Mikio Takagi
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in 1923. He became a Director in 1946 and Managing Director in January 1947, spending the postwar reconstruction years, when the loss of overseas assets, the requisition of the head office building and purges from public office all came at once, on the board. He spent 34 years inside the company from joining to becoming President, rising directly from Managing Director.
Selection
In June 1957 he moved from Managing Director to President, succeeding Tokujiro Tanaka. During his predecessor's decade the company had listed on the Tokyo Stock Exchange in May 1949 and resumed direct overseas underwriting in the US in January 1956 and in Europe in May that year, getting the rebuilding of its sales network on track. At home, compulsory automobile liability insurance had gone on sale in December 1955, and the main lines were beginning to shift from marine and fire to auto.
Initiatives
In 1959 he introduced a computer system to streamline office work. Development of new lines such as credit insurance, workers' compensation insurance and liability insurance continued. His tenure coincided with rapid growth in compulsory and voluntary auto insurance, both of which suffered from high loss ratios. Direct premium income grew 16.6-fold in 15 years, from ¥9.9 billion in fiscal 1955 to ¥164.0 billion in fiscal 1970, and the mix by line flipped from marine 49% and fire 42% in fiscal 1955 to compulsory auto liability 30% and auto 23% in fiscal 1970.
Career
Career
Tokio Marine and Fire Insurance
| Date | Position |
|---|---|
| Apr 1923 | Joined |
| 1946 | Director |
| Jan 1947 | Managing Director |
| Jun 1957 | President |
| Jun 1966 | Stepped down as President |