Tsuyoshi Nagano
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in April 1975. He became Managing Executive Officer in June 2006, Senior Managing Director in June 2010 and Executive Vice President in June 2012. On becoming President of Tokio Marine Holdings in June 2013 he also became President of Tokio Marine & Nichido Fire Insurance, holding the operating company presidency until he stepped back to Chairman in April 2016.
Selection
He became President in June 2013, succeeding Shuzo Sumi. In the fiscal year ended March 2013, the year before he took office, ordinary income was ¥3,857.7 billion, ordinary profit ¥207.5 billion and net income attributable to owners of the parent ¥129.5 billion, a recovery from net income of just ¥6.0 billion the year before. In overseas insurance, the acquisition of Delphi Financial Group of the US had only just been completed in May 2012.
Initiatives
In June 2015 he announced the acquisition of HCC Insurance Holdings of the US for $78 a share, or $7.53 billion (about ¥940.0 billion), completing it that October. It brought in a specialty insurance group operating in every US state, the UK, Spain and elsewhere, and in yen terms the price was among the largest ever for an overseas acquisition by a Japanese financial institution. In 2018 and 2019, before he stepped down, major natural disasters struck Japan two years in a row.
Career
Career
Tokio Marine & Nichido Fire Insurance
| Date | Position |
|---|---|
| Apr 1975 | Joined Tokio Marine and Fire Insurance |
| Jun 2006 | Managing Executive Officer |
| Jun 2010 | Senior Managing Director |
| Jun 2012 | Executive Vice President |
| Jun 2013 | President |
| Apr 2016 | Chairman |
Tokio Marine Holdings
| Date | Position |
|---|---|
| Jun 2011 | Senior Managing Director |
| Jun 2012 | Executive Vice President |
| Jun 2013 | President |
| Jun 2019 | Chairman |
| Jun 2019 | Stepped down as President |