REBRAND Change Identity Branding Businessman touching a touch screen on blurred city backgroundA subsidiary of Japanese property/casualty insurance giant Tokio Marine is rebranding with an eye on capturing more commercial business from U.S.-headquartered companies.

The unit, formerly known as Tokio Marine Management, Inc., will now be called Tokio Marine America. It has long focused on large and middle-market companies, with clients including Japanese businesses in the U.S. Now, it will expand its focus onto U.S. headquartered national and middle-market businesses, Tokio Marine explained.

“Tokio Marine America reflects our commitment to meeting the changing needs of our customers and employees,” Tokio Marine President and CEO Koki Umeda said in prepared remarks. “We look forward to maintaining the relationships we’ve built with our Japanese customers in the U.S. while expanding our services to more American businesses.”

The division employs more than 400 people in 11 U.S. cities. Tokio Marine’s American arm dates back as far as 1880, the insurer said, about a year after it gained its U.S. incorporation. Tokio Marine (Japan) launched its first U.S. branch in 1911, focused on writing Ocean Marine insurance in the U.S. That business became Tokio Marine Management in 1978, with the goal of boosting its independent business network in the United States.

Tokio Marine America now serves global businesses seeking traditional commercial multiline coverage, plus large- and middle-market companies headquartered in the United States that need risk management and standard insurance products. The division recently added middle market Inland Marine and Large Property and Casualty coverages to help boost this strategy.

Tokio Marine has focused heavily on boosting its U.S. presence. The insurer consolidated its U.S. subsidiaries in 2015, something that vaulted its U.S. Surplus lines businesses from no. 44 in 2015 to 15th place in 2015, according to an A.M. Best roundup of the sector.

Source: Tokio Marine