SUSTAINABILITYREPORT

2023

Tokio Marine Group’s Purpose
Protecting Customers and Society in Times of NeedOur basic approach to being a “Good Company” is to be “a company trusted
by all people and society by supporting customers and society in times ofneed.” Tokio Marine Group has provided “safety and security” to society
and contributed to its development by making the most of our knowledge
and experience accumulated over the years in the insurance industry. We
will continuously work to solve various social issues and raise the Group’s
corporate value while contributing to a safe, secure and sustainable future.
By doing so, we aim to become a “Good Company” that is trusted by all
people and society.

Tokio Marine Group Sustainability Charter

Tokio Marine Group Corporate Philosophy
With customer trust as the foundation for all its
activities, Tokio Marine Group continually strives toraise corporate value.
Through the provision of the highest quality products and services, Tokio● 

Marine Group aims to deliver safety and security to all our customers.
By developing sound, profitable and growing businesses throughout● ●Products and Services: We aim to provide society with products and services to meetits needs for safety and security.
Respect for Human Rights and Dignity: We respect and actively promote the● 

the world, Tokio Marine Group will fulfill its mandate to shareholders.

recognition of human rights. We strive to ensure an energetic working environment

Tokio Marine Group will continue to build an open and dynamicthat is both safe and healthy and to promote training and education of our employees.

corporate culture that enables each and every employee to demonstrate

We respect the right to privacy and strive to enforce sound information management

his or her creative potential.

and control.

● ●

Tokio Marine Group is committed to fulfilling its Corporate Social Responsibility (CSR) by implementing
its Corporate Philosophy to achieve sustainable growth together with the development of society inaccordance with the following principles:
activities.
Contribution to Local Communities and Societies: As a member of various● 

communities and societies, we respect the diversity of cultures and customs and we
aim to contribute actively to the needs of the current era.
Compliance: While striving to maintain high ethical standards at all times, we will● 

pursue strict compliance in all aspects of our business activities.
Communication: We intend to disclose information timely and appropriately and to● Protection of the Global Environment: Acknowledging that the protection of thepromote dialogue with all our stakeholders to ensure effective corporate

management, Tokio Marine Group will broadly contribute to theglobal environment is an important responsibility for all corporate entities, we respectmanagement.

development of society.

the harmonization with and the improvement of the global environment in all of ourActing as a good corporate citizen through fair and responsible● 

2023 Sustainability Report2Present Status of Tokio Marine Group
Founding

Number of Group Companies

1879 Japan’s first insurance company
144 years in business since the establishment

Tokio Marine Holdings
Subsidiaries

268 companies

Affiliates

26 companiesof Tokio Marine Insurance

1914 Launch of Japan’s first auto insurance
Number of Employees

Main Business(as of March 31, 2023)

Approx.

43,000 persons

Domestic

Approx. 25,000● Insurance business overseas

Overseas

Approx. 18,000

5,541.6 billion yen
Adjusted net income: 444.0 billion yen
Adjusted ROE:11.1%* Adjusted net income and adjusted ROE are our original performanceindicators that exclude the effect of various reserves specific to theJapanese insurance business and the effect of goodwill.

Overseas

56%

A.M. BestMSCI
CDP
Sustainalytics

Selected for 8 consecutive years
14 consecutive years
DX StockSelected for 2 consecutive years
AA
Gold rating (Tokio Marine & Nichido)
PRIDE Index
AAward (environmentally19.0（Low Risk） ESG Finance Awards Japan Silver
sustainable company category)
Selected for

Health & Productivity stock● Carbon neutral status10consecutive years since FY2013(14 consecutive years for Tokio Marine & Nichido)* Scopes 1 + 2 + 3 (four items)● Decarbonization-related insurance underwritten

Approx.

35.0 billion yen(results as of the end of FY2022)

109.0 billion yen

Domestic

Approx.

44%(balance as of the end of FY2022)

Social Indicators● Employee participation rate

in social contribution activities

Total of118.5 billion yen (April 1999 – March 2019)

Governance Indicators● Board of Directors:

Outside Directors comprise47％(7 of 15 Directors)

Accumulated total participation rate of more than

100% ( Tokio Marine Holdings andmain subsidiaries)● Audit & Supervisory Board: Outside Audit &Supervisory Board Members comprise

3.1billion yen(Tokio Marine Holdings and main subsidiaries)

60％(3 of 5 Members)● Expenditure for social contribution activities

Approx.

ESG Assessment (as of August 31, 2023)

34 % in FY2022 (vs FY2015)● Economic value generated by mangrove planting

Financial Rating

Moody’s

DJSI

FY2023* Calculated based on profit by business segment (initial plan)

A+
Aa3
A++

Reduction of● Sustainable and themed investments and financing● Financing and other businesses

S&P

Environmental Indicators● Reduction in GHG emissions

Top line(net premiums written + life insurance premiums):● Life insurance business in Japan(Tokio Marine & Nichido as of June 1, 2023)

JAPAN and 46 countries and regions

FY2022 Results● Key performance● Profit composition by region*● Non-life insurance business in Japan

International Network

Performance Indicators● Directors and Audit & Supervisory Board

Members: Women comprise20％(4 of 20 persons)● Culture and value survey for employees

4.4 on a scale of five* Combined total of Tokio Marine Holdings and Group companies
in and outside Japan● Nomination Committee: Outside Officers comprise60％(3 of 5 Officers)● Compensation Committee: Outside Officers comprise80％(4 of 5 Officers)

2023 Sustainability Report3

S U S TA I N A B I L I T Y
REPORT 2023

C ON T EN T S

Tokio Marine Group’s Purpose ………………………… 2
Present Status of Tokio Marine Group ……………… 3

