California exodus of home insurance companies continues [Yahoo! Finance]
TOKIO MARINE HLDGS S/ADR (TKOMY)
NASDAQ:AMEX Investor Relations:
tokiomarinehd.com/en/ir
Company Research
Source: Yahoo! Finance
of several other companies that have cited increase costs related to wildfire risks. Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. submitted filings to the California Department of Insurance stating they will not renew 12,556 homeowners policies with a premium value of $11.3 million starting July 1. Also not being renewed are 1,624 dwelling fire and liability policies with a premium value of $1.7 million typically sold to owners of rental properties, as well as personal umbrella coverage. The companies, subsidiaries of Tokyo-based Tokio Marine Holdings, are completely exiting the homeowners marketplace. Several major insurers, meanwhile, including State Farm, Farmers and Allstate, have limited their exposure in California by cutting back on the number of new policies they issue or tightening underwriting standards. State Farm, for example, announced in March it would not renew 72,000 policies. In deciding to pull out of the so-called personal lines market, T
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News
- Tokio Marine (TKOMY) Is a Great Choice for 'Trend' Investors, Here's Why [Yahoo! Finance]Yahoo! Finance
- Tokio Marine Holdings: Poised To Benefit From Emerging Markets [Seeking Alpha]Seeking Alpha
- More insurance companies leaving California [Yahoo! Finance]Yahoo! Finance
- Sacramento fire agencies prepare for wildfire season as more insurance companies leave California [CBS News]CBS News
- California exodus of home insurance companies continues [Los Angeles Times (CA)]Los Angeles Times