Tokio Marine sells Guam subsidiary to Calvo Enterprises

To validate capital efficiency improvement and risk diversification efforts, TMPI was put up for sale.

Tokio Marine Holdings has signed a definitive agreement with Calto Enterprises regarding the sale of Guam-based Tokio Marine Pacific Insurance (TMPI).

The transaction is still subject to regulatory approval and is seen to finish in the latter part of the year, the Japanese insurer said in a filing.

TMPI specialises in underwriting medical and property & casualty (P&C) insurance, which caters to both Guam and the Northern Mariana Islands through managing general agents.

The Guam insurer saw $176m in written premiums last year and has been continuously growing its business. However, to validate capital efficiency improvement and risk diversification efforts, TMPI was put up for sale.

ALSO READ: Tokio Marine HCC acquires renewal rights for US insurer’s portfolio

“It was decided to divest TMPI for further portfolio optimization and we have agreed its sale to Calvo, a TMPI managing general agent that has shown a keen interest in TMPI's business portfolio,” the statement said.

The affiliated hospital service provided by Tokio Marine & Nichido Fire Insurance will not be affected by this move.

Follow the links for more news on

Tokio Marine & Nichido Fire Insurance

Tokio Marine Holdings

Also Read

FWD Philippines targets gamer insurance gaps

Korean construction insurer maintains strong capital

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit