Tokio Marine hikes stake in Malayan Insurance

MANILA, Philippines - Tokio Marine Holdings Inc. has increased its equity stake in Malayan insurance Co. Inc. to a total of 20 percent. Tokio Marine is the leader in Japan’s non-life insurance market, and one of Japan’s oldest general insurers. According to Tokio Marine, the robust Philippine non-life insurance market, which is expected to improve in the coming years, led them to invest with Malayan Insurance. A member of the Yuchengco Group of Companies, Malayan Insurance topped the industry with terms of gross premiums written (GPW) of over P7 billion last year. Tokio Marine is a Global Fortune 500 company that first entered the Philippine market in 1964 through a joint venture company with the Malayan Group of Insurance Companies.