Japan’s four top property and casualty insurers, along with other financial firms, are planning to sell around ¥500 billion ($3.1 billion) worth of shares in Honda Motor Co., Reuters reported. Tokio Marine Holdings Inc., Sompo Holdings Inc. and two units …
Shares of Japanese insurers MS&AD Insurance Group Holdings Inc. and Tokio Marine Holdings Inc. surged after the companies announced stock buybacks, as well as plans to sell their holdings in client companies. MS&AD, which also reported full-year guidance that exceeded …
MS Reinsurance, the reinsurance subsidiary of MS&AD Insurance Group Holdings, has received rating upgrades from AM Best and S&P Global Ratings. On April 26, 2024, AM Best announced it had upgraded the company’s financial strength rating to “A+” (Superior) from …
Warren Buffett’s buying of Japanese trading firms helped propel the nation’s stocks to multi-decade highs. Six months on, insurers and banks are emerging as the next potential value targets. Insurers have low price-to-book ratios, strong fundamentals and relatively high returns, …
Japan’s competition watchdog has begun an investigation into whether the top four non-life insurers colluded to set premiums for their corporate clients, according to a person familiar with the matter, becoming the latest regulator to look into the issue. The …
A price-fixing scandal at Japan’s biggest casualty insurers is escalating following a media report that the suspected collusion is likely to be wider than initially believed. Shares of Tokio Marine Holdings Inc., MS&AD Insurance Group Holdings Inc. and Sompo Holdings …
AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of MS Amlin AG (Switzerland). The outlook of the Long-Term ICR has been …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
Japan’s buyers of Russian liquefied natural gas are assessing how imminent changes to shipping insurance — triggered by the ongoing war in Ukraine — will affect supplies from the key Sakhalin-2 project in Russia’s Far East. Three Japanese insurance companies …
Hippo Enterprises, an MGA insurtech focused on homeowners insurance, secured a $350 million capital investment designed to help fuel further growth. A related reinsurance agreement is also part of the deal. Mitsui Sumitomo Insurance Co. Ltd., a subsidiary of MS&AD …
