Tokio Marine Group

Sustainability Booklet
Tokio Marine Holdings, Inc.
2-6-4 Otemachi, Chiyoda-ku, Tokyo
Tel. 03-6704-7700

2023

Our Purpose

Protecting Customers andLocal Communities in Times of NeedSocial issues and risks change with the times.
We seek to remain a presence throughout these times,
supporting customers and local communities facing difficulties.
Wishing to carry on this aspiration even for the next 100 years,
we will take steady steps forward and continue to take on challenges.

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Top Message

Contents

Since our founding in 1879, protecting customers and local
communities in times of need has been our unwavering
purpose, or raison d’etre.
   We have sincerely addressed and worked to resolve

Top Message

5ever-changing social issues through our core insurance
business, based on our purpose. All employees have been
striving together under the shared belief that the more we

Our Vision

6

grow our business, the more we can make the world a better
place. With their efforts, we intend to achieve sustained
profit growth and continue to provide value to all

Tokio Marine Group’s Sustainability Activity

stakeholders, including customers, society, shareholders,

Deep-Rooted Sustainability Strategy
Eight Material Issues (Materiality) and Four Priority Issues

employees and future generations.
   Over the course of 144 years, we have grown into a
global corporate group with more than half of its profit

Our Action

12

deriving from overseas businesses. As such, whatever
happens in any part of the world, it is not someone else’s
problem for us anymore.

① Take Climate Action   Insurance is about supporting customers in times of② Improve Disaster Resilienceneed. As a corporate group engaging in the insurance③ Support People’s Healthy and Enriching Livesbusiness, we aspire to remain a presence that assists people④ Promote and Support Diversity and Inclusion

in taking on challenges even in such an environment with anuncertain future and helps society grow while we ourselvescontinue to take up the challenge of solving social issues.
Our history spanning more than 140 years has been a

Our Stakeholders

20

Our Commitments to Global Stakeholders for Creating a Futurecontinuation of solving social issues, a history createdthrough the collective efforts of employees and otherstakeholders.

What We Can Do for Future Generations   Going forward, we aim to provide customers andGlobally Expanding Projects for the Future Generationsociety with original solutions to pertinent social issues andInsurance for the Future of the Earthcreate value for various stakeholders, including future
generations. We will also work with all Group employees to

Sources of More Detailed Information on Sustainability

26

Overview of Tokio Marine Group’s Business

27

achieve the growth expected of a world-leading insurancecompany.
   Combining the aspirations and actions of individuals
and the total strengths of the Group, we aim to retain the trustof customers and local communities 100 years from now
and become a “Good Company” truly needed by them.

Our Business Activities Represent Sustainability Initiatives.
We will Contribute to the Creation of a Sustainable Society by
Resolving Social Issues through Our Business

Satoru Komiya
President and Group CEO
Tokio Marine Holdings, Inc.
4

5

Our Vision

Tokio Marine Group’s Sustainability Activity
With our Purpose as our foundation, we will bolster our human, intellectual, and social capital and create a cycle ofbusiness activities and solutions to societal challenges. This is how we will steadily refine our strengths and strategies andgalvanize our problem-solving capabilities. Through this Purpose Story, we will continue to grow for the next 100 years.
The Group We Aspire to Be

The Society We Aim to Create(Long-term vision)

A Global Insurance Group That Delivers Sustainable Growth
by Providing Safety and Security to Customers Worldwide

100 years
ahead

Eliminate
uncertainty byunderwriting risk

Detect risk andcontain damages(“pre-incident” area)(insurance business/underwriting)Global Risk Diversification
Global Integrated
Group Management

Cover damages
and encourage efforts
to tackle challenges

Quickly restore andprevent recurrence(“post-incident” area)(insurance business/payments)

Intellectual
CapitalSocial Capital

Governance
Past

Purpose6

Supporting healthy
andspiritually rich living

Changing Social Needs and Increasing Diversity andComplexity of Societal Challenges

Business Platform
Human Capital

Improvingdisaster resilience

Societal Challenges
Being Addressed
Addressing societal
challenges throughbusiness activities

Supporting
customersin their timesof needGroup Strengths

Promotingclimate action

Upward value
creation spiralBusiness Activities
Always there
for customers

A Sustainable Society in Which Everyone Can Live in
Safety and Security and Take on Any Challenge

GlobalWarming

Demographic
Changes

Rising
GeopoliticalandGeoeconomic
Risks

Rapid Progress
in DX and AI
etc.

7

Our VisionDeep-Rooted Sustainability Strategy
Solving Social Issues through Day-to-Day Work and Contributing to the Growth of Local Communities
At the heart of Tokio Marine Group’s activities lies an idea of “protecting customers and society in times of need,” which represents our purpose, or raison d’etre.
Since our founding, we have tackled a variety of ever-changing social issues based on this purpose while seeking and offering solutions unique to the Group.
Even today, our philosophy remains unchanged.
We aim to respond to key challenges, including decarbonization, a shift to renewable energy and healthcare-related measures.
We also continue reducing auto accident victims and swiftly making claims payments to those affected by natural disasters.
All of these insurance services are linked to people’s lives and lead to the resolution of social issues.
While upholding this aspiration, we will continue to improve the quality of our work and contribute to the growth of customers and local communities.

Tokio Marine Group’s Purpose“Protecting Customers and Society in Times of Need”
Underwriting and selling insurance
Non-life insurance
Providing dashcam and preventing
accidents

Claims services
Life insurance

Claims payments

Loss prevention

Providing various specialty insurance,
including D&O, cyber andrenewable energy insurance

Consultative sales based on customer
needs

More sophisticated and accelerated
claims payments

Providing loss prevention services•Support the livelihoods ofindividuals and business activities
of companies facing specific risks•Lengthen healthy lives(or shorten the period of ill health)•Quickly restore the livelihoods ofdisaster-affected customers•Fulfill finance needs•Maintain insurance program throughappropriate claims payments

Day-to-day work

•Prevent tailgating•Reduction of serious
injuries by promoting
first aid treatment•Prevent the occurrence•Reduce the spread of damage

Resolving social issues

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8

9

9

Eight Material Issues (Materiality) and
Four Priority Issues
Based on its purpose, Tokio Marine Group has specified eight material issues that the Group should address.
From among these eight issues, we also selected four priority issues on which to place a particular focus.

