Kokei Higuchi
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in April 1960. He became a Director in 1989, Managing Director in 1992 and Senior Managing Director in 1995, and was appointed President in June 1996. At the time Tokio Marine held an 18% industry share of net premiums written in 1995 and was the leading non-life insurer of the Mitsubishi group, strong in corporate lines starting with marine insurance. As of July that year it had 137 staff posted overseas in 49 cities worldwide.
Selection
He became President in June 1996, succeeding Shunji Kono. Just before, in May that year, the US insurer AIU had protested to the Finance Minister that the basis for revising personal accident insurance rates was opaque, openly challenging the government's convoy-style regulation. In December the Japan-US insurance talks were settled, with non-life premium rates to be fully liberalized by July 1998. The blow would be heaviest for the largest players, which had benefited most from regulation, and the industry's biggest workforce of 14,000 threatened to become a burden.
Initiatives
Corporate insurance was fully liberalized in January 1998, and in July that year the obligation to use rating bureau rates for personal lines was lifted. When risk-segmented auto insurance was allowed in September 1997, American Home of the US entered with premiums up to nearly 30% cheaper depending on conditions. With its network of about 80,000 agencies at risk of turning into a weakness, Tokio Marine chose not to rush into direct sales but to coexist with its agents. In 1996, after life and non-life insurers were allowed into each other's businesses, it set up Tokio Marine Anshin Life Insurance with capital of ¥30.0 billion. In September 2000 it announced a plan for a comprehensive insurance group with Nichido Fire and Asahi Life.
Career
Career
Tokio Marine and Fire Insurance
| Date | Position |
|---|---|
| Apr 1960 | Joined |
| 1989 | Director |
| 1992 | Managing Director |
| 1995 | Senior Managing Director |
| Jun 1996 | President |
| Jun 2001 | Chairman |
| Jun 2001 | Stepped down as President |