Link to external website

Link to anchor point on this Report

Overall Table of Contents
Table of Contents for Basics

Message
Basics 12 Top
Solutions for Social Issues and Progress of Sustainable……………………………………………………………… 6

Growth ……………………………………………………………………… 8
3 Tokio Marine Group’s Approach to Value Creation ………… 9
4 CSUO Message …………………………………………………………… 10
5 Organizational Structure for Promoting Sustainability … 12

Details

PDF file open…………………………………………… 4…………………………………………… 5

6 Specifying Eight Material Issues (Materiality) ………………………… 13
7 Primary Initiatives for Eight Material Issues (Materiality) ………… 14
8 External Evaluations ……………………………………………………………… 20
Special Feature 1: Penetrating Our Sustainability Strategy ………… 22
Special Feature 2: Commitment to Respecting Human Rights …… 23
Special Feature 3: Initiatives for Future Generations ………………… 24

Table of Contents for Details ……………………… 25

6 Tokio Marine Group’s Social Initiatives ……… 83

7 Tokio Marine Group’s Governance Initiatives … 156

1 Progress of Eight Material Issues

6.1 Creating Social Value …………………………… 83

7.1 Response to Environmental and Social Risks …… 156

6.2 Respect for Human Rights ……………………… 86

7.2 Corporate Governance …………………………… 157

6.3 Promoting Diversity and Inclusion……………… 100

7.3 Compliance ………………………………………… 162

6.4 Promoting the Development and7.4 Enterprise Risk Management (ERM) ……………… 167(Materiality)…………………………………… 26

2 Relationship between Tokio Marine Group’s
Eight Material Issues and 17 SDG Goals…… 30

3 Stakeholder Engagement…………………… 31

4 Participation in Initiatives…………………… 35

Empowerment of Human Resources…………… 104
6.5 Promoting Health and Productivity
Management and Improving Occupational

5 Tokio Marine Group’s
Environmental Initiatives

Safety and Health Standards………………… 41

5.1 Creating Environmental Value ………………… 41
5.2 Responding to Climate Change ………………… 46
5.3 Promoting Green Transformation ……………… 51
5.4 Responding to Natural Disasters ……………… 56
5.5 Protecting the Global Environment………… 63

5.6 Research on Climate Change andNatural Disaster Risks …………………………… 72………………… 107

7.5 Responding to Disasters………………………… 169

7.6 Information Security ……………………………… 170
7.7 Cybersecurity ……………………………………… 172
7.8 Sustainability in the Value Chain ………………… 173

6.6 Contributing to the Creation of a Safe andSecure Society………………… ……………… 119

6.7 Improving Quality from the Customer’s
Perspective…………………………………… 142

8 Sustainability Performance Data ………………… 180
Third-Party Assurance ………………………………… 189
GRI Standards Content Index ………………………… 190
Recognition about ISO 26000 ………………………… 197
Overview of Group Sustainability Reporting ………… 199
Editorial Policy………………………………………… 200

2023 Sustainability Report4Table of Contents for Basics
Tokio Marine Group’s Sustainability

1 Top Message …………………………………………………… 6

6 Specifying Eight Material Issues (Materiality)

Message from Satoru Komiya, Group CEO

We introduce how we specified eight material issues.

2 Solutions for Social Issues and Progress of
Sustainable Growth ………………………………………… 8

7 Primary Initiatives for Eight Material Issues(Materiality) …………………………………………………… 14

Our history to address social issues since its foundingT his section describes Tokio Marine Group’s initiatives for

3 Tokio Marine Group’s Approach to Value Creation … 9……… 13material issues provided with specific indices.

T his section introduces our approach to value creation through a

8 External Evaluations …………………………………………… 20

cycle of business activities and solutions to societal challenges based

We introduce evaluations we received from external organizations.

on our Purpose as our foundation.

4 CSUO Message……………………………………………… 10

Message from Kiyoshi Wada, Group CSUO

5 Organizational Structure for Promoting
Sustainability ……………………………………………… 12
We implement our sustainability strategy on a global scale under anSpecial Feature 1:
Penetrating Our Sustainability Strategy ………………………… 22
 pecial Feature 2:
S
Commitment to Respecting Human Rights …………………… 23
Special Feature3:
Initiatives for Future Generations ………………………………… 24

effective promotion structure.
2023 Sustainability Report5Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

1 Top Message
Aiming for Full-Fledged Sustainability Management toContinue Our Efforts to Realize a Sustainable Society in Which
People Can Live Safely and with a Sense of Security While
Taking on Bold Challenges and Achieve Our Own Growth
Perception of External Environment and Our Purpose
Since our founding in 1879, protecting customers and local communities in times ofneed has been our unwavering purpose, or raison d’etre.

Tokio Marine Group's
PurposeOur business started with marine insurance 144 years ago. Since then, while
experiencing a number of difficulties and drastic changes in the social structure,including the Great Kanto Earthquake and advances in motorization, we havesincerely addressed and worked to resolve ever-changing social issues through ourcore insurance business, based on our purpose of protecting customers and local
communities in times of need. All employees have been striving together under
the shared belief that the more we grow our business, the more we can make theworld a better place. With their efforts, we intend to achieve sustained profit growthand continue to provide value to all stakeholders, including customers, society,shareholders, employees and future generations.
Needless to say, constantly providing value to all stakeholders is not an easy task.
Nonetheless, we will continue to resolve increasingly complex social issues andcontribute to the realization of a sustainable society while keeping our purpose inmind and believing that there is always an optimum solution.
Over the course of 144 years, we have grown into a global corporate group withmore than half of its profit deriving from overseas businesses. As such, whatever
happens in any part of the world, it is not someone else’s problem for us anymore.
Natural disasters have increased in intensity in line with climate change. The
prolonged conflict in Ukraine has served to divide the world further and, as aconsequence, caused the rapid restructuring of the global supply chain andaccelerated changes in the economic security framework. Due in part to these

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

2023 Sustainability Report6Basics

Details

Environmental
Initiatives

situations, inflation has progressed globally, the impact of the credit crunch has
become evident with the collapse of financial institutions in the United States andthere has also been a growing risk that the economy will take a downward turn. The
degree of volatility, uncertainty, complexity and ambiguity (VUCA) has increased in
the political, economic, social and all other aspects, making it difficult to foresee thefuture in the months, even weeks, ahead.
Then again, insurance is about supporting customers in times of need. As acorporate group engaging in the insurance business, we aspire to remain a presence
that assists people in taking on challenges even in such an environment with anuncertain future and helps society grow while we ourselves continue to take up thechallenge of solving social issues.