We selected four priority issues based on a two-axis
assessment of the eight material issues.
■ Expectations and interests of stakeholders
We conducted the assessment based on the results ofstakeholder investigations as well as the social visibility of eachof the eight issues and their integration into various ratings.

■ Importance for Tokio Marine GroupWe conducted the assessment based on the degree ofcontribution to the Group’s purpose and relevance to ourbusiness and sustainability strategies.

Expectations and interests of stakeholders

Our VisionHigh

Material issues Priority issues

● ❶
●
❷
● ❹
●
❸

●
❼

●
❺
● ❻
●
❽

Low

High

Importance for Tokio Marine Group

Eight Material Issues

Four Priority Issues

1 Take climate action
We have been pushing forward with a range ofinitiatives by positioning climate change as the mostimportant issue that should be addressed head on as aninsurance company operating businesses globally andas an institutional investor.

2 Improve disaster resilience
More frequent and intensifying natural disasters directly
threaten the safety and security of customers and local
communities, and we regard them as an urgent task totackle.
Activity examples: P. 14–15

Activity examples: P. 12–13

How the Group can contribute•Reduce CO₂ emissions from the Group’s operations andmeet RE100 criteria•R ealize carbon neutrality throughengagement with investment recipientsand corporate insurance customers•Develop and offer products and services
that contribute to the growth of renewableenergyHow the Group can contribute•Enhance readiness for natural disasters•Develop and provide products and services
useful for disaster prevention/mitigation,
early recovery, etc.
•Assist with business continuity
planning (BCP) in partnershipwith government bodies andbusinesses

3 Support people’s healthy andenriching lives

4 Promote and support diversity andinclusion

We take advantage of our strengths and respond to
customers’ needs and anxiety, which are becoming
apparent in such fields as longevity risks and asset
building.
Activity examples: P. 14–15

Supporting and observing human rights and otherinternational standards and respecting people form thefoundation for sustainable growth.

How the Group can contribute•Respond to asset building and savings needs surrounding
longevity risks (Develop and provide newhealthcare services)•Widely promote services for facilitating
Health and Productivity Management

Activity examples: P. 18–19

How the Group can contribute•Promote diversity and foster an inclusive corporate
culture•Share best practices and carry out
improvement initiatives throughout
the Group

5 Facilitate and foster innovation
through digitalization

6 Protect the natural environment

7 Provide education to children

8 Disclose highly transparent andtimely information

How the Group can contribute

How the Group can contribute

How the Group can contribute

How the Group can contribute•Use digital data in a more sophisticated manner to cover
new risks and provide security to customers before andafter events in ways besides insurance payments•Conserve biodiversity and wetlands through activities suchas mangrove reforestation and marine protection efforts
and achieve carbon neutrality•Address increasing cyber risks amid digital advancements•Promote social contribution activities•Use digitalization to support small and medium-sizedenterprises (SMEs)•Green Lessons, Disaster Prevention Lessons•Financial and insurance literacy education program•Junior internship program•Junior Advisory Board•Hold themed presentation “Tokio Marine Group’sContribution and Growth Strategy in the Renewable
Energy Market”•Revise our “Basic Approach to Climate Change”•Release the TCFD Report and Human Capital Report•Improve business efficiency with digital technology

1011

Our Action

1

Take Climate Action

Tokio Marine & Nichido

Climate change is a critical global issue that threatens the security and safety of customers and society. It also
affects the insurance industry directly. Therefore, Tokio Marine Group has been pushing forward with a range
of initiatives by positioning climate change as the most important issue that should be addressed head on as
an insurance company operating businesses globally and as an institutional investor. At the same time,
regarding it as a business opportunity for achieving growth, we are working to provide insurance productsthat drive the widespread use of renewable energy and promote a circular economy through insurance.

GCube


TakingRenewable Energy Businesses to the World Global
through Insurance

The global trend toward decarbonization and the shift
to renewable energy in major countries is progressing.
Our group has acquired GCube, a leading insurancecompany for renewable energy companies, and is
promoting the spread of renewable energy on a global
basis by underwriting insurance and paying insurance
claims without interruption from the time of marinetransportation through construction to the time ofoperation, based on its advanced underwriting andunique claims servicing capabilities.

Leading Penetration in Emerging Countries with World-Class Achievements and Conviction
GCube has been providing insurance specifically forrenewable energy businesses since the 1990s. When thecompany was founded, the renewable energy market itself
was still in its infancy, and there was not a lot of demandfor insurance products in the sector. Nevertheless, we werefirm believers in renewable energy technology andnurtured the business to where it is today and now have 8of the top 10 global renewable energy companies asclients. We offer added value to our customers byleveraging the vast amount of claims and performancedata we have accumulated since our founding and sharing
it with our valued clients.
   GCube currently supports over 2,000 projects in 38
countries. This includes operations in emerging markets andalso more established markets like Europe and the U.S.A.
As the effects of climate change become more pronounced
and the sustainability of fossil fuel energy sources isincreasingly being questioned, our mission is to support the
future growth of renewables globally. Tokio Marine Group
believes in renewable energy, with the aim of contributing
to the world’s net zero target from 2050.

Fraser McLachlan

Chief Executive Officer
GCube

Claims services capabilities
supporting earlier recovery

1212* Of the 400 insurance claims madeeach year, 97% receive insurance
payments within seven days from theday on which the loss is verified.

