Tokio Marine sees profit surge in H1
The Brazilian unit of Japan's Tokio Marine saw earnings grow 13.5% to 74.3mn reais (US$20.7mn) in the first half.
The company registered a 22% increase in premiums sold in H1, with net revenue of 1.89bn reais.
The insurer also managed to reduce sales expenses by 0.9 percentage points compared with 1H14 (18.7% versus 19.6%). As of June 30, the company's net worth was 1.02bn reais compared with 915mn reais in December.
For three consecutive years, Tokio Marine's auto portfolio has had the highest growth in the Brazilian market, and its good performance continued in the first half of 2015, outperforming the market with 26.8% growth vs 5.5%. Currently, the company is in seventh place in the sector's national ranking, according to local media reports.
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