Tokio Marine has launched Tokio Marine GX (TMGX), a specialized underwriting business designed to provide insurance and risk management solutions to companies committed to decarbonization. TMGX offers up to $500 million in coverage for single risks and provides tailored policies for renewable energy, nuclear, and hydrogen risks, as well as financial products like credit and surety bonds.
Brad Irick, Managing Executive Officer and Co-Head of International at Tokio Marine, stated, “TMGX clients will benefit from our deep claims experience, holistic support, and extensive risk appetite in every facet of renewable energy and the green transition.” Irick emphasized that TMGX is backed by Tokio Marine’s significant financial resources and institutional commitment to accelerating societal progress.
Key Appointments
Fraser McLachlan has been appointed as Chairman of TMGX, while Ben Kinder, currently Chief Underwriting Officer for Marine, Energy, and Renewables at Tokio Marine HCC International (TMHCCI), will serve as Chief Underwriting Officer at TMGX in addition to his existing role.
McLachlan noted, “TMGX will harness the collective expertise from across Tokio Marine to support clients throughout their decarbonization journey.” He added that the new business aims to unlock new commercial opportunities while contributing to a greener and more resilient future.
Enhanced Capabilities
TMGX is designed to position Tokio Marine at the forefront of the green transition by providing comprehensive insurance solutions for companies embracing sustainable practices. The new underwriting arm leverages Tokio Marine’s status as one of the world’s largest insurers, offering substantial financial capacity and risk appetite.