Sustainability Strategy (Purpose Story)
For us to contribute to the resolution of social issues and achieve our own growth ina sustained manner through our core insurance business, it is important to establish
a cycle of linking business activities with the solving of social issues.

Specifying
Eight MaterialIssues(Materiality)

More specifically, we have included taking climate action, improving disaster
resilience and supporting people’s healthy and enriching lives in the list of material
issues that the Group should tackle in particular. Accordingly, we will work to realize
a sustainable society in which people can live safely and with a sense of security
while also taking on bold challenges by leveraging two of the Group’s strengths,
namely global risk diversification and global, integrated Group management.
I believe that the resolution of human rights issues is essential to realizing asustainable society. As a signatory to the United Nations Global Compact, Tokio
Marine Group will promote and enhance initiatives related to human rights
throughout the value chain, with every employee repeatedly taking honest andempathetic action.

Tokio Marine Group’s
Approach to Value
Creation

Cooperation with stakeholders is also necessary for solving social issues andachieving sustained growth. While facilitating collaboration with external partners,
we will hone our ability to resolve social issues and constantly rotate our value
creation cycle.
As examples of our collaboration with external partners in the field of disaster
resilience, a cross-industrial disaster prevention consortium named CORE justinitiated its comprehensive disaster prevention and mitigation solutions projects in

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Japan. In the United States, we are examining the provision of a risk improvement
program jointly with the University of Hawaii, which includes measures to counterthe aging of condominiums. In China, a health promotion consortium was formed,
and the development of healthcare solutions transcending industrial boundaries
is underway to extend Chinese people’s healthy lifespans. These “seeds” have juststarted sprouting but will eventually grow into trees and become forests. It feels
very reassuring that such initiatives are being accelerated both in Japan and acrossthe world, and we are confident that constantly and honestly making these efforts
will become a driving force for us to continue our sustained growth 100 years fromnow.

Working with Stakeholders to Become a Global Insurance Group
Truly Needed 100 Years from Now
Related measures taken by each Group company are monitored for progress by
the Sustainability Committee and are steadily promoted while being reported toand submitted for discussion at the Management Meeting and Board of Directors.
Diverse members, including non-Japanese chief officers, participate in thecommittee and hold animated discussions about initiatives that are based on our
purpose. These include whether we are fulfilling the roles society expects of us as a
global company; providing support in terms of climate action to business partners
in their transition to decarbonization, which will lead to the achievement of the Paris
Agreement targets; and providing disaster prevention and mitigation solutions forbetter disaster resilience and to allow future generations to live safely and with asense of security.
By further reinforcing our structure to promote integrated initiatives throughout theGroup, we have been striving to foster a corporate culture where each employee
works to solve social issues as their own personal matter.
Our history spanning more than 140 years has been a continuation of solving social
issues, a history created through the collective efforts of employees and otherstakeholders.
Going forward, we aim to provide customers and society with original solutions topertinent social issues and create value for various stakeholders, including future
generations. We will also work with all Group employees to achieve the growth
expected of a world-leading insurance company.
We appreciate your continued support.
2023 Sustainability Report7Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

2 Solutions for Social Issues and Progress of Sustainable Growth
Tokio Marine Group’s purpose is to protect customers and society in times of need. Since ourfounding in 1879, we have achieved long-term sustainable growth by helping to address
numerous social challenges that change with the times. When Tokio Marine was founded, 100%of our business was marine insurance. Since then, although marine insurance sales have grownsignificantly, they now account for only 2% of our total composition ratio. To put it another way, we
have gained the support of our customers by adapting and expanding our business in response toa changing world, which has led to profit growth and increased shareholder dividends. We intend
to achieve further growth so that we can always be there for customers and society in times ofneed.

History of the Group’s Growth and Solutions for Social Issues

Premiums

Direct Net Premiums Written*1 (Bar Graph) and Total Dividends Paid (Line Graph)2020 Japan/Europe: Support the spread ofInternational insurance*3

Total dividends*44.0

2002 Japan: Offered Japan’s first integrated life150

and non-life insurance product called Super
Insurance

3.0
Tokio Marine Holdings
establishedIndia: Microinsurance

1999

2.0

Europe (Kiln): Cyber insurance

1.0

Japan: First product liability insurance in Japan

1879

100

Japan: Entered life insurance business

1959
1914

(Billions ofyen)of accidents involving self-driving cars

2001

1996

(Trillions ofyen)

Dividends

2017 Japan: Japan’s first Insurance cover for victims*1: Excludes deposit premiums from policyholders*2: Shows premiums from Tokio Marine from fiscal 2001 and prior, and combined premiums
from Tokio Marine & Nichido and Nisshin Fire, etc., from fiscal 2002 onward*3: Shows premiums from 2002 onward when Tokio Marine Holdings was established*4: Does not include one-time dividends provided as capital level adjustment

Founded as the first
insurance company
in JapanPremiums Dividends¥200.2 bn

renewable energy

Domestic non-life insurance*2

¥5 tn

50

Japan: First auto insurance in Japan

1960

1965

1970

1975

1980

1985

1990

1995

2000

2005

2010

2015

2022 (FY)2023 Sustainability Report8Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

