Tokio Marine unit submits improvement plan; CEO takes pay cut

Tokio Marine Holdings (TSE:8766) announced today that its subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd., has submitted a business improvement plan to the Japan Financial Services Agency (JFSA). This action follows the business improvement order issued by the JFSA on March 24, 2025. In response to the order and to demonstrate the company’s commitment to preventing recurrence of the issues that led to the regulatory action, Tokio Marine Holdings President and Group CEO Satoru Komiya will voluntarily relinquish a portion of his executive compensation. Tokio Marine Holdings has pledged to guide Tokio Marine & Nichido in swift and effective implementation of the improvement plan and take measures at a group level to prevent any future issues. The plan aims to restore stakeholder trust and confidence.