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Tokio Marine international net premiums rise 16.6% in Q1 2026
North America generated 632.1 billion yen of Q1 net premiums, up 15.4% year on year, while the international combined ratio improved slightly to 88.8%.
Tokio Marine’s international business reported 16.6% growth in net premiums written to 934.7 billion yen, or $5.9 billion, in the first quarter of fiscal 2026, as underwriting results stayed broadly ahead of plan with some regional deterioration.
The insurer said the international segment remained broadly on track toward its full year target of 3.762 trillion yen. North America was the largest contributor, with Q1 net premiums of 632.1 billion yen, up 15.4% year on year.
Tokio Marine reported insurance-related profit before tax of 133.4 billion yen, up 20.2% from the prior year quarter, and a marginal improvement in the international combined ratio to 88.8% from 88.9%. The company attributed the underlying performance to a lower natural catastrophe contribution, with nat cat losses at 0.9 percentage points of the ratio versus 1.6 points a year earlier.
Outside North America, results were mixed, including a sharp drop in EMEA insurance-related profit before tax to 1.5 billion yen, down 81.9%, after large losses tied to the Middle East conflict. By contrast, LATAM saw insurance-related profit more than double to 18 billion yen and APAC increased profit 47.6% to 12.1 billion yen, supported by performance in Malaysia, Singapore, and Taiwan.