said Mr Keith Maruyama, Di­rec­tor & CEO of Tokio Marine Global Re.

Tokio Marine Global Re, head­quar­tered in Dublin, Ire­land, has a Labuan branch that writes Asian treaty busi­ness. The branch will be run off and its port­fo­lio will be trans­ferred to TMGRe Asia af­ter the in­cor­po­ra­tion of the lat­ter. The in­cor­po­ra­tion is sub­ject to Ja­pan FSA’s ap­proval, which Mr Maruyama hopes to ob­tain be­fore the Jan­uary 2013 re­newal.

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