S&P expects Tokio Marine Insurance Singapore to sustain market presence

It is also projected to maintain its significance within Tokio Marine Group.

Tokio Marine Insurance Singapore (TMIS) is projected to sustain its presence in Singapore's competitive property and casualty (P&C) market with favourable operating performance relative to peers, S&P Global Ratings said. 

Although economic growth may slow, TMIS's underwriting earnings are expected to remain moderate through 2024, supported by intergroup reinsurance arrangements and investment discipline, ensuring strong capitalisation.

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TMIS is also foreshadowed to maintain its significance within Tokio Marine Group, contributing to the group's global business strategy. 

As a Singapore-based subsidiary, TMIS provides property and casualty insurance locally and serves multinational corporate clients while facilitating risk and capital management among group companies.

Supported by the group's resources, TMIS benefits from branding, risk management, and other support services. Despite its modest contributions to group capital and earnings, the group is unlikely to divest its interest in TMIS.