Tokio Marine Holdings has reported a significant increase in international profits for 2023, totaling JPY 436.9 billion. The company attributes this growth to a strong underwriting result, investment income, and the reversal of the impact of COVID-19 in Taiwan.
In terms of regional performance, North America stood out with profits of JPY 359.9 billion, marking a 29.3% increase from the previous year. Meanwhile, Asia & Oceania showed improvement from a decrease in the previous year, now generating JPY 30.0 billion in profits.
Net premiums written (NPW) also saw a notable rise, increasing by 13.2% to reach JPY 2,910.0 billion for FY23. South & Central America experienced a significant increase of 34.4% in NPW, reaching JPY 310.0 billion. In North America, Tokio Marine achieved a strong combined ratio performance of 91.9% for its PHLY business, with a 31.6% expense ratio and a 60.3% loss ratio
