Tokio Marine Nichido
Tokio Marine & Nichido Fire Insurance Co., Ltd. (東京海上日動火災保険株式会社 Tōkyō Kaijō Nichidō Kasai Hoken Kabushiki-Kaisha), commonly called Tokio Marine Nichido, is a property/casualty insurance subsidiary of Tokio Marine Holdings, the largest non-mutual private insurance group in Japan. Tokio Marine Holdings was formerly known as Millea Group, which underwent a name change in July 2008. Its headquarters are in Marunouchi, Chiyoda, Tokyo.
The company is one of the very few groups and individuals that still use the spelling Tokio for the city in the English language. The company is a member of the Mitsubishi UFJ Financial Group (MUFJ) keiretsu.
History
The Tokio Marine and Fire Insurance
The antecedent Tokyo Marine insurance is the first insurance company (as the marine insurance company) in Japan, and also the top sales damage insurance company of Japan in pre-war era.
Tokio Marine
Tokio Marine Holdings, Inc. (株式会社東京海上ホールディングス Kabushiki-kaisha Tōkyō Kaijō Hōrudingusu, TYO: 8766, OTC Pink: TKOMY), formerly known as Millea Holdings until 2008, is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/casualty insurance group in Japan in terms of revenue, employing 29,000 people in 38 countries worldwide.
History
Originally founded in 1879 as Tokio Marine Insurance, it is the oldest insurance company in Japan. Millea Holdings was established in 2002 to become the parent company to Tokio Marine Insurance and Nichido Fire Insurance in preparation for their merger.
Tokio Marine acquired the Philadelphia Insurance Companies for $4.7 billion in 2008, and acquired the Delphi Financial Group for $2.66 billion in 2012. In June 2015, Tokio Marine announced it would be acquiring HCC Insurance Holdings for $7.5 billion. Tokio Marine forecast that 46% of its profits would come from outside Japan following the HCC acquisition.
