Kunio Ishihara
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in April 1966. He became Director and head of the Hokkaido Division in June 1995, Managing Director in June 1998 and Senior Managing Director in June 2000, and was appointed President of Tokio Marine and Fire Insurance in June 2001. With the creation of a holding company in April 2002, he also became the first President of Millea Holdings. The holding company was born from a joint share transfer by Tokio Marine and Fire Insurance and Nichido Fire and Marine Insurance and listed on the first sections of the Tokyo and Osaka stock exchanges.
Selection
In April 2002 he succeeded Kokei Higuchi as the first President of Millea Holdings, Japan's first listed insurance holding company. Shortly before, on January 31 that year, it had been announced that the planned integration of life insurance operations with Asahi Life Insurance was being dropped because the sides could not agree on the valuation of goodwill. Millea's shareholders' equity at the end of March 2002 was ¥2,280.0 billion, ¥248.0 billion lower than a year earlier owing to falling share prices. The company was launched right after the plan to combine life and non-life insurance had collapsed.
Initiatives
After taking office he dropped the integration of Asahi Life into Millea and also scrapped plans for Kyoei Fire and Marine Insurance to join the group. In October 2003 he merged Tokio Marine Anshin Life Insurance with Nichido Life Insurance, and in February 2004 acquired all shares of Skandia Life Insurance. In October 2004 Tokio Marine and Fire Insurance and Nichido Fire and Marine Insurance merged to form Tokio Marine & Nichido Fire Insurance. In fiscal 2003, before the merger, the company lost the top spot in auto insurance to Sompo Japan for the first time. Over unpaid insurance claims it received a business improvement order in November 2005 and an order to suspend part of its operations in March 2007.
Career
Career
Tokio Marine and Fire Insurance
| Date | Position |
|---|---|
| Apr 1966 | Joined |
| Jun 1995 | Director, General Manager, Hokkaido Headquarters |
| Jun 1998 | Managing Director, General Manager, Hokkaido Headquarters |
| Jun 2000 | Senior Managing Director |
| Jun 2001 | President |
Tokio Marine Holdings
| Date | Position |
|---|---|
| Apr 2002 | President, Mirea Holdings |
| Jun 2007 | Chairman |
| Jun 2007 | Stepped down as President |