(TMPIL) – Tokio Marine Pacific Insurance Limited has opened its new offices at the brand new Nanbo Guahan Building.
The offices are located in Suite 202, 250 Route 4, Hagåtña, which is at the intersection of Route 4 and Route 7A (O’Brien Drive). The Nanbo Guahan Building shares the intersection with the Hagåtña Public Library, the Superior Court of Guam, and Shirley’s Coffee Shop at the Agana Shopping Center.
All claims services for insurance provided by Nanbo Insurance Underwriters is available at the new location.
The Claims Service Department’s former location at the ITC Building in Tamuning is closed, as is the former location of the firm’s administrative office at Ada’s Plaza in Hagåtña.
Meanwhile, TMPI also recently received a high financial security rating, acknowledging its adequate risk-adjusted capitalization, stabilizing underwriting results as well as the explicit support it receives from its parent Tokio Marine and Nichido Fire Insurance Company.
The ratings also acknowledge TMPI’s dominant position in the group accident and health sector in Guam, primarily driven by the government of Guam account.
TMPI’s capital base has recorded substantial increases in the past five years, with its capital and surplus standing at $44.79 million at year-end 2011, which almost tripled the amount as at year-end 2007. TMPI’s risk-adjusted capitalization level supports its current ratings and it is expected to remain adequate to support the company’s business growth in the near term.
TMNF provides financial support to TMPI in the form of a deed of guarantee, catastrophe modeling and reinsurance placements.
TMPI’s investment yield remains at a relatively low level as almost its entire investment portfolio is held in cash or cash equivalents. In 2012, the company started to hold some bond exchange-traded fund investments, which is expected to diversify its investment portfolio and enhance its investment yield going forward.
TMPI is the largest insurance carrier on Guam, based on its 2011 Direct Written Premium.
