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Our philosophy and vision unites our teams and distinguishes us from all others in the industry.
With deep expertise in our chosen lines of business, our teams evaluate and manage risk like no one else
Tokio Marine Group
Tokio Marine HCC
Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom and continental Europe, transacting business in approximately 180 countries and underwriting more than 100 classes of specialty insurance.
In September 2017 Tokio Marine Group announced the regulatory approval process had begun to establish an insurance company in Luxembourg. Regulatory approval was then granted by the Luxembourg regulator, the Commissariat aux Assurances (CAA) and the Japanese Financial Services Authority in May 2018. The company will ensure that Tokio Marine Group will be able to continue servicing its clients in the European Economic Area (EEA) and offer a smooth transition of business as of 1 January 2019. The new operation, Tokio Marine Europe S.A.(TME) will have several branches across the European Union (EU) and will principally operate as a HCC International Insurance Company Plc (HCCI) subsidiary in partnership with Tokio Marine Kiln (TMK).
Our main aim is to maintain "business as usual", contract certainty and coverage continuity.
With this new arrangement in place we are confident that we will be able to continue servicing all our brokers and clients irrespective of the outcome of the Brexit negotiations.
This website gives you information about our plans for handling Brexit, including copies of documents associated with the legal processes, FAQs to help answer your pressing questions and latest news.
We will continue to provide regular updates to ensure that the information you receive is up to date at all times.
Broker and Client Key Questions
HCCI Policyholder Statement
HCCI Broker Letter
HCCI Coverholder Letter
HCCI Outwards Reinsurer Letter
HCCI Surety Bond Beneficiary Statement
Summary of Scheme
Independent Expert Report
Independent Expert Supplementary Report
Part VII Transfer Notice
Contenu du Brexit et FAQ
Déclaration relative aux titulaires de polices d'assurance
Lettres aux courtiers
Lettre aux mandataires
Lettre aux réassureurs
Déclaration relative aux bénéficiaires d'un cautionnement délivré par HCCI
Résumé du projet
Rapport de l'expert independant (Anglais)
Dokumente herunterladen
Brexit Inhalt und FAQs
Erklärung an die Versicherungsnehmer
Schreiben an die Makler
Schreiben an Rückversicherer
Schreiben an Zeichnungsbevollmächtigte
Zusammenfassung des Projekts
Unabhängiges Expertengutachten (Englisch)
Brexit: contenido y preguntas frecuentes
Declaración para el tomador de póliza del seguro
Carta a los corredores
Carta a la agencia de suscripción
Carta del reasegurador
Informe del experto independiente (Inglése)
Contenuti Brexit e domande frequenti
Dichiarazione all'assicurato di HCCI
Lettera ai broker
Lettera al Coverholder di HCC
Lettera ai riassicuratori
Riepilogo dello schema
Rapporto di esperti esterni (Inglese)
Tokio Marine Group receives approval to complete its Part VII transfer ahead of Brexit
Tokio Marine Group has announced that it has received approval from the High Court of England and Wales to complete the Part VII process
Tokio Marine Group receives regulatory approval for Tokio Marine Europe S.A. in Luxembourg
The well-capitalised insurance company will operate as a Tokio Marine HCC subsidiary in partnership with Tokio Marine Kiln.
Tokio Marine Group plans to set up an insurance company in Luxembourg for writing European business
Delivering business as usual
The company has been approved and various branches have now received regulatory approval, allowing all business to be transferred. TME branches are located in the following locations:
European business will be written by the new insurance company and all other business will continue to be processed as it currently is. TME will be supported by the existing Tokio Marine Group European and UK operations.
The High Court of England and Wales have granted the approval to transfer our existing portfolio of policies written out of our Continental European operations to TME via a Part VII transfer. The completion of this transfer allows the book of insurance policies to be moved form one legal entity to another within the EU. The transfer is effective as of 1 January 2019 and ensures that policyholders' rights are safeguarded with the new entity.
All HCCI, EEA business incepting after 1 January 2019 will be written by TME and its future EU branches.
