The Toa Reinsurance Company Limited

The Toa Reinsurance Company Limited (Toa Reinsurance or Toa Re) is a major reinsurance provider based in Tokyo, Japan. In fiscal 2023, it wrote JPY280.8 billion in premiums (about $1.9 billion) and earned JPY15.6 billion ($102 million).

History of The Toa Reinsurance Company Limited

Toa Reinsurance began in 1940 under the name The Toa Fire and Marine Reinsurance Company. It paused reinsurance work in 1945 but restarted its original focus by 1947.

In 1999, it adopted the name Toa Reinsurance Company Limited to reflect its global reinsurer role. Other key events in the company’s long history include:

• 1952: began accepting reinsurance business from international clients for the first time
• 1975: opened its first overseas office in London to grow its global network
• 1982: launched a New York office and expanded into the US market
• 1997: received approval to offer life reinsurance alongside non-life products
• 1999: opened offices in Kuala Lumpur and Hong Kong to support Asian growth
• 2002: launched a new European unit, The Toa 21st Century Reinsurance Company Ltd.
• 2009: joined the Global Reinsurance Forum, a global group of leading reinsurers
• 2017: secured approval from Lloyd’s to run a Special Purpose Arrangement (SPA 6132)
• 2018: acquired a Lloyd’s corporate member and expanded business through the SPA
• 2023: ranked #22 among the world’s 40 largest reinsurers by S&P Global Ratings

The company most recently reported record income for the first half of 2024. In the same year, AM Best reaffirmed Toa Re’s financial strength rating of A (Excellent). The upgrade followed improved income and better results across both life and non-life portfolios.

Reinsurance products and services

The Toa Reinsurance Company Limited offers reinsurance for both non-life and life insurance businesses. It works with clients in Asia, North America, Europe, the Middle East, and Africa.

Non-life reinsurance

Toa Re provides a wide range of non-life reinsurance cover, including:

• property: includes fire, glass, boiler and turbo set, windstorm and flood, and machinery
• casualty: covers general liability, credit, guarantee (surety bond), and workers’ compensation
• motor: includes voluntary and compulsory automobile liability insurance
• marine: covers goods in transport and shipping-related risks
• engineering: captures contractors' all risks, atomic energy, and movables comprehensive insurance
• agriculture: protects crops and livestock from losses due to nature or disease

They also offer transit, pet, aviation reinsurance, and more. These are offered through treaty and facultative structures, on both proportional and excess of loss terms.

Life reinsurance

Toa Reinsurance also reinsures life-related risks with a focus on two key areas:

• mortality: provides protection against the risk of death
• morbidity: covers long-term illness, disability, or health-related conditions

This helps life insurers manage risk and keep their portfolios stable over time.

Regional partners

Toa Re America supports clients across the US and Canada. It offers reinsurance for property, casualty, agriculture, and professional lines.

Toa Re Europe, based in Switzerland, works with partners across Europe, the Middle East, and Africa. It focuses on non-life and life reinsurance, using a client-first approach in every solution.

Culture and core values

Toa Reinsurance Company Limited supports a sustainable society through all areas of its business. It sees climate change and global risks as key issues as well.

Promotion of diversity and inclusion (D&I)

Toa Re works to protect human rights and create a workplace where everyone can thrive. The company continues to build an open, flexible culture through these actions:

• Promote diversity: values human resources that respond to social trends and evolving customer needs
• reform workstyles: supports work-life balance, flexible hours, and equal access to childcare leave
• develop human resources: provides training to grow professional skills, mindset, and social responsibility

And to help staff grow and stay fulfilled, Toa Reinsurance keeps improving how it evaluates and rewards employee work.

Respect for human rights

Toa Reinsurance Company Limited works to create a workplace free from harassment and unfair treatment. Staff receive training and take part in awareness efforts. It also supports volunteering and social trust through community-based activities.

Other initiatives

Toa Reinsurance served Sanriku Joban Mono lunches to support disaster recovery areas. It hosted a Reconstruction Marche with goods from Fukushima to aid earthquake-hit regions. The firm also gave JPY2 million for 2024 Noto earthquake relief through Japan Platform.

The future at The Toa Reinsurance Company Limited

APAC reinsurers are holding steady with strong capital despite climate and market pressures. Toa Re aims to grow overseas while adjusting its portfolio to manage global risk. Focus remains on underwriting, capital strength, and navigating rising retrocession and catastrophe costs.

The Toa Re Group’s future plan KIZUNA 2026 focuses on trust, growth, and connection. It prioritizes climate action, human rights, and more. The Toa Reinsurance Company Limited continues to build value by staying committed to its mission of peace of mind.