3 Tokio Marine Group’s Approach to Value Creation
With our Purpose as our foundation, we will bolster our human, intellectual, and social capital and create a cycle of businessactivities and solutions to societal challenges. This is how we will steadily reﬁne our strengths and strategies and galvanize
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

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

A Sustainable Society in Which Everyone Can Livein Safety and Security and Take on Any Challenge(Long-term vision)

Eliminate
uncertainty byunderwriting risk

Business
Activities
Group Strengths

Alwaysthere forcustomers

Global Risk Diversiﬁcation
Global Integrated
Group Management

Supporting
customersin their timesof needCover damages
and encourage
eﬀorts to tackle
challenges

Quickly restore
and prevent
recurrence“(insurance business/underwriting)”(insurance business/payments)

Societal Challenges
Being Addressed

Business Platform
Human
CapitalIntellectual
CapitalSocialCapitalPurpose

Improvingdisaster resilience

Promotingclimate action

Addressing societal challenges
through business activities”

Upward value
creation spiral

Detect risk andcontain damages“

100 years
ahead

Supporting
healthy andspiritually rich living

Changing Social Needs and Increasing Diversity and Complexity of Societal Challenges
Governance
Past

GlobalWarming

Demographic
Changes

Rising
GeopoliticalandGeoeconomic
Risks

Rapid
Progress in
DX and AI
etc.

2023 Sustainability Report9Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

4C
 SUO Message

By contributing to building a better society through constantly seeking andoffering solutions to ever-changing global issues as only Tokio Marine can, we will
accelerate the upward spiral of resolving social issues while growing our business.
Protecting customers and society in their times of need has beenThat is, “to continue building a sustainable society by balancing

Tokio Marine Group’s raison d’etre since our founding, aiming

our corporate activities and the resolution of social issues.”

to be a global insurance group that delivers sustainable growth

Despite the changing times, the core concept of our deeply

by providing safety and security to customers worldwide. Basedrooted sustainability strategy has remained unchanged since ouron this purpose, we have confronted evolving social challenges

inception. We must continue to step up our efforts and capacity

head-on and offered solutions that only we can. Our historicalto solve issues. As these challenges become increasingly diverse

contributions, from supporting Japan’s modernization as aand complex, it is important that we employ our expertise andtrading nation through maritime insurance to aiding postwar

know-how globally and mobilize as “one team” to combat them.

motorization with automobile insurance and promoting

It is imperative that we unite the individual contributions of eachrenewable energy through tailored insurance packages, illustrateGroup company and carry out collective activities with a greater

how our core business activities inherently address social issues

sense of urgency.

and embody sustainability. The spirit of sustainability ingrained
DNA, a legacy passed down through generations since ourEstablishment of Promotional Framework and
Penetration of Global Sustainability Strategy

founding.

To swiftly execute this strategy across the board, in fiscal 2021

in our 40,000 employees worldwide is the very essence of our

we enacted the Group Sustainability Policy applicable to all

Environmental Changes Surrounding SustainabilityGroup companies and identified eight key areas (materiality) forIn this rapidly changing and unpredictable era, the environment

focused initiatives based on our purpose. We also establishedsurrounding sustainability is also undergoing constant shifts.

the Sustainability Committee, which includes executives fromThe scope of societal issues we need to address has expanded

overseas Group companies, to actively engage in discussion

beyond global warming and climate change and the increasing

regarding our global sustainability strategy and initiatives. The

frequency and intensity of natural disasters to encompass such

Sustainability Committee goes beyond discussing overarchingareas as human rights and biodiversity preservation. Against thispolicies; it also focuses on showcasing how social challenges

backdrop, my mission as CSUO is to make sure we continue toare tackled through both domestic and international businessembody this long-established DNA of solving social problems

operations. This approach has led to increased communicationand directly connect that to growth for society and the Company.

between Japanese and overseas branches and played a crucial

Kiyoshi Wada
Managing Director
Group Chief Sustainability Officer(CSUO)

2023 Sustainability Report10Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Datarole in expediting strategic decision-making and implementation

We are also making consistent strides in other crucial domains,

Addressing human rights concerns, we have already createdthroughout the Group. These initiatives have effectively

such as broadening Environmental, Social and Governancea human rights risk map, identifying priority areas for action

propelled the permeation of sustainability policies and strategies(ESG) investment and financing, making contributions towardamong “business partners,” “value chains” and “employees.” Inacross the Group. Centered on the eight key areas (materiality),

future generations, improving disclosures in line with theterms of biodiversity conservation, we continue to advanceefforts to address social challenges through business activities

recommendations of the Task Force on Climate-related Financial

activities emblematic of the Group, such as mangrove planting

are gaining global momentum.

Disclosures (TCFD) and crafting a policy for human rights due

and ocean conservation, while considering the forthcoming

diligence.

Taskforce on Nature-related Financial Disclosures ( TNFD)
framework for assessing impacts on ecosystems and natural

In addressing climate change, we are not only developing andcapital resulting from business activities.

of renewable energy, but also engaging with more than 250

Accelerated Integration with Business Activities andResponse to New Social Challenges

companies on climate change and environmental themes

These initiatives have contributed to the incremental global

These endeavors do not operate in isolation, however. By

and operating a renewable energy fund to promote green

adoption of our sustainability strategy, and we will take steps toproactively disclosing our various initiatives, such as our TCFD

investments. Furthermore, we have established the GX Roundfurther refine it going forward.

