In the blink of an eye we are mid-way through 2016. In light
of the economic headwinds and challenging conditions in
our markets, I would like to thank you for keeping up your
individual and positive contributions.
We had a slow-start on P&C business in Q1 2016 across the
region with marginal growth in both GWP and NWP at 3.5%
and 3.3% respectively and experienced higher loss ratios in
a few countries. Both our top and bottom line fell short of
2016 planned targets. For Life business, we had a strong
Q1 with high growth in AFYP across all distribution channels
but we see a softening of VONB and VONB margins due to
lower interest rates. As we enter the second half of 2016,
I strongly urge all our colleagues to pick up the momentum
and work hard towards achieving our full year targets.
It is important that we continue to learn from each other,
be innovative in our services (catch the launch of Tokio
Marine’s new cyber insurance product and regional
initiatives), constantly improving business processes,
participate in meaningful collaborations & acquisitions to
grow our footprint in the market.
We have just concluded our 2016 Regional Management
Conference held in Singapore, 9-10 June and it heartens me
to see the high level of interaction between Tokio Marine
staff from around the region and the quality of discussions
taking place over a compact 2-day agenda. I hope it has
been a purposeful event for all and I look forward to meeting
some of you at the next Top Management Conference to
be held in Hanoi in August 2016, where we embark on 2017
business planning.
Moving forward as one Tokio Marine Insurance Group, we
continue to honour achievements from top-performing
staff at regular appreciation events such as agency nights
and award presentations. Our parent company have
also launched the Good Company awards to recognize
individuals who exemplify the values of To Be A Good
Company as we empower our people and look beyond profit
while delivering on our commitments. This year, 2 awardees
came from the Asia region, congratulations to Dr Yuan
Kurniawan (TMLI) & Paichayon Sutheerapongpun (TMITH) for
doing us proud!
Last but not least, our thoughts remain with the victims
and the less fortunate of the recent Kumamoto Prefacture
Earthquakes in Japan. Numerous structures collapsed,
with government officials estimating that more than 1,000
buildings had been seriously damaged, with 90 completely
destroyed. As the largest property & casualty insurance
group in Japan, our customers and society at large needs
us most during times like this. Let’s do our best to support