If you have any questions or concerns, please contact us by email: brexit@tmhcc.com
How is TMHCC preparing for trading after Brexit?
Our main aim is to make the transition as smooth as possible for our brokers and clients, while maintaining "business as usual", contract certainty and coverage continuity.
We have set up a new insurance company, Tokio Marine Europe S.A. (TME), in Luxembourg in partnership with Tokio Marine Kiln (TMK). The company received regulatory approval from the Commissariat aux Assurances (CAA) and the Japanese Financial Services Authority (JFSA). TME will have a network of branches in several countries within the European Union (EU), handling all our European corporate business after Brexit. We are working to be ready to write business from 1 January 2019. We will continue to transact all non - European Economic Area (EEA) business as we do now.
With this arrangement in place we will be able to continue servicing our clients whatever the outcome of the Brexit negotiations.
Has the new insurance company received a rating?
Standard & Poor's (S&P Global) confirmed TME will have the same rating as HCC International Insurance Company Plc (HCCI), AA- (Very Strong).
Why choose Luxembourg?
We chose Luxembourg as the base for our new insurance company for several reasons. These include its physical location at the center of Europe, its economic background, stability and the fact that it has an experienced and well-respected regulator, the Commissariat aux Assurances (CAA). Together these give us an ideal environment from which to operate our European business with minimal disruption to our existing customers and brokers.
What is a part VII transfer?
This is a legal process that allows us to transfer insurance policies from one legal entity to another within the European Union (EU); in this case from HCC International Insurance Company Plc (HCCI) and its branches, to Tokio Marine Europe (TME) and its future branches. The process is being reviewed by the regulators and we also need to gain the UK High Court approval to do this, so that our clients' policies are fully protected throughout. Our proposed transfer will take place in the second half of 2018, in time for policy renewals and new business to be written from 1 January 2019.
Any person who alleges that he or she would be adversely affected by the carrying out of the insurance business transfer scheme (the "Scheme") is entitled to be heard by the Court at the hearing of the application, as are the Prudential Regulation Authority and the Financial Conduct Authority.
The application is directed to be heard before the Companies Court Judge at 7 Rolls Buildings, Royal Courts of Justice, Fetter Lane, London, EC4A 1NL on 16 November 2018 and any person (including staff employed in the performance of HCC International Insurance Company Plc (HCCI's) business, Tokio Marine Kiln Insurance Limited (TMKI's) business or Tokio Marine Europe S.A (TME's) business) who alleges that he or she would be adversely affected by the carrying out of the Scheme is entitled to object (by sending written representations to the solicitors named below and/or the Court or making oral representations to the solicitors named below) or may appear at the time of that hearing in person or by Counsel. Any person who intends to object orally or in writing or so to appear is requested (but not obliged) to notify his or her objections and the reasons therefor as soon as possible, and preferably before 14 November 2018, to Hogan Lovells International LLP (the solicitors acting for HCCI and TMKI) at Atlantic House, Holborn Viaduct, London, EC1A 2FG (tel: +44 20 7296 2000), quoting reference C4/NC/TJG.
You do not need to take any action unless you consider you would be adversely affected by the transfer going ahead and wish to object to the transfer.
Does this affect me if i am not Uk based?
Yes. The proposed transfer means that the business we currently transact within the European Economic Area (EEA), from the branches of our UK insurance company will be placed through our new Luxembourg company, Tokio Marine Europe (TME) and its future European Union (EU) branches. It will not affect the continuity of your cover nor the terms of any affected policy you may hold with us. It is simply a move to allow us to continue to offer our policies across Europe after Brexit.
What happens if the government's plans for brexit change?
There are various scenarios that may arise from the Brexit negotiations, and our Brexit strategy considers these potential outcomes. We keep a close watch on the UK Government's negotiations with the European Union (EU). Should their plans change significantly we will of course see how that might affect us. Meanwhile it makes sound business sense for us to carry on with developing the solution we've outlined.
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