August 19, 2022

Tokio Marine Holdings, Inc.

Announcement Regarding Participation in

Asian Development Bank Comprehensive Credit Insurance Program

Tokio Marine Holdings, Inc. (President and Group CEO: Satoru Komiya) announced that its subsidiary Tokio Marine & Nichido Fire Insurance Co., Ltd. (hereinafter "TMNF") and HCC Insurance Holdings, Inc. (Tokio Marine HCC, hereinafter "TMHCC") have partnered with Asian Development Bank (hereinafter "ADB") to participate in ADB's Comprehensive Credit Insurance Program aiming to solve social issues in the emerging countries in the Asia-Pacific region that are members of ADB.

(This program is a comprehensive credit insurance program, covering loans to private financial institutions in the aforementioned countries.)

1. Background and Objectives

While the Asia-Pacific region accounts for more than one-third of the world's GDP and plays an important role in the global economy, the region also faces a wide range of social issues such as poverty. ADB has been working to solve such social issues in emerging countries through providing funding, knowledge, technology, and policy analysis methodology, in line with achieving various development goals such as Sustainable Development Goals, the Paris Agreement, and other major international commitments.

Tokio Marine Group, with a collaboration between TMNF and TMHCC, one of the leading companies in specialty insurance field, has so far supported ADB by providing a credit insurance product(*1) covering ADB's loans to companies located in the emerging countries on an individual loan contract basis, which includes loans to banks providing housing loans for low-income earners and to commodity traders supporting small farmers.

Expanding on this offering, TMNF and TMHCC have agreed with ADB to provide comprehensive credit insurance coverage for ADB's loans to financial institutions in emerging countries that meet certain criteria aiming to further support ADB's efforts to solve social issues in these countries.

(*1) a type of insurance that covers losses in the event of non-payments by borrowers under loan contracts.

2. Outline of the Comprehensive Credit Insurance Program

  • This program is a comprehensive three-year credit insurance program covering ADB's loans to financial institutions, in emerging countries, which meet certain criteria predetermined and agreed among ADB and participants.
  • Five leading global insurance companies participate in this program, providing a total of US$1 billion in capacity. As the only participant headquartered in Asia, Tokio Marine Group will provide the largest share of this capacity.
  • By taking the advantage of this insurance program, ADB will be able to further promote funding to financial institutions in the emerging countries, and, at the same time, TMNF and TMHCC will enhance their ability to work to solve social issues in the Asia-Pacific region, such as providing financial services to all people, promoting gender equality, increasing job creation, and expanding access to housing, insurance, and savings.

Outline of Asian Development Bank

(1)

Company Name

Asian Development Bank (ADB)

(2)

Location of

6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines

Headquarters

(3)

Name of

Masatsugu Asakawa

President

(4)

Business

ADB is an international development finance institution targeting Asia

Overview

and the Pacific, providing a variety of assistance, including loans, to

achieve the vision of a poverty-free Asia and the Pacific region.

Along with the United States, Japan is the largest contributor to the

Ordinary Capital Resources and the largest contributor to the Asian

Development Fund.

(5)

Year of

1966

Establishment

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Disclaimer

Tokio Marine Holdings Inc. published this content on 19 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2022 01:13:03 UTC.