Report and Human Capital Report, we seek to invigorate

offering products and services that contribute to the growthdialogue with stakeholders, leveraging insights gained to further

Table to foster collaboration across the Group in the green
transformation (GX) field, advancing support for the global

Specifically, we aim to create a state where exceptional ideas

transition to a decarbonized society.

arising from each workplace, which contribute to solving social

elevate our sustainability strategy.

Within the domain of disaster resilience, we are actively

distinctive to the Group through effective communication among

Enhancing Value by Circulating Corporate Activities andthe Resolution of Social Issues

broadening our efforts across pre-emptive and post-incident

diverse employees and persistent hypothesis testing. To achieve

Guided by our enduring purpose of protecting customers

strategies, with the goals of accident prevention, mitigating

this, we are enhancing the incorporation of our sustainability

and society in times of need, we will combine the collective

burdens during incidents and expediting recovery while

strategy into business plans and establishing a mechanism tocapabilities of the Group and take pride in our commitment

averting future recurrences. Harnessing digital technology, we

review initiatives based on key performance indicators (KPIs).

to be a front-runner in solving social issues. At the same time,

have established streamlined and automated insurance claim

This initiative takes center stage in 2023. Furthermore, we

we will strive to increase both social value and economic value

procedures, ensuring swift delivery of benefits to those impacted.

recognize the importance of cultivating individuals who can(profit growth) by circulating our corporate activities against theIn the United States, we provide accident-detection sensors freedrive the execution of strategies at each Group company. These

resolution of social issues.

of charge, integrating digital innovation into product evolutionindividuals should embrace the sustainability strategy as theirand launch to forestall accidents and curtail losses through data-own, integrate it into their organizational plans and champion

We sincerely appreciate the ongoing understanding and support

driven insights. Our commitment extends to collaborative efforts

its implementation by involving their peers. To this end, we areof all our stakeholders.

in disaster prevention and mitigation across diverse industries

developing a systematic curriculum for talent development inthrough CORE, a disaster prevention consortium. This consortium

the theory and practice of sustainability strategy, scheduled forhas generated specific solutions such as the Real Time Hazzard

implementation this fiscal year.

challenges, are transformed into unique businesses and services

and resilient information delivery services, garnering support
from over 100 participating companies and magnifying its

As new social issues related to human rights and biodiversity

societal impact.

conser vation emerge, we remain attuned to changing
perspectives and societal expectations, responding promptly.
2023 Sustainability Report11Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

5 Organizational Structure for Promoting Sustainability
Given its importance, the Sustainability Committee consists of top management members, including

issues by gathering the wisdom of the entire Group. The committee’s deliberations are promptly

the CEO and other chief officers. In addition, members from Group companies around the world also

reported to the Management Meeting and the Board of Directors, and the feedback obtained is usedparticipate in committee meetings. In this and other ways, we explore measures to address various

in subsequent discussions and considerations.

Organizational Structure for Promoting Sustainability(1) Role of the Sustainability Committee
Deliberates on Tokio Marine Group’s sustainability strategies
Oversees the overall management and execution of sustainability strategies● Reports to and submits matters for discussion to the Board of Directors and in relevant
● 

Group

Board of Directors● 

Two-hour meetings held
four times annually

management meetings

CEOManagement Meeting
Sustainability Committee(comprised of the CEO and C-suite)<Matters discussed by the Sustainability Committee>
CSUO

Apr. 2022

Formulation of annual plan for fiscal 2022 (permeation of sustainability strategy,
reduction of GHG emissions, contribution to future generations, etc.)

Aug. 2022

Initiatives to contribute to future generations
Strengthening of the Climate Policy, etc.

Nov. 2022

Permeation of sustainability strategy within the Group
Response to key ESG rating agencies, etc.

Feb. 2023

Review of the fiscal 2022 plan and direction of the 2023 plan
Progress and future development of human rights due diligence, etc.

1Secretarial Office2

3Working Group
Products andservices(insurance andinvestments andfinancing)Operations(including
diversity andinclusion (D&I))

Socialcontributions

Task Force

Communications

Businessstrategies

TCFD

Diversity
Council*(2) Roles of other organizations
Departments in charge of corporate planning, international
business development and financial planning

1 Secretarial Office	Handles administration for the committee (as well as the subcommittees and task
force) and promotes sustainability strategies.

Group Companies
Group companies in thedomestic non-life
insurance business

2 Working Groups

Group companies
in the domestic
life insurance businessGroup companies in thedomestic financial andother businesses

Group companies
in the international
insurance business	Formulate and execute annual plans for respective issues, with input from relevant
departments of Tokio Marine Holdings and members of Group companies.
3 Task force	Organizes members of projects tasked with strengthening short-term initiatives.

* A body aimed at building consensus among Group companies regarding important D&I themes (e.g., fostering female executive
candidates, making companies more inclusive)

2023 Sustainability Report12Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

6 Specifying Eight Material Issues (Materiality)
Based on advice from stakeholders, specialists and external experts, in 2021, Tokio Marine Group
specified eight material issues that the Group should address.

STEP

1

STEP

2

Defining Value (Purposes) to Provide to Our Stakeholders

Prioritizing Issues

We assessed the eight material issues along the two axes of “expectations“future generations” as stakeholders. Then, we identified eight material issues based on the value we provide to eachand the interest of stakeholders” and “importance for Tokio Marine

stakeholder and the social issues that affect our insurance business.

Group,” and selected four priority issues.

