Tokio Marine Holdings Inc 8766

JPY 6,179.00 −64.00 (1.03%)

As of Jul 8, 2024 5:10am Delayed Price Open

Company Report

Tokio Marine's Nonlife Activities Are Benefiting From Higher Prices

Lorraine Tan Feb 15, 2024

We think Japan’s nonlife insurance sector has more appeal as a long-term investment than most other areas of Japanese finance, such as banking, securities, or life insurance, because industrywide return on assets has roughly doubled after the last round of industry consolidation in 2010. Three firms—Tokio Marine, MS&AD, and Sompo—stably control around 88% of market share, and only three others (including AIG, the nonlife unit of an agricultural cooperative insurer, and Sony Assurance) have even 1%.

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Bulls Say, Bears Say

Bulls

Tokio Marine has a consistent record of delivering stock outperformance relative to the Japanese market and other insurers.

Bears

Tokio Marine’s superior financial performance relative to Japanese peers is already well recognized by the market, so any future slip-up could be punished.

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News

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Japanese Insurers' Shares Slide on Reports of FSA Request

Global News Select Jun 20, 2023 4:10am

Trading Information

Previous Close Price: JPY 6,243.00
Day Range: JPY 6,152.00–6,259.00
52-Week Range: JPY 2,960.50–6,348.00
Bid/Ask: JPY 6,177.00 / JPY 6,178.00
Market Cap: JPY 12.12 Tril
Volume/Avg: 2.3 Mil / 5.6 Mil

Key Statistics

Price/Earnings (Normalized): 18.16
Price/Sales: 1.74
Dividend Yield (Trailing): 1.97%
Dividend Yield (Forward): 2.55%
Total Yield: 2.39%

Company Profile

Dating back to 1879, Tokio Marine is Japan’s oldest insurance company and was its top property and casualty insurer in terms of market share for many decades. After mergers of its smaller rivals in the past few years, the company is now roughly the same size in the domestic nonlife market as MS&AD and Sompo Holdings, but it remains the most valuable listed Japanese insurer in terms of market capitalization due to its larger overseas business portfolio. The majority of its overseas business is in the U.S., where it has purchased four specialty insurers since 2008: Philadelphia Consolidated, Delphi Financial, HCC, and PURE. It is a member of the Mitsubishi keiretsu group and holds minority stakes in a number of group companies that also rank among its shareholders.

Sector: Financial Services
Industry: Insurance - Property & Casualty
Stock Style Box: Large Growth
Total Number of Employees: 43,870
Website: http://www.tokiomarinehd.com

Competitors

Valuation

Metric	8766	8725	8750
Price/Earnings (Normalized)	18.16	12.09	20.84
Price/Book Value	2.38	1.12	1.14
Price/Sales	1.74	0.79	0.43
Price/Cash Flow	23.15	—	—

Price/Earnings

8766

8725

8750

Financial Strength

Metric	8766	8725	8750
Quick Ratio	—	—	—
Current Ratio	—	—	—
Interest Coverage	32.60	45.22	11.76

Quick Ratio

No chart available

Profitability

Metric	8766	8725	8750
Return on Assets (Normalized)	2.89%	1.62%	0.83%
Return on Equity (Normalized)	19.62%	11.22%	17.22%
Return on Invested Capital (Normalized)	19.06%	9.50%	11.19%

Return on Assets

8766

8725

8750

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Insurance - Property & Casualty Industry Comparables

Screen With Investor

Name	Capital Allocation	Economic Moat	Market Cap
Progressive Corp PGR	Czpchlxkv	Wczrj	$123.1 Bil
Chubb Ltd CB	Rwdngckk	Wqwsmf	$102.5 Bil
Tokio Marine Holdings Inc ADR TKOMY	Lcggnmyq	Gljpb	$75.9 Bil
Tokio Marine Holdings Inc TKOMF	—	Kpbd	$75.9 Bil
The Travelers Companies Inc TRV	Rzpnlvvfh	Fwpvl	$46.2 Bil
Allstate Corp ALL	Qjlhjsd	Rycz	$41.8 Bil
MS&AD Insurance Group Holdings Inc MSADF	—	Xzyy	$37.5 Bil
MS&AD Insurance Group Holdings Inc ADR MSADY	—	Wpk	$37.5 Bil
WR Berkley Corp WRB	Sqnxsmrdg	Nqynk	$20.1 Bil
Markel Group Inc MKL	Nrgtqxjt	Ylqf	$20.0 Bil