Tokio Marine announces participation in ADB’s credit insurance program

The program aims to solve social issues in emerging countries in APAC.

Tokio Marine Holdings will be participating in Asian Development Bank's (ADB) comprehensive credit insurance program.

Through its subsidiaries, Tokio Marine & Nichido Fire Insurance Co., Ltd., and  HCC Insurance Holdings, Inc. will help ADB to solve social issues in emerging countries in the Asia Pacific (APAC) region that are members of ADB.

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APAC accounts for more than one-third of the world’s GDP however the region faces a wide range of social issues such as poverty which ADB has been working to solve through providing funding, knowledge, technology, and policy analysis methodology, in line with achieving various development goals such as Sustainable Development Goals, the Paris Agreement, and other major international commitments. 

Under the Comprehensive Credit Insurance Program, Tokio Marine, through its subsidiaries, will support ADB by providing a credit insurance product covering ADB’s loans to companies located in the emerging countries on an individual loan contract basis, which includes loans to banks providing housing loans for low-income earners and to commodity traders supporting small farmers. 

Tokio Marine will also provide comprehensive credit insurance coverage for ADB’s loans to financial institutions in emerging countries that meet certain criteria aiming to further support ADB's efforts to solve social issues in these countries. 

The partnership participation will last for three years.

Aside from Tokio Marine’s subsidiaries, AXA XL, Chubb, Liberty Specialty Markets, and Allianz Trade will be participating in the program. The program will mobilize  $1b of cofinancing capacity to support lending to financial institutions in Asia and the Pacific.