[Value provided]• Hand down a sustainable
environment and society tofuture generations by engaging
in climate change countermeasures and the preservation of
biodiversity• Support the challenges of
future generations by providing
education and enlightenment tochildren●❻stakeholder 1

For customers

Take
climate action

Protect thenaturalenvironment●❸

Supportpeople’shealthy andenriching lives●❼
Provideeducation tochildren

Improvedisasterresilience

●
❺

●
❽

stakeholder 4

For shareholders
and investors[Value provided]• Continually increase shareholder
returns• Enhance the Group’s value andearn the trust of shareholders andinvestors through timely andproper disclosure along withconstructive dialogue●❷[Value provided]• Contribute to making customers’
lives healthy and enriching
through products that provide
security and assistance with
future-oriented challenges

Facilitate andfoster innovation
through
digitalization

Disclose highly
transparent
and timely
information●❹
Promote andsupportdiversity andinclusion
stakeholder 3

For employees[Value provided]• Help employees reach theirhighest potential throughengagement and opportunities
for them to thrive

stakeholder 2High

Material issues

Priority issues

●
❼

●
❺
● ❻
●
❽

Low

● ❶
●
❷
● ❹
●
❸

High

Importance for Tokio Marine GroupFor society[Value provided]• Contribute to building asustainable society that canovercome any challenge andensure the safety and security of
all its members

Material issues
Priority
issues●❶stakeholder 5

For future generations

Expectations and interest of stakeholders

Based on the strong belief that “it is our duty to pass on a bright future to the next generation,” we have clearly positioned❶ Take climate action❷ Improve disaster resilience❸ Support people’s healthy and enriching lives❹ Promote and support diversity and inclusion❺ Facilitate and foster innovation through digitalization❻ Protect the natural environment❼ Provide education to children❽ Disclose highly transparent and timely information
2023 Sustainability Report13Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

7 Primary Initiatives for Eight Material Issues (Materiality)
1

Take Climate Action

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

Target: Reduce the Group’s GHG
emissions by 60% (vs. fiscal 2015)

important issue that should be addressed head on as an

34

insurance company operating businesses globally and as

Achieve carbon neutrality

Marine Group has been pushing forward with a range
of initiatives by positioning climate change as the mostan institutional investor. At the same time, we regard it as
a business opportunity for achieving growth and provide
insurance products that promote the widespread use of10% reduction

Achieve carbon neutrality throughengagement with corporate
customers*1

consecutive years

250

Decarbonization-related insurance
underwritten

About

35

billion yen*1

Sustainable and themed
investments and financing (balance
as of the end of fiscal 2022)

Dialogue withcompanies*1

About

109

billion yen

renewable energy and offer investments and financing
on such themes as climate action.

Achieving Carbon Neutrality through Engagement with Corporate Customers*1 Fiscal 2022 results
For fiscal 2023 results, please see Supplemental Information 2023.

The task of achieving carbon neutrality needs to be tackled jointly with corporate customers. As such,

Achieving Carbon Neutrality through the Provision of Products and Services andInvestments and Financing

we have supported their decarbonization efforts through dialogue and the provision of solutions.

■ Initiatives as an Insurance Company

Recently, we have selected about 200 corporate customers with particularly large greenhouse gas

We are working to develop and provide insurance products and services that will help promote(GHG) emissions and defined an interim target to seek more in-depth dialogue with them.

the widespread use of offshore wind, solar and other renewable energy and storage batteries, as■ Defining an Interim Target for 2030 for Dialogue (Engagement) with Corporate Insurance Customers

well as the utilization of hydrogen. In fiscal 2022, the amount of decarbonization-related insurance

In Tokio Marine Group, major subsidiary Tokio Marine & Nichido will hold dialogue with 200 large

underwritten in the entire Group totaled about 35 billion yen.

*2

corporate customers , which account for approximately 90% of the company’s insurance-associated■ Initiatives as an Institutional Investor

GHG emissions, and aim to achieve Level 2 engagement with more than 160 customers by 2030.

We are promoting sustainable and themed investments and financing. In fiscal 2022, we invested inJapan’s first blue bonds, and the balance of investments and financing as of the end of fiscal 2022

Level 1: Identify issues

stood at roughly 109 billion yen. We also set up a new framework of impact investment in May 2022,

Level 2: Make proposals based on identified issues

and the commitments amounted to about 13 billion yen at the end of fiscal 2022.

Level 3: Provide insurance and related solutions■ Initiatives as an Asset Manager*2 Companies listed in the Prime Market of the Tokyo Stock Exchange,
selected from Tokio Marine Nichido’s top 150 customers in terms of written
insurance premiums and top 100 customers in terms of GHG emissions

We provide investment products for institutional investors, which make diversified investments insolar, wind, biomass, water, geothermal and other renewable energy power generation facilities inJapan and provide investment income to investors from sales of electric power.
2023 Sustainability Report14Basics2

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Improve Disaster Resilience

For Tokio Marine Group, whose home market is Japan, oneof the most disaster-prone countries in the world, improving
disaster resilience by resolving disaster issues and mitigating
the damage from disasters is a critical area where Tokio

Insurance claims for major natural
disasters paid in 2022

Corporate members of the disasterprevention consortium CORE

Marine Group’s 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

More than

150,000 cases

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

About

130

billion yen

100More thancompanies

As of June 30, 2023

restoration and preventing the recurrence of emergencies.

Target: Continue BCP formulation
support
BCP assistance agreements
concluded with a total of:

42 prefectural governments
13 designated major cities
76 other cities
As of February 28, 2023

Sustainability Report 2023 Supplemental Information

Accelerating and Increasing the Sophistication of Claims Payments

Creation of Solutions by the Disaster Prevention Consortium CORE

In fiscal 2022, Tokio Marine & Nichido introduced a system to automate the process from receiving

As of July 2023, the disaster prevention consortium CORE, for which Tokio Marine Group is theloss reports to notifying the amounts of claims payments for certain claims for natural disasters.

founding member, is joined by more thanAutomatically going through the claims filing procedures for disaster-affected customers, the system

100 companies from diverse sectors andhas allowed us to make insurance claims payments sooner than the conventional method. Moreover,

now has 10 subcommittees, one eachthe automation has eliminated some clerical work and allowed us to deal with customers in a morefor 10 themes. Thanks to the activities ofdetailed manner when in-person response is required.