Percentage of insurance
payments made withinseven days from the loss
occurrence*

97％

Promoting a Circular Economy through Insurance

Achieving carbon neutrality requires the transition to a circular
economy. Tokio Marine Group engages in the development ofsolutions that will facilitate such a transition while leveraging its
unique position as an insurance company, namely, being able togather various loss information from across society. Efforts geared
toward helping resolve social issues include developing an
insurance product that covers the costs of collecting, transporting
and recycling damaged products to circulate them as resources
instead of discarding them, in addition to building an ecosystem toencourage resource circulation.

Damaged during transportation or storage
Generator of wasted productsCollect damaged products(recycling cost and collecting/transporting costs)
Insurance
policyPay insurance andmake referral to
JEPLAN
Tie-up

Building a New Collection and Circulation Platform through Project Activities
Ueno: The team is made up of members who have applied
for the project through an internal system, and we usuallywork in different offices. The theme of promoting thetransition to a circular economy with insurance came up
while discussing how to solve social issues through our
insurance business. With original and new members, wehave consistently been addressing it for the past two years.
  A circular economy involves many concepts, such as
resource circulation and longer product life. We aredeveloping insurance that will facilitate resource circulation inparticular. Generally, insurance covers the costs of discarding
products damaged during distribution. To match today’s trend,
we have instead aimed for insurance that will encourage
circulation, not disposal, of such products. As part of theeffort, we have concluded a business tie-up with JEPLAN,
INC., a company commercializing its original chemical
recycling technology for polyethylene terephthalate (PET)
used in clothing and plastic bottles. We have been working toprovide recycling-focused insurance and a collection andcirculation system and expand a resource circulation networkby utilizing offices and stores of agents and customers.
Shimo: Our department deals with manufacturers of daily
necessities and consumer goods, and we asked them, who
are so-called generators of wasted products, about
resource circulation needs and associated issues to create adisposal document package. We concentrated on gaining
their understanding as to why an insurance company isstriving for a circular economy, and at the same time, cameto know about a broad range of issues, which we would
not have on our own.
Ishimasa: As she said, our department is in charge ofcustomers in the chemical industry, so we asked them aboutchemical recycling and other new technologies. We arebuilding an ecosystem that combines our compilation ofloss information and technologies of our customers, who
are recyclers. For example, we started verification testingfor setting up a scheme for collecting and recycling wastematerials from end-of-life vehicles jointly with ABT
Corporation of the Mitsubishi Chemical Group. As an
insurance company, Tokio Marine’s involvement in thisproject was received with astonishment both internally andexternally. We hope to increase similar activities in the
future as well.
Shiomi: Because a circular economy encompasses a broad
range of concepts not fully comprehended even among ourstaff, we started out with activities to publicize it internally.
We also conducted an in-house event jointly with JEPLAN
to collect old clothing from employees to make original
shopping bags. Based on this experience, we installed
clothes donation boxes in agent offices and customer stores.
I see a great ripple effect of the activity throughout society
with our customers and agents serving as hubs. This will inturn encourage more people to visit these donation spots andthus promote communication with local community members.
Iwase: To publicize our activities externally, we worked
with local branches to join the Messe Nagoya trade fair andhost an SDGs-themed event in our company building. Also,
as recycling plastic bottles using JEPLAN’s chemical recycling
technology is a topic of great interest for local governments,
we have been approaching them and gaining their support.
In the future, we expect to expand this initiative nationwide.
Ueno: The transition to a circular economy has also
become an important priority issue among customers. We
need to tackle it not simply as a sustainability-related
measure but through a collaborative effort among various
companies to turn it into an economic activity. We will moveahead with building an ecosystem while collecting feedback
from supporting companies and local governments
regarding what insurance and solutions are needed.

(From left)
Tokio Marine & Nichido Fire Insurance Co., Ltd.

Yuka Shiomi

Masahiko Iwase

Yuta Ishimasa

Mayu Shimo

Osaka Auto Insurance Sales Dept. 1 Fukuoka Branch
Chemical Industry Sales Dept.

Chemical Industry Sales Dept.

Yuha Ueno

Marine Operation Dept.

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Our Action

2

Improve Disaster Resilience

Tokio Marine & Nichido Drive Agent Personal (DAP) to Protect Lives

Climate change has increased the severity of natural disasters, greatly affecting society and the economy. For
Tokio Marine Group, whose home market is Japan, one of the most disaster-prone countries in the world,
improving disaster resilience by resolving disaster issues and mitigating the damage from disasters is a criticalarea where its raison d’etre is strongly called into question. Tokio Marine Group aims to go beyond merely
paying insurance claims in the event of an emergency and transform into a company that supports its customers
at all times. We will do this by providing peace of mind before and after an emergency, such as preventing
emergencies, reducing burdens when an emergency occurs, supporting quick restoration and preventing therecurrence of emergencies.

Tokio Marine & Nichido

Accelerating and Increasing the Sophistication of Claims Payments

In fiscal 2022, Tokio Marine & Nichido introduced a system to automate theprocess from receiving loss reports to notifying the amounts of claims
payments for certain claims for natural disasters. Automatically going
through the claims filing procedures for disaster-affected customers, thesystem has allowed us to make insurance claims payments sooner than theconventional method. Moreover, the automation has eliminated someclerical work and allowed us to deal with customers in a more detailed
manner when in-person response is required. Utilizing the best mix ofpeople’s ability and digitalization, we will strive for even earlier restoration of
the livelihoods and business activities of disaster-affected customers.

