Tokio Marine Holdings 9M profits up on higher premiums
Non-life and life insurer Tokio Marine Holdings grew net income attributable to owners of the parent by 26.1 percent to ¥ 228.1 billion yen ($2.01 billion) in the nine months ended December 2016 compared to the same period a year ago.
Net premiums were up at ¥3.309 trillion compared to ¥2.894 trillion during the period. The combined ratio grew slightly to 91.1 percent 90.6 percent.
During the nine months ended December 31, 2016, after the election of US President Trump, expectations for his expansionary fiscal policy resulted in improved business confidence and the world economy, Europe and the US in particular, continued to recover gradually, the company said in a statement. In Japan, despite weakness in consumer spending, the economy continued to grow slowly due to recovery of production and exports, benefitting Tokio Marine Holdings’ business.
The operating environment and efforts to expand the business drove Tokio Marine Holdings’ results.
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