these subcommittees, there has been a

Real Time Hazzard (to be released in fiscal 2023)

further study of solutions directly related
In 2022, major natural disasters continued to occur, such as an earthquake off the coast of Fukushima

to the four areas of disaster prevention

Prefecture in March, a hail storm in the Kanto region in June and typhoons Hinnamnor, Nanmadol andand mitigation (capturing the current

Talas in September. For these five disasters, Tokio Marine & Nichido paid claims amounting to somestates, formulation of measures/implementation, evacuation and rebuilding livelihoods) as well as*1Analyze depth of flooding using AI

Issue an alert (flooding map)

130 billion yen for a total of more than 150,000 cases. Utilizing the best mix of people’s ability andincreased collaboration among the participating companies. We have thus entered a phase of turning

digitalization, we will strive for even earlier restoration of the livelihoods and business activities ofideas into specific solutions for commercialization mainly targeting local governments. These include

disaster-affected customers.

the Real Time Hazzard, in which AI is used to analyze security camera footage in the event of a water-*1 C
 laims paid for the five disasters, including an earthquake, on the basis of original insurance, not taking into accountreinsurance

related disaster and visualize flooding in real time, and the Disaster Loss Simulation, which will
simulate the total loss amount in a subject area upon the occurrence of a disaster.
2023 Sustainability Report15Basics

3

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Support People’s Healthy and Enriching Lives

In the current era of 100-year life, it is everyone’s wish
to live a long, healthy life. An aging population and theavailability of advanced medical care, on the other hand,
have been pushing up the financial burden of individuals,
their families and society every year. As an insurancecompany covering disease and illness through life andnon-life insurance products, Tokio Marine Group aims toleverage its extensive expertise to offer high-value-added
products and services. With these initiatives, the Groupwill contribute to solving social issues, such as extending
healthy life and asset lives, as well as support a healthy

Insurance underwritten in thehealthcare domain

Health and productivity
management support provided to:

20

About

billion yen

Fiscal 2022 result

2,000

companies

Fiscal 2022

Continue to be selected as a
“Health & Productivity Stock”

8

consecutive years

Fiscal 2023

and enriching lifestyle.

Expanding the Healthcare Domain

Promoting Health and Productivity Management of Corporate Customers

Tokio Marine Group is working to develop and provide new

Companies based in each region in Japan are facing

healthcare services by focusing on domains such as the elderly,

serious issues, including a lack of human resources

healthcare and asset formation.

and the need to improve productivity. Leveraging
the experience and know-how accumulated throughTokio Marine & Nichido Life has proactively promoted businesses

the selection as a “Health & Productivity Stock” forby providing various products, including new cancer insurance

eight consecutive years, Tokio Marine Holdingsthat provides coverage depending on the duration of treatment,

suppor ts customers’ health and produc tivit yas well as Anshin Cancer Treatment Insurance, providing coveragemanagement and helps them resolve various issues,of up to 100 million yen for treatment at specified national hospitals, for which public health insurancewith its more than 200 employees nationwide

will not apply. These products have garnered high praise from customers.

serving as the driving force. More specifically, in
response to the growing need among companies to obtain certification under Japan’s Certified Health

We have also been engaging in an initiative called Life Insurance Revolution since 2012. Since& Productivity Management Outstanding Organizations Recognition Program, we support about 2,000

November 2017, we have been engaged in Life Insurance Revolution Nextage, a new initiative thatcompanies by providing insurance products to help balance work with treatment or nursing care, web-aims to provide optimum safeguards by protecting customers in all domains. These safeguards

aided learning on the topic of mental health in addition to stress checks and other services. We areencompass “new protection in anticipation of advances in medical technology,” “accumulation” andalso striving to develop and provide insurance products closely aligned with health and productivity“prevention and presymptomatic health.”

management and gaining high recognition from customers.
2023 Sustainability Report16Basics

4

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Promote and Support Diversity and Inclusion (D&I)

In an era with an uncertain and unpredictable future,
diversity is the key enabler in providing optimum andcreative solutions backed by a high level of expertise forvarious issues facing customers worldwide. We believethat encouraging talented and motivated employeeswith diverse values to fully demonstrate their capabilities
regardless of gender, age, nationality and disabilities isalso important in improving the quality of products andservices we offer to customers around the world.

Percentage of womenEngagement survey

Directors
and Audit &Supervisory
Board Members

Tokio Marine& Nichido
Fiscal 2022

20
31.6

61.4

*1

%

In managerial or higher positions%*2

We regard the promotion of D&I as a
key success factor for achieving further

100

growth in an uncertain environment
and market. By promoting D&I, we
will “secure competitive advantage,”“demonstrate the Group’s integrated
strength,” “secure top talent ” and“improve productivity.”

Improve Productivity
Create a work
environment that allows
all employees, including
those belonging tominorities, to fully
demonstrate theirabilities and minimize
opportunity losses

D&I

Tokio Marine & Nichido

Gold rating
External evaluations*4 Please refer to P. 78 of our Human Capital Report 2023 for the calculation method.
Human Capital Report 2023 (in Japanese) (PDF/P. 78)*5 The actual percentage is 101.0%, as some male employees took childcare leave
during fiscal 2022 for children born in the previous fiscal year.

Creating an Environment Where All Employees Fully Demonstrate Their
Capabilities
To create an environment where all Group employees can demonstrate their capabilities to the

Secure Competitive Advantage
Provide optimal solutions tocustomers’ issues around the world
by leveraging our diversity*3

pointsPercentage of male employees
taking childcare leave*4
Tokio Marine& Nichido%*5
Fiscal 2022

*1 Tokio Marine Holdings, after the 2023 Ordinary General Meeting of Shareholders*2 Global, as of April 2023 (11.2% for Tokio Marine & Nichido)*3 A deviation score calculated using an engagement survey provided by Link andMotivation Inc.