HollardThe “New DAP Tool” embodies our aspiration to protect as
many lives as possible and is designed to demonstrate thevalue of DAP.
   The tool uses the sound, voice and video of an actual
accident on a snowy road and allows the viewers to“experience” the terror and the intensity of the situation until
they are rescued. We are promoting its use mainly in study
sessions with agents and corporate customers.
   DAP features the three functional services ofsophisticated accident response, accident prevention supportand safe driving diagnosis. It is unique to Tokio Marine &Nichido, a company solving social issues. Going ahead, we
hope that our sales and claims services departments, as well
as agents, will cooperate to make DAP known broadly insociety and that the increased recognition will help us
achieve Tokio Marine Group’s purpose.

In South Africa, non-life insurance coverage is notwidespread and is significantly lower than life insurance
coverage, particularly among low-income people. Partof the reason behind this is price, but the biggest
challenge is that the way insurance works is often notunderstood or trusted. We're working with disasterprevention company Lumkani to change that by selling
embedded insurance in combination with the rental of
an innovative fire alarm. Through local agents, we aim
to communicate the value of insurance correctly, gain
trust and ensure that insurance essential to overcoming
disasters takes root steadily.

Across South Africa, an estimated four million families live indensely populated low-income communities. Lumkani hasdeveloped a fire alarm system for these communities because
if a fire starts there, it will spread quickly and take lives andlivelihoods. When our system detects a fire, all alarms inneighboring homes in the settlement ring together, creating acommunity-wide call to action. The fire is also reported tocustomers by an SMS. Data shows that, as a result of
encouraging early extinguishing, the spread of fire wasprevented by 95%. Additionally, as two thirds of Lumkani’s
customers are single-mother households, we hire these women
mostly as agents. They communicate with customers in theirhome language and thus help to educate customers and build
trust, which will ultimately promote
the widespread use of the product.

Deanne Bezuidenhout

Francois Petousis
CEO
LumkaniCreating 320 jobs, of which 284 are agents

Emiko Obara
Morioka Branch
Tokio Marine & Nichido Fire
Insurance Co., Ltd.

Our agents and customers have commented that with a variety offeatures, DAP is unparalleled by other dashcams and is their first
choice of offer to customers. The appeal of the New DAP Tool isbeing promoted not just in Tohoku but also across all branches.
After the 2011 major earthquake, we regretted that we shouldhave recommended earthquake insurance more strongly tocustomers. We do not want to feel that way again. We will spreadthe use of DAP, which protects customers’ lives in auto accidents,
in an effort to build a society highly resilient to disasters.

Creating Jobs While Protecting Lives andLivelihoods

Head of ESG
Hollard14

Fire alarm

Yohei Inoue
Tohoku Claims Services Dept.
Tokio Marine & Nichido Fire
Insurance Co., Ltd.

For Building a Society Highly Resilient to Disasters

Fire Insurance and Fire Alarms for Low-Income Communities

To Spread the Value of Insurance Correctly

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Integrating an Aspiration to Protect Lives into the Tool

* DAP is a telematic service that utilizes an original dashcam with
communication functionality lent by Tokio Marine & Nichido

オペレーターとの通話

DAPが録画した事故動画

これは実際に起きた、雪道事故の映像と通話音声です。
DAPがなかったら、どうなっていたのでしょうか・・・

Wishing to Protect Customers’ Enriching Lives with DAP
Yohei Nakatogawa
President
Ozawa-Shokai Ltd.
(Tokio Marine &Nichido agent)

FICOH

After viewing videos provided by the New DAP Tool, awareness as an agent has increased
drastically. They are full of enthusiasm to protect lives with DAP. This enthusiasm iscontagious, and many customers have added DAP to their insurance, the percentage of
which is nearly twice the average in the region. Promoting the widespread use of DAP isalso consistent with our corporate philosophy of continuously taking up challenges for moreenriching lives. With our ongoing effort to spread the use of DAP, we intend to support
customers’ enriching lives.

Enhanced Condominium Sustainability throughIndustry-Academia Collaboration

In Hawaii, aging condominiums have been increasing in number, resulting in more
accidents such as water leaks due to a lack of proper management and becoming a social
issue. In January 2023, First Insurance Company of Hawaii, Ltd. (FICOH) started providing
a practical course in the analysis of its root causes and the development of solutions incollaboration with a local university while conducting research to improve maintenance.
The company has also developed a web platform for training and information sharing toenable building managers to prevent water leaks. FICOH seeks to resolve social issues by
proposing solutions to prevent accidents via industry-academia collaboration.

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Our Action

3

Support People’s Healthy and Enriching Lives

In Japan, there is a noticeable decline in the birth rate along with a rapidly aging population. Consequently,
tackling healthcare concerns and meeting the growing needs for elderly care and health have become
increasingly crucial. As an insurance company covering disease and illness through life and non-life insurance
products, Tokio Marine Group aims to leverage its extensive expertise to offer high value-added products andservices. With these initiatives, the Group will contribute to solving social issues, such as extending healthy life
and asset life, as well as support a healthy and an enriching living.

TMHCC Insurance Policies That Support the Challenge and Growth of SMEs
Small and medium-sized enterprise

Diagram of
Surety Bonds

Surety consignment
contract

Supporting SMEs with Strong Local Roots
Tokio Marine & Nichido Life InsuranceP romoting Medical Insurance That Supports
Healthy Living

In anticipation of the era of 100-year life, Tokio Marine & Nichido
Life Insurance (TMNL) is sincerely addressing customer issues
and social challenges, including the growing elderly population,
the advancement of medical technologies (presymptomatic/
preventive healthcare) and asset building for a long retirement
period. TMNL is also using advanced technologies to provide
innovative products and services unique to the company. In
August 2023, TMNL launched the industry’s first medical
insurance product and service supporting healthy living, which
covers eight lifestyle-related diseases* likely to require
prolonged treatment. The coverage starts from outpatient
treatment regardless of whether hospitalization is required.

