Genzaemon Yamamoto
Profile
Performance in office
Tenure
Tenure
Background
He joined Tokio Marine and Fire Insurance in 1930 and from 1938 worked at Manchuria Fire Insurance. After the war he returned to Tokio Marine in 1947, just after the loss of overseas assets, the requisition of the head office building and purges from public office had all hit. Apart from his nine years outside, he spent his career inside the company until becoming President in June 1966.
Selection
He became President in June 1966, succeeding Mikio Takagi. Premium income for the fiscal year ended March 1966 was ¥37.8 billion and net income ¥2.2 billion. The computer system introduced under his predecessor was mechanizing office work, and the main lines were beginning to shift from marine and fire to compulsory and voluntary auto insurance.
Initiatives
In 1967, as traffic accidents rose, one insurer after another in the industry began refusing voluntary auto insurance because it could not bear the claims payments. In April 1969 Tokio Marine launched savings-type insurance, long-term policies that combined coverage with savings. Savings-type insurance grew as personal wealth increased and later became a main line. Overseas, alongside reinsurance dealings, direct underwriting began to gain traction in Europe, the US and Southeast Asia. At the end of the 1960s direct premium income was ¥77.1 billion, and its share of the market on a direct basis exceeded 20%.
Career
Career
Tokio Marine and Fire Insurance
| Date | Position |
|---|---|
| Apr 1930 | Joined |
| 1947 | Returned |
| Jun 1966 | President |
| Jun 1972 | Chairman |
| Jun 1972 | Stepped down as President |
Manchuria Fire Insurance
| Date | Position |
|---|---|
| 1938 | Worked |