Tokio Marine is the foreign partner in IFFCO Tokio General Insurance, a joint venture with the Indian Farmers Fertiliser Cooperative headquartered in Gurugram. The insurer writes motor, health, property, liability and specialty cover and has a strong rural presence built on the IFFCO cooperative network.
Ownership and structure
Tokio Marine holds 49 percent of IFFCO Tokio General Insurance through Tokio Marine Asia, with the Indian Farmers Fertiliser Cooperative holding 51 percent.
What India does for Tokio Marine
India gives Tokio Marine a large general insurance business through its IFFCO Tokio joint venture, which crossed Rs 10,000 crore in gross written premium in 2023.
Investment and deals
In 2017 Tokio Marine Asia raised its stake in IFFCO Tokio from 26 percent to 49 percent by buying shares from IFFCO and Indian Potash in a deal that valued the insurer at Rs 11,000 crore.
Tokio Marine's India business
IFFCO Tokio was formed in 2000 and received its licence that year. Tokio Marine raised its stake from 26% to 49% in 2017, with IFFCO retaining 51%.
The company crossed Rs 10,000 crore in gross written premium in 2023. Its network grew past 1,000 offices across India by 2020.
Key moves in India
- 2000: IFFCO Tokio General Insurance was formed as a joint venture between IFFCO and Tokio Marine, which held 26 percent, and received its licence in December.
- 2007: IFFCO Tokio's gross written premium crossed Rs 1,000 crore.
- 2017: Tokio Marine Asia raised its stake in IFFCO Tokio from 26 percent to 49 percent.
- 2017: IFFCO Tokio's gross written premium crossed Rs 5,000 crore.
- 2020: The insurer's network passed 1,000 offices across India.
- 2023: IFFCO Tokio's gross written premium crossed Rs 10,000 crore.
Where it operates
Tokio Marine runs its India business from Gurugram.
At a glance
- Home country: Japan
- Global headquarters: Tokyo
- Sector: Banking & Financial Services
- Business: Insurance
- Role of India: Financial services franchise, Investment portfolio
- India entity: IFFCO Tokio General Insurance Company Limited
- India head office: Gurugram
- India offices: Gurugram
- India headcount: Not available
- In India since: 2000
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