Tokio Marine HCC, a specialty insurance company
worldwide, also offers a number of products for small
and medium-sized businesses. One of them is surety.
We help small businesses, as well as large companies,
enter into large-scale projects by ensuring that small
and medium-sized businesses fulfill their contracts andobligations. It is not in the spirit of volunteerism that
we take on the guarantee of small businesses, but
because we believe in their capabilities and we knowthat they create jobs and bring prosperity to ourcommunities. We will continue to support the growthof small and medium-sized enterprises that are rooted
in the region and aim to develop them together.

Project contract

Insurance company

Project owner

Surety contract
The insurance company compensates the project
owner for losses if an SME defaults due to bankruptcy, etc.

No. 1 Warranty Underwriter for 25
Consecutive Years
When small businesses bid on projects in the United States, it iscommon to obtain support from surety bond providers, like Tokio
Marine HCC. The U.S. Small Business Administration (SBA) assists
small businesses in obtaining surety bonds by entering into
arrangements with surety bond providers. Tokio Marine HCC
actively underwrites surety bonds subject to SBA guarantees andhas been the No. 1 warranty underwriter for 25 consecutive years.
The success for us is that small businesses get their first public works
orders, and then a few years later, they “graduate” from the SBA
or grow to the point where they no longer need SBA support.
About 12 companies graduate from the SBA annually, and we arecommitted to creating these happy cases in every region.

*1. C ancer (malignant neoplasm and carcinoma in situ), 2. specific heart diseases, 3. specificcerebrovascular diseases, 4. aortic aneurysm and dissecting aneurysm, 5. specific liver diseases,
6. specific kidney diseases, 7. pancreatitis and 8. three major diabetes complications.

Proposal Campaign to Protect Customers from the Risks Related to Long-Term Care
In Japan, the San’in region faces a particularly serious
population decline and the aging of its population. We
have found that our customers are dealing with the issue of
not being adequately prepared for long-term care. In
response to this social issue, we have launched a newproposal campaign to protect customers from risks related
to long-term care to provide peace of mind through life

insurance. We first worked in cooperation with employeesof life and non-life insurance companies, as well as local
agents, to raise awareness of long-term care. As a result,people started choosing long-term care insurance products
as one way to be prepared. In this campaign, we are also
carrying out activities that go beyond the normal scope of
our jobs in the insurance business, such as donations tolocal hospitals matched to the number of long-term careinsurance policies purchased. We will continue to take on
the challenge of solving social issues in the era of 100-year
life by working with the employees of life and non-life
insurance companies and local agents.

Total number of long-term care insurance policies purchased
at the San’in Life Insurance Branch
May–June 2022

Campaign to protect
customers in the
medical insurance
category

Terukazu Yoshizawa
San’in Life Insurance Branch,
Chugoku/Shikoku Sales Dept.
Tokio
16 Marine & Nichido Life Insurance Co., Ltd.

16

208
policies

22

policies
Apr. 2022

Jan. 2023

Adam Pessin

Frank Mester

President and Chief Executive Officer
Tokio Marine HCC Surety Group

Executive Vice President
Tokio Marine HCC Surety GroupTMNCH

 eveloping New Products and Services through a HealthD
Promotion Consortium

The Tokio Marine & Nichido Fire Insurance Company (China) Limited(TMNCH) formed a health promotion consortium with major home electronics
manufacturer Panasonic Electric Equipment (China) Co., Ltd. and medical
device manufacturer OMRON (China) Co., Ltd. to develop insurance products
and services relating to health and medical care. The goal of the consortium
is to facilitate the growth of the health, medical care, elder care and insurance
service domains in a cross-industry manner through co-creation by Japaneseand Chinese companies. It is also aimed at contributing to the resolution ofsocial issues in China, such as the Healthy China 2030 national policy and theaging population. Currently, the consortium is implementing the following
projects, with more products and services on the way.
[Smart Town] Providing health promotion-type insurance products and services to residents of wellness smart towns developed by Panasonic[Health & productivity management] Visualizing health data and providing health promotion services to employees of Japanese-affiliatedcompanies in accordance with their health condition17

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Our Action

4

Promote and Support Diversity and Inclusion

Tokio Marine Group has been enhancing its initiatives by positioning the promotion and penetration of D&I as
a key success factor for further growth in an uncertain environment and market. As social issues become
increasingly complex and risks grow diverse, it is essential that individual employees with diverse values areable to maximize their motivation and abilities regardless of their gender, age, nationality or disability in ourcollective efforts to improve the quality of our products and services provided to customers around the world.

Group

Career College Supporting Female Employees across the Group

Tokio Marine Group Women’s Career College(TWCC) is a career college for female employees of
Tokio Marine Group companies in Japan designedwith two purposes. One is to provide the opportunity
for individual employees to think about their own
careers and lead them to self-development andbehavioral change. The other is to build a network
unique to Tokio Marine Group and enable willing
participants to motivate each other. The in-house
open-application program allows female employees
to voluntarily participate in their own initiatives.

92.4%
TWCC participantsatisfaction(cumulative fiscal
2019–2022)

Becoming Aware of One’s Own Growth Potential to Change the Course of the Future for
Each Employee and the Company
I joined TWCC because I felt there was so much that I did not know about operational
efficiency and communication skills. I also wanted to broaden my perspective. There weretimes when I wasn’t sure what I was doing, but I did not ask anyone and let it pass. I wanted
to change that mindset, so I joined TWCC seeking opportunities to change myself and bringchanges to the workplace. Participating in TWCC and communicating with members fromvarious backgrounds allowed me to broaden my perspective beyond my workplace to theentire company and beyond the company to society as a whole. I have also become confident
in my opinions. At TWCC, I learned the importance of being myself and thinking freely andrealized that my actions and words could benefit the company, which would lead to social
contribution. Joining TWCC led me to think about how I could contribute to the company. It
helped me realize the many opportunities to connect with people and grow, which is one of
the greatest benefits of the program. When taking on a challenge or taking a new step
forward, it’s encouraging to know that I have colleagues with the same goals. I believe what
we learn at TWCC could ultimately lead to a change in the mindset of the entire company.

