Q2 2025 Tokio Marine Holdings Inc Earnings Call Transcript

Nov 19, 2024 / 10:59 AM GMT

Transcript

Key Points

Positve

Tokio Marine Holdings Inc (TKOMF) reported strong underlying performance in its international underwriting business, particularly in North America and Brazil.
The company exceeded its original projection by divesting JPY606 billion in business-related equities in the first half of the year.
Profit projection including sales of business-related equities was revised upward by JPY40 billion due to accelerated sales.
The company announced an increase in dividend per share (DPS) from JPY159 to JPY162, reflecting strong profit growth.
Tokio Marine Holdings Inc (TKOMF) plans to increase its share buyback budget from JPY200 billion to JPY220 billion, indicating a strong capital position.

Negative

The company faces challenges with CRE loans due to high interest rates and inflation, leading to increased provisions.
Life insurance premiums decreased by 32.9% due to block reinsurance, impacting the top line.
Adjusted net income excluding sales of equities was revised down by JPY82 billion to JPY528 billion.
There is an increase in the loss ratio of auto insurance, although a rate increase is planned to address this.
Valuation of large M&A opportunities remains high, requiring patience and potentially limiting growth through acquisitions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

8766.T - Tokio Marine Holdings Inc
Q2 2025 Tokio Marine Holdings Inc Earnings Call
Nov 19, 2024 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Hello everyone.

My name is Gia CEO of mind holding. I thank you for your participation today and for your extended support for Tokyo Marines.

First of all, I will be explaining about the overview of second quarter earnings and key messages from the management.

Please turn to page 3.

There are three key messages I would like to convey to you today.

The first is about the underlying performance of our business regarding the first half earnings, leaving aside the FX factor which worked in favor of us, the underlying performance of underwriting business continues to be strong mainly in international business such as North America and Brazil regarding sales of business related equities.

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