Fumio Watanabe
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in 1939. He rose to Director in 1968, Managing Director in 1971, Senior Managing Director in 1975 and Executive Vice President in 1977, then became President from the vice presidency. He spent 39 years inside the company from joining to becoming President, reaching the top ten years after joining the board in 1968.
Selection
In July 1978 he moved from Executive Vice President to President, succeeding Minoru Kikuchi. Premium income for the fiscal year ended March 1978 was ¥350.2 billion. A plan to strengthen the business for 1977 to 1979 was under way, and an internal campaign dubbed Operation GoGo had begun in April 1977. While the company held first place in the industry in net premiums written, its weakness in mass-market insurance had been pointed out.
Initiatives
In fiscal 1979, its centennial year, it achieved its targets of ¥550.0 billion in premium income and a one-point gain in market share. On fiscal 1977 results it ranked sixth in the world in premiums and second in net assets after State Farm of the US. Tokio Marine set itself the goal of becoming number one in the world not only in premiums but also in quality and net assets, targeting around the year 2000. As of October 1979 its assets stood at ¥1 trillion, and it had opened 48 offices in 30 countries overseas. In 1982 it completed the industry's first online system covering all lines.
Career
Career
Tokio Marine and Fire Insurance
| Date | Position |
|---|---|
| Apr 1939 | Joined |
| 1968 | Director |
| 1971 | Managing Director |
| 1975 | Senior Managing Director |
| 1977 | Executive Vice President |
| Jul 1978 | President |
| 1984 | Chairman |
| 1984 | Stepped down as President |