PURE

Black and African-American Employee Resource Group

Creating Future Employment Opportunities for African Americans through the Employee
Resource Group
The Black and African-American Employee Resource Group (BAAERG), which I
serve as the president, is an employee resource group within PHLY. We areengaged in a variety of internal and external activities, which aim to build asociety where current PHLY employees, as well as African Americans who may
join PHLY in the future, can maximize their potential and play an active role inthe company. For example, during Black History Month in February, we held acompany-wide event with experts in DE&I (Diversity Equity & Inclusion) and
African-American history.
   BAAERG's current focus is on contributing to the employment and careerdevelopment of African Americans. In April 2023, representatives from our ERG
and the DEI Council attended a career fair at Delaware State University, aHistorically Black College and University, which marked the first time PHLY wasrepresented at the annual event. The career fair was for seniors and rising
juniors to explore potential job opportunities in a variety of fields. What’s
important to note is that many of the students were unaware of career
opportunities within the insurance industry prior to attending the career fair.
Our representatives were able to meet with students and provide examples ofcareers in the industry that aligned with their field of study. This was a significant
achievement for our group, as this participation has resulted in 130 resumes
being sent to PHLY for potential career opportunities.
   Other efforts to expand employment opportunities include a partnershipwith Florida State University, where employees volunteer to mentor students,
and actively participate in virtual job fairs mainly for African Americans.
   Since its inception, BAAERG has steadily increased its internal and external
influence. Through its unique activities, BAAERG will continue to strive to create
a diverse and inclusive society.

Shelly Davis
Sr. Training Specialist
Human Resources
Philadelphia Insurance Companies

Ayako Tamiya
Kanto Division 1
Nisshin Fire &Marine Insurance Co., Ltd.

ERG activities

U.S.-based PURE wants employees to be passionate about
their jobs, devoted to the company and proactively
committed to their work, and it believes that employees
perform best in an environment where they are respected
and treated fairly and equally.
   Employee Resource Groups (ERG) are independent,
employee-operated entities founded in each region since2021. They operate as resources for the company to makedecisions on policy and community issues while
simultaneously advancing the following initiatives to build
a diverse
and inclusive organization.
18

18

PHLY

PURE United (Ally)

PURO Orgullo (Hispanic & Latinx)

Raises employee awareness and fosters a sense of unity by listening to
feedback from the local community on company activities and promoting
solidarity with marginalized groups.

Promotes individual and professional growth for members by creating an environmentthat supports PURE’s Hispanic and Latinx community.

Asian & Pacific Islander ERG

Provides a venue for members who share a common purpose to achieve their ideas
and foster individuality through communal participation, cultural literacy and skill
development.

Creates a community for employees of Asian and Pacific Islander descentand provides a venue where members can mutually recognize common
traits and different viewpoints in a psychologically safe environment andgrow together.

PURE (LGBQTIA+)
Raises awareness for the respect of LGBQTIA+ people, promotes growthand ensures equality.

The BERG (Black ERG)

Women’s Leadership Council
Creates a network and support system where competent female members collectively
enhance their skills while strengthening collaboration and multiculturalism and thecommunity.
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19

Our Stakeholders

Our Commitments to Global Stakeholders for
Creating a Future Together
In creating a better future together with people around the world, Tokio Marine Group has positioned“customers,” “society,” “shareholders and investors,” “employees” and “future generations” as stakeholders.
We have clarified what value to provide to each stakeholder and have been making efforts accordingly.

Customers

Employees

Contribute to making customers’ lives healthy andenriching through products that provide security andassistance with future-oriented challenges

Help employees reach their highest potential throughengagement and opportunities for them to thrive

What We Can Do for Future Generations
Based on the strong belief that “it is our duty to pass on a bright future to the next generation,” Tokio Marine
Group has clearly positioned “future generations” as a stakeholder. In fiscal 2022, we established a crossfunctional global task force and identified three key themes and five priority initiatives. We are accelerating
our initiatives to mitigate climate change and conserve biodiversity, as well as to support children and young
generations to take up the challenge of shaping their own future.

Three key themes

Five priority initiatives
Conservation of biodiversity and disclosureof information on natural capital (plantingof mangrove trees and other reforestation
efforts, restoration of eelgrass beds)

Restoration of natural capitaland response to climatechange→ See pp. 24–25 for details.

Investment in natural capital (ESG investment andfinancing) (impact investment targeting natural
capital, promotion of general business investment
and financial products)

Tokio Marine Group

Future Generations

Shareholders andInvestors

Educational support for children and students
and industry-academia collaboration (conducting
educational classes and fostering talent throughcollaboration with educational institutions)

Nurturing the leaders of
tomorrow
Support for participation in business activities(providing opportunities for high school students towork as interns and young employees to participate
in management)

Society
Contribute to building a sustainable society that can overcome any challenge and ensure the safety and security

Local communities

External initiatives,
organizations, governments
20

20

Research institutions

Media

Supporting the transition to acircular economy

Support for waste reduction and recycling throughinsurance (promoting recycling and reuse ofdamaged goods through property insurance)
21

21

Our Stakeholders

Globally Expanding Projects for the Future
Generation
Tokio Marine Group is promoting projects around the world to pass on the irreplaceable global environment
to the next generation and support the challenges of every child and person of the future generation.

80K Trees (U.S.A.)

