Tokio Marine HCC is an international

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

group with offices across the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

, the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

Spain Spain, or the Kingdom of Spain, is a country in Southern Europe, Southern and Western Europe with territories in North Africa. Featuring the Punta de Tarifa, southernmost point of continental Europe, it is the largest country in Southern Eur ...

, and

Ireland Ireland (, ; ; Ulster Scots dialect, Ulster-Scots: ) is an island in the North Atlantic Ocean, in Northwestern Europe. Geopolitically, the island is divided between the Republic of Ireland (officially Names of the Irish state, named Irelan ...

. The company is based in

Houston Houston ( ) is the List of cities in Texas by population, most populous city in the U.S. state of Texas and in the Southern United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the county seat, seat of ...

Texas Texas ( , ; or ) is the most populous U.S. state, state in the South Central United States, South Central region of the United States. It borders Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the we ...

, U.S.

History

The company (formerly HCC Insurance Holdings, Inc.) was formed as Houston Casualty Company in 1974 by Stephen L. Way. The company reports to have paid shareholder dividends for 67 consecutive quarters. In 2010, it posted $2.6 billion in gross premiums, $2.3 billion in total revenue, earnings of $345 million, and a combined ratio of less than 85%. On June 10, 2015, the company announced it was being acquired by

Japan Japan is an island country in East Asia. Located in the Pacific Ocean off the northeast coast of the Asia, Asian mainland, it is bordered on the west by the Sea of Japan and extends from the Sea of Okhotsk in the north to the East China Sea ...

Tokio Marine , is a multinational insurance holding company headquartered in Tokyo, Japan. It is the largest property/ casualty insurance group in Japan in terms of revenue and is the parent company for the Tokio Marine Group which employs 39,000 people in 3 ...

for a fee of $7.5 billion. On October 27, 2015, the company announced the closing of the acquisition by Tokio Marine. The aggregate consideration paid in connection with the merger was approximately $7.5 billion, and the merger became effective at 4:05 p.m. EDT.

Aviation

Aviation Aviation includes the activities surrounding mechanical flight and the aircraft industry. ''Aircraft'' include fixed-wing and rotary-wing types, morphable wings, wing-less lifting bodies, as well as lighter-than-air aircraft such as h ...

was the first line of insurance provided by Tokio Marine HCC. The company's insurance for aviation includes liability, cargo, and war. HCC Aviation insures approximately 45,000 aircraft in the United States and more than 60 countries worldwide. Avemco Insurance Company was a stand-alone

NYSE The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

company acquired by Tokio Marine HCC in 1997. Avemco provides traditional coverage on its standard policy and protects renters and borrowers of general aviation aircraft for non-owned aircraft policy. Houston Casualty Company Aviation (HC Aviation) writes a combination of international and U.S. commercial

aviation insurance Aviation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are distinctly different from those for other areas of transportation and tend to incorporat ...

. USSIC Aviation writes

General Aviation General aviation (GA) is defined by the International Civil Aviation Organization (ICAO) as all civil aviation aircraft operations except for commercial air transport or aerial work, which is defined as specialized aviation services for other ...

and special risk insurance. General Aviation insurance provides insurance through brokers and agents. USSIC Aviation is the largest insurer of warbirds (that is, propeller- and jet-driven military surplus aircraft owned individually or held by aircraft museums).

Liability

The company underwrites Directors and officers liability insurance through its HCC Global subsidiary. The company offers both domestic U.S. and international coverage. The company reports to have relationships with approximately 550 brokers in more than 50 countries.

Accident and health

Tokio Marine HCC offers sports

disability insurance Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work func ...

to protect against the future loss of earnings of athletes who may become temporarily or permanently disabled and can no longer continue their professional sports career. Coverage is available for the team or individual players.

International operations

Houston Casualty Company was authorized by Her Majesty's Treasury in 1998 to operate a full branch office in the

. HCC has offices in the United Kingdom,

, and

. Tokio Marine HCC is an owner of a Lloyd's managing agency and 100% capital provider of a Lloyd's syndicate. In anticipation of

Brexit Brexit (, a portmanteau of "Britain" and "Exit") was the Withdrawal from the European Union, withdrawal of the United Kingdom (UK) from the European Union (EU). Brexit officially took place at 23:00 GMT on 31 January 2020 (00:00 1 February ...

, a new insurance company, Tokio Marine Europe S.A. (TME), was set up in Luxembourg, following regulatory approval from the Commissariat aux Assurances (CAA) and the Japanese Financial Services Authority (JFSA). TME operates as a subsidiary of HCC International Insurance Company plc. in partnership with Tokio Marine Kiln. With approval from the High Court of England and Wales, the Part VII process of transferring the existing portfolio of policies written out of Continental European operations to Tokio Marine Europe S.A. was executed. On May 7, 2018,

S&P Global Ratings S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is cons ...

assigned Tokio Marine Europe S.A. a "AA- (Very Strong)" financial strength rating. The company is based in

, but it also has offices in

Connecticut Connecticut ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the south. ...

, Frederick (Maryland),

, the

, and New York.

Acquisitions

* In 1996, the company acquired LDG Management Company. * In 1997, the company acquired Managed Group Underwriting. * In 1998, the company acquired Guarantee Insurance Resources. * In 1999, the company acquired Centris Group Inc. (insurance company). The same year, the company also acquired Midwest Stop Loss Underwriters. * In 2002, the company acquired Dickson Manchester Ltd. and MAG Global Financial Products. * In 2004, the company acquired American Contractors Indemnity Company and RA&MCO Insurance companies. * In 2005, the company acquired US Surety company, DeMontfort Group, Ltd., Perico Ltd., MIC Life Insurance, and the Ilium Insurance Group. * In 2006, the company acquired Novia Underwriters, Inc., G.B. Kenrick & Associates, and the Health Products Division of Allianz Life Insurance. * In 2008, the company acquired Cox Insurance Group, Arrowhead Public Risk, VMGU Insurance Agency, the Surety Company of the Pacific, and MultiNational Underwriters. * In 2009, the company sold its reinsurance brokerage business Rattner MacKenzie Limited and transferred rights relating to brown water marine to its original owner. The company also combined two Lloyd's syndicates to try to achieve more operational efficiency. The company formed a Property Treaty underwriting team. * In 2010, the company started a Technical Property division. * In 2011, the company opened Primary Casualty and Excess Casualty divisions. * In 2013, the company enters the North American construction property risks markets, and begins to offer builders risk treaty reinsurance out of London office. * In 2015, the company acquired Producers Ag Insurance Group (ProAg), a writer of crop insurance. *In 2016, the company acquired Bail USA, Inc., a wholesale bail agency and On Call International. *In 2017, the company acquired AIG's Medical Stop-Loss and Organ Transplant operations. *In 2018, the company acquired Qdos Contractor, a provider of insurance products and services to the UK. *In 2019, the company acquired NAS Insurance Services, LLC. * In 2020, the company acquired GCube.

References

External links

{{authority control Financial services companies established in 1974 Companies formerly listed on the New York Stock Exchange Insurance companies of the United States Companies based in Houston Insurance companies based in Texas Tokio Marine American subsidiaries of foreign companies 2015 mergers and acquisitions