Tokio Marine profit up 12% in Q1

Japan-based Tokio Marine Holdings reported ordinary profit of ¥138.06 billion ($1.24 billion) for the first quarter of its 2018 financial year (April-June), up 11.7 percent year on year.

Underwriting income increased to ¥1.192 trillion from 1.179 trillion over the period. Investment income declined to ¥176,86 billion from ¥193.82 billion.

Tokio Marine has warned that losses from heavy rain in July 2018 are estimated at approximately ¥50 billion for its unit Tokio Marine & Nichido Fire.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

More of today's news

Maiden CEO steps down amidst restructuring

AmTrust weighs on Maiden’s Q2 results

AmTrust swings to loss in Q2

Europe drought, wildfires cause at least €3.5bn economic loss

Sompo underwriting income shrinks in Q1 (April-June)

MassMutual-owned startup Haven Life buys insurtech Quilt

Trust Re results delay affects Oman Re

Don't miss our insurtech email newsletter - sign up today