Reverse Mentoring (UK)Throughout the United States, record wildfires,storms and other natural disasters have destroyed
millions of trees in forests in recent years.
Philadelphia Insurance Companies (PHLY) continues
to partner with the Arbor Day Foundation throughthe “80K Trees” tree planting program since 2015.
Over these years, this initiative has provided fundingfor over 500,000 trees. PHLY employees also
volunteer their time to plant trees in theircommunities.

With the support of the School for CEOs, Tokio
Marine Kiln (TMK) introduced the Reverse Mentoring
program on a trial basis. In this program, the rolesof supervisor and young employees are reversed,
and young employees become mentors to give
advice to their supervisors. Project participants
voiced comments such as that they have increased
their interest in and knowledge of diversity andinclusion and that they have become more aware of
how they are regarded within the organization.

Disaster Prevention Lessons(Japan, China, Indonesia, Vietnam, etc.)
Employee volunteers, including agents, have been
conducting Disaster Prevention Lessons since 2012 tohelp children prepare for a disaster. Similar lessons
are also provided overseas, including China,
Indonesia, Turkey and Vietnam, based on educationmaterials that take into account the characteristics ofdisasters in their respective countries so that theselessons appeal to children to encourage theirlearning.

Junior Advisory Board (Japan)
In 2022, Tokio Marine & Nichido hosted a meetingof the Junior Advisory Board as an opportunity tointeract with high school students. During themeeting, 10 of them served as junior advisors tohold discussions and presentations on such themes
as values we should cherish in our work, how to
cultivate a sense of inclusiveness while increasing
diversity and ways for Tokio Marine & Nichido to
attract even more customers.

Voices of participants
Voice of participant:“Now I understand the need to decide where to meet withmy family when a disaster occurs.”“It was a good experience that we had a serious discussion
about working.” “The event triggered my interest in
insurance.”

Voice of school teacher:“I believe it is extremely crucial to gain correct knowledge
on disasters, be aware of what we should do and cultivate
an ability to make appropriate judgment.”

Brazilian Seed (Brazil)
Tokio Marine Seguradora S.A (TMSR) runs the Brazilian Seed
program to provide educational opportunities to young people
experiencing social and economic difficulties and help them findemployment. Many TMSR employees volunteer to be mentors
and teach young orphans while providing mental support andadvice about work and life. The majority of the young people
who completed the program found jobs and are playing vitalroles in society.

Voice of youth participants“The course helped me discover my personalvalues and learn how to empathize withothers.”

Voice of TMSR mentor
22

22“I would like to thank you for the opportunity
to participate in a project that provides
opportunities and changes their realities.”

Donating Food and Reducing Food
Waste (Singapore)
StreetWise Finance (South Africa)
In 2011, the Hollard Insurance Group developed
StreetWise Finance, a financial and insurance
literacy education program designed to teach basic
financial management skills. Employee volunteers
serve as lecturers to run the program with a focus on“how to plan a budget,” “methods to manage
savings, bank transactions and loan options,”“benefits of insurance” and “post-retirement life
plan.” The program has been conducted free ofcharge in rural communities in South Africa, with theparticipation of roughly 170,000 persons to date (asof June 30, 2023).

In 2022, Tokio Marine Asia (TMAsia) and TM Claims
Service Asia (TMiS) developed, jointly with major
food companies, a system to promote food donation
and reduce food waste by utilizing cargo insurance.
Food products become unsellable if their outer
packaging is damaged or tainted duringtransportation. The two companies have developed
a rider that allows loss adjusters to declare suchproducts are a total loss regardless of their residual
value on the condition that they will be donated, andcompensates for the costs of transportation towarehouses and the costs of handling food
donations.
Food banks

Compensating for thecosts of transportation
to warehouses and thecosts of handling food
donation

Food producers

TMAsia and TMiS
Establishing
donation routes
and expanding
opportunities

Transportation operators

Food distributors

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23

Our Stakeholders

Insurance for the Future of the Earth
The ocean, which is the origin of life and nurtures diverse ecosystems, is now exposed to climate change andmarine pollution. It also faces a variety of issues, including a rise in seawater temperature, ocean acidification,
plastic waste, declining oxygen levels and depletion of marine resources. To responsibly make efforts to help
resolve these issues over the long term, Tokio Marine Group is undertaking activities to plant mangroves andprotect and restore eelgrass beds under the concept of “insurance for the future of the Earth.”

Activities to Plant Mangroves

Activities to Protect and Restore Eelgrass Beds

Roles of Mangrove Forests

What Is Eelgrass, Known as “Cradles in
the Sea”?

Mangroves have an excellent ability to absorb and store
CO₂, a major cause of global warming, and their CO₂
retaining capacity is said to equal that of tropicalrainforests. They are also called “cradles of life” as they
provide habitats for fish and other creatures with theirintertwining roots under the water, attract animals above
the water and bring various fishery and forest resources topeople living near them. Moreover, mangrove forests
serve as natural levees for their capacity to mitigate
damage caused by tsunamis and high tides.

Eelgrass is a seaweed that thrives in shallow, sandy areas
with gentle waves and sunlight, and spots where eelgrass
grows are called eelgrass beds. It grows while absorbing
CO₂ dissolved in seawater through photosynthesis andsinks to the sea floor when it dies, where it becomes part ofthe sediment and retains carbon for a long time.
Additionally, eelgrass beds are called “cradles in the sea”
as they serve as sites for fish to lay eggs and young fish to
grow. Their additional effects, such as the purification ofwater and the protection of biodiversity, have also drawn
much attention.

For Protecting Rich Ecosystems andPeople’s Lives

Efforts to Protect and Grow Eelgrass

Planting mangroves translates to preserving rich
ecosystems, bringing bountiful marine resources to people
living in coastal areas and protecting their lives fromtsunamis and other disasters. Tokio Marine Group has
been undertaking mangrove planting since 1999.
Currently, Tokio Marine Group employees, agents andretired employees as well as their families volunteer toplant mangroves in nine countries around the world, thus
contributing to the protection of ecosystems and people’s
lives in coastal areas.

