12 February 2015News

Tokio Millennium Re posts strong results

Tokio Millennium Re, the reinsurance subsidiary of Tokio Marine, has posted solid results for the first nine months of 2014.

The reinsurer wrote $1.1 billion in reinsurance premiums assumed in the first nine months of 2014, an increase of 35 percent compared with $788.8 million in the first nine months of 2013.

Its revenues hit $631.3 million in the first nine months, compared with $519.3 million in the same period of the prior year.

However, its profits fell to $80 million for the period, compared with $99.4 million in the first nine months of 2013. Income from catastrophe bonds also fell to $1.4 million in the first nine months of 2014, compared with $2.7 million in the same period of the prior year.