Tokio Marine Holdings reported its consolidated business results for the three months ending June 30, highlighting increases in both ordinary and net income compared to the same period in the previous fiscal year.
The group’s consolidated total assets stood at ¥30,562.9 billion as of June 30, reflecting a decrease of ¥674.4 billion from March 31. Ordinary income for the quarter rose to ¥2,268.5 billion, an increase of ¥344.4 billion year‑on‑year. This was driven by underwriting income of ¥1,527.7 billion and investment income of ¥653.7 billion.
Ordinary expenses totalled ¥1,703.2 billion, up ¥44.2 billion from the same quarter in FY2024. These included underwriting expenses of ¥1,227.8 billion, investment expenses of ¥78.6 billion, and operating and general administrative expenses of ¥388.3 billion.
Ordinary profit for the quarter reached ¥565.2 billion, rising by ¥300.2 billion from the prior year period. Net income attributable to owners of the parent came to ¥466.8 billion, up ¥269.5 billion year‑on‑year. This figure includes extraordinary gains and losses as well as total income taxes.
In the full year ended March 31, Tokio Marine posted net income of ¥695.8 billion – up from ¥374.6 billion in the prior year – and raised its full‑year adjusted net income forecast to ¥1.04 trillion, reflecting improved underwriting results, stronger demand across business lines, and gains from accelerated energy of business‑related equity sales.
By segment, the domestic non‑life insurance business recorded a year‑on‑year increase in ordinary income of ¥289.7 billion, reaching ¥1,164.0 billion. Ordinary profit in this segment rose by ¥324.2 billion to ¥428.2 billion.
In the domestic life insurance business, ordinary income increased by ¥35.6 billion to ¥169.6 billion, while ordinary profit rose by ¥27.1 billion to ¥35.4 billion.
The international insurance business saw a slight decrease in ordinary income, which fell by ¥3.0 billion to ¥1,025.7 billion. Ordinary profit in this segment declined by ¥53.4 billion, coming in at ¥97.1 billion.
During the reporting period, the global economic landscape was marked by ongoing volatility. US trade policy uncertainty and a gradual slowdown in the American labour market and consumer spending created headwinds, although global conditions remained broadly stable.
The European economy showed signs of improvement, and policy support contributed to a recovery in the Chinese economy. In contrast, Japan’s economic activity remained subdued, with weak domestic demand and the effects of inflation slowing the pace of recovery.
The group previously adjusted its consolidated full‑year forecasts, setting a revised ordinary profit target of ¥1,380.0 billion and net income attribution of ¥1.0 trillion, underpinned by stronger-than‑expected earnings. The revision followed robust performance, particularly overseas, allowing the company to lift its guidance.
Tokio Marine also announced that it is maintaining a selective approach to growth in specialty and cyber insurance lines – especially in the US – to manage rising litigation costs and mitigate concentration risk, even as these segments have delivered solid underwriting results to date.
The insurer also implemented leadership changes during the period, promoting Kenji Okada and Kichiichiro Yamamoto to vice‑president directors, while Yoichi Moriwaki and Kiyoshi Wada were elevated to senior managing director roles, signalling a strategic realignment amid ongoing expansion.
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