Impact of Mangrove Planting (Fiscal 2022)

Achieving Carbon Neutrality for 10 Consecutive Years Since 2013

Offsetting CO₂ from Business Activities■ Fiscal 2022 Results

The annual amount of CO₂ absorption and fixation
through mangrove forests we have planted was 93,000
tons in fiscal 2022, surpassing CO₂ emissions from Tokio
Marine Group’s business activities.
* Information on CO₂ emissions from energy usage and other relevant information
are subject to a third-party guarantee by Ernst & Young ShinNihon LLC. We
requested the Central Research Institute of Electric Power Industry (CRIEPI) toevaluate and calculate the amount of CO₂ absorption and fixation throughmangrove trees and received the evaluation report. Further, the main calculation
processes used in the report have been confirmed by Ernst & Young ShinNihon LLC.

Economic Value
Improved productivity of fisheryproducts, reduced damage from24
natural disasters,
etc.

24

Cumulative total of

118.5

billion yen

CO₂ emissions

80,201tGas, gasoline
and others

Scope 1 Direct emissions
Scope 2 Indirect emissions

Electricity
and others

Paper, businesstravel andothersIncluding the reduction
effect of purchasing green
power, etc.

Scope 3 Other

Following mangrove planting overseas, we embarked on
full-fledged environmental protection activities in Japan in
October 2022. As one example, we are working with the
NPO Association for Shore Environment Creation to protect
and restore eelgrass beds in Tokyo Bay. In November
2022, about 100 members, including Group employees,
agents and their families, participated in an event toscatter eelgrass seeds in Rinko Park in the Minato Mirai
District, Yokohama. A similar effort has already beenlaunched in Hakata Bay, Fukuoka Prefecture, and we plan
to expand this initiative to other areas as well.

CO₂ absorption and fixation
volume93,000 t

CO₂ fixation and reduction
through mangrove forests

Voice of an Organization Protecting
Eelgrass Beds

Voice of a Participant
I participated in the event with mycolleagues in the hope of passing down
the clean sea in Yokohama, where I work,
to future generations. It was a valuable
experience that we helped to achieve theUN’s SDG to protect “life below water.” I
also learned that eelgrass is drawing
attention in the context of blue carbon,
which means to capture CO2 in marine
systems. Next time, I hope to bring mychild and learn about biodiversity andglobal warming through the experience.

Tomoko Saito
Yokohama Central
Branch,Tokio Marine & Nichido
Fire Insurance Co., Ltd.

Activities to protect and restore
eelgrass beds have served both tofoster a nature-rich underwater world
and a connection among various
people. I believe that our aspiration toprotect the sea will expand globallyand enable us to pass on the Earth fullof lives to future generations. Let’s
imagine lush eelgrass beds under thewater and think about the future of the
Earth together!

Kotaro Ogami
General Incorporated
Association Fukuoka FUN

25

25

Sources of More Detailed Information on Sustainability
In addition to this Sustainability Booklet, we provide information through various means, including our website andthe Sustainability Report, as an effort to enhance communication with all of our stakeholders. Please refer to thefollowing for more detailed information on sustainability.

Overview of Tokio Marine Group’s Business
Four business domains

Domestic insurance business

Domestic life insurance business

International insurance business

Finance and other business

Sustainability Website
The website showcases an overall picture of Tokio Marine Group’s
sustainability activities, also providing the latest topics and video content.

https://www.tokiomarinehd.com/en/sustainability/

Sustainability Report
Operating business globally
This report describes in detail our approach and strategies concerning sustainability, with a focus on initiatives undertaken

Network spanning Japan and overseas

in relation to the eight material issues and four priority issues, along with relevant data.

Profit composition by region*

Tokio Marine Holdings Sustainability Report 2023

https://www.tokiomarinehd.com/en/sustainability/pdf/sustainability_web_2023.pdf
Overseas

54%
Operating business inJapan and2023

Number of Group companies
Subsidiaries

2023
2023
Integrated
Integrated
AnnualAnnualReport
ReportAffiliates

268

Domestic46%* Calculated based on profit by business segment (initial plan)46 other countries and regions

SUSTAINABILITYREPORTFY2023

Number of employees (as of March 31, 2023)

Approx. 43,000 persons

26

Domestic

Approx. 25,000

Overseas

Approx. 18,000

ESG assessment (as of August 31, 2023)

Integrated Annual Report

Selected for

14

Health &Productivity stock

MSCI

AA

CDP

DX Stock

2

DJSI

consecutive years

Selected for

8

consecutive years

PRIDE Index

Gold rating(Tokio Marine &Nichido)We issue the Integrated Annual Report to facilitate a balanced understanding, both interms of financial and non-financial aspects, of our capabilities to sustainably create value
among analysts and institutional investors. The report also provides a detailed description
Tokiwabashi
Tokiwabashi
Tower 2-6-4
Tower 2-6-4

of our sustainability activities integral to our business activities.

Otemachi,Otemachi,
Chiyoda-ku,
Chiyoda-ku,
Tokyo 100-0004,
Tokyo 100-0004,
Japan
Japan
Tel: +81-3-6704-4547
Tel: +81-3-6704-4547

A-This productThis
is productmade ofismaterial
made offrom
material
well-managed,
from well-managed,-certiﬁed
andforests
other andcontrolled
other controlled
sources sources
FSC®-certiﬁed
FSC®forests
with vegetablewith vegetableoil ink.
oil ink.

Tokio Marine Holdings 2023 Integrated Annual Report

Selected forconsecutive years

ESG FinanceAwards Japan

Silver Award(environmentally sustainable company category)https://www.tokiomarinehd.com/en/ir/download/k82ffv000000grk2-att/Integrated_Report_2023_e.pdf
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