Brexit

In September 2017 Tokio Marine Group announced the regulatory approval process had begun to establish an insurance company in Luxembourg. Regulatory approval was then granted by the Luxembourg regulator, the Commissariat aux Assurances (CAA) and the Japanese Financial Services Authority in May 2018. The company will ensure that Tokio Marine Group will be able to continue servicing its clients in the European Economic Area (EEA) and offer a smooth transition of business as of 1 January 2019. The new operation, Tokio Marine Europe S.A.(TME) will have several branches across the European Union (EU) and will principally operate as a HCC International Insurance Company Plc (HCCI) subsidiary in partnership with Tokio Marine Kiln (TMK).

Our main aim is to make the transition as smooth as possible for our brokers and clients, and to maintain “business as usual”, contract certainty and coverage continuity.

With this new arrangement in place we are confident that we will be able to continue servicing all our brokers and clients irrespective of the outcome of the Brexit negotiations. 

This website gives you information about our plans for handling Brexit, including copies of documents associated with the legal processes, FAQs to help answer your pressing questions and latest news. 

We will continue to provide regular updates to ensure that the information you receive is up to date at all times. 

TMHCC Brexit Information

Delivering business as usual

We are working towards having the company and its future branches up and running within the second half of 2018, allowing all business to be transferred in good time. 

European business will be written by the new insurance company and all other business will continue to be processed as it currently is. TME will be supported by the existing Tokio Marine Group European and UK operations.

Our existing portfolio of policies written out of our Continental European operations will be transferred to TME via a Part VII transfer. A Part VII transfer is the process which needs to be carried out and completed by the High Court in the UK to allow the European book of insurance policies to be moved from one legal entity to another within the EU. Following a review by an independent expert and the UK regulator, for the transfer to become effective, we need to obtain a court order, resulting in the policyholders’ rights being safeguarded with the new entity.  This process has begun and subject to its full completion, we aim to have the portfolio transfer effective on 1 January 2019.

All HCCI, EEA business incepting after 1 January 2019 will be written by TME and its future EU branches.

If you have any questions or concerns, please contact us by email: brexit@tmhcc.com

Frequently Asked Questions

How is TMHCC preparing for trading after Brexit?

Has the new insurance company received a rating?

Why choose Luxembourg?

What is a part VII transfer?

How DO I Complain?

Does this affect me if i am not Uk based?

What happens if the government's plans for brexit change?

Why are you aiming for 1 January 2019 and not 29 march 2019?