Achieving Growth through Promotion of Diversity and Inclusion (D&I)

PRIDE Index 2022

Demonstrate theGroup’s Integrated
Strength
Make effective use of theexcellent human resources
within the Group to further
realize synergies on a
global basis

Secure Top Talent
Create an inclusive work environment
where diverse human resources canflourish and win the fierce competition
for talented people

Protect customers and society in their times of need

Tokio Marine Group’s Purpose

fullest while taking advantage of their diverse backgrounds, Tokio Marine Holdings establishedthe position of the Group Chief Diversity & Inclusion Officer (CDIO) and the Diversity Council in
April 2021. In 2022, we established a D&I community in each region (Europe, Asia and Japan)
comprising employees in charge of D&I promotion in Group companies, thereby setting up
a structure to accelerate our D&I promotion efforts by linking top-down initiatives of theDiversity Council and bottom-up initiatives of these communities.
The entire Group is also undertaking various initiatives to encourage changes in the awarenessand behavior of each employee, such as cultivating knowledge of unconscious bias andeliminating the gender gap.
Meanwhile, Tokio Marine & Nichido has continued to maintain a high score level inengagement surveys, which it has adopted to gauge employees’ job satisfaction andmotivation.
2023 Sustainability Report17Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Protect the Natural Environment

5 Facilitate and Foster Innovation through Digitalization

6

Going beyond merely paying insurance claims in the event of an emergency, we are proactively

The natural environment is the basis of all life and people’s livelihoods. It is also the premise of ourutilizing digital technologies to provide customers with products and services that lead to theenvisioned sustainable society in which people can live safely and with a sense of security while also

prevention of emergencies, minimization of damage, speedy recovery and prevention of thetaking on bold challenges.

recurrence of an emergency. We will also enhance countermeasures against the new risks arising instep with the progress of digital innovation. Further, we have positioned the data we accumulate

Tokio Marine Group has already been contributing to climate action and the preservation of biodiversity

daily and our digital technologies as a source of our competitive advantage to produce results

and wetlands through its Green Gift Project, Mangrove Planting Project and other activities to protect

globally.

the natural environment. However, we believe we need to step up our efforts in the future.

Development of Data-Driven Products
Investment in and development of human re-

Response to Cyber Risks:
24/7 Emergency Hotline Service

Investment in a Forestry Fund

Cyberattacks have become increasingly sophis-Preservation of Natural Capital andBiodiversity: Launching a Project toProtect Eelgrass Beds

sources are essential in accelerating support forand spurring innovation utilizing digital tech-ticated and elaborate in recent years, and there

In 2022, Tokio Marine Group launched activities

capital and committed to investment in a forest-

nologies. Tokio Marine Holdings has recruitedis a concern that they will grow further in num-

to protect and restore eelgrass beds. Eelgrass isry fund in fiscal 2023.

about 100 specialists in digital fields, including

bers. In response, Tokio Marine & Nichido hasa seaweed that thrives in shallow, sandy areas

engineers and designers.

been providing Cyber Risk Insurance since 2015.

with gentle waves and sunlight. It is highly ef-

Through the investment, the company intends

Tokio Marine & Nichido has been making investments conducive to the preservation of natural

We also opened Tokio Cyber Port, an online in-fective in absorbing and fixating CO2 from theto resolve an issue of longer intervals between

We have also integrated the Group’s advanced

formation lounge on cybersecurity countermea-

atmosphere and has a feature to purify water.

tree felling and improve forest management,

digital capabilities into Tokio Marine dR (TdR), oursures, in 2020 to raise awareness among compa-

core data company. We utilize these capabilities

nies and other customers about cybersecurity

Preserving natural capital and biodiversity trans-

supporting the achievement of carbon neutral-

to underwrite insurance based on advanced dataand encourage them to strengthen countermea-

lates into a variety of benefits, namely, lower emis-

ity and preservation of natural capital. As seen

analysis methods, provide new data solutions

sures. In April 2022, the company expanded its

sions of greenhouse gases, mitigation of disasterabove, we will promote the passing down ofand develop embedded insurance. We have

Emergency Hotline Service, a free consultation

risks from tsunamis and flooding and revitalization

valuable forest resources to future generations

consequently developed and released a series ofservice for cyber risk-related problems, and byof regional economies, and contributes to the cre-in the investment management field as well.

data-driven products, such as insurance with risk

making it available around the clock, 365 days

ation of a sustainable future.

mitigation services, which analyzes customers’

a year, set up a system to provide one-stop sup-facility repair data to provide optimal insurance

port to customers.

including tree planting, while at the same time

programs and support reductions in repair costs.
Another such product is corporate fire insurancewith typhoon and other wind damage risk diagnosis services, which uses aerial photography
and proprietary accident data. By providing theseproducts, we have generated unprecedented
added value and solutions.

Tokio Cyber Port website

2023 Sustainability Report18Basics7

Details

Environmental
Initiatives

Provide Education to Children

SocialInitiatives

8

GovernanceInitiatives

Sustainability
Performance Data

Disclose Highly Transparent and Timely Information

One of our major, timeless responsibilities is providing education to and raising awareness of children

In recent years, there has been an increase in ESG investment that utilizes non-financial information

who will lead the future. As various social issues become increasingly complex and diverse, oursuch as environmental, social and governance (ESG) factors in addition to corporate financial

responsibility for future generations is likewise increasing.

information for investment decisions. As a founding member of the Task Force on Climate-related
Financial Disclosures (TCFD), we are contributing to the promotion of climate-related information

Tokio Marine Group hosts programs to consider solutions to environmental and social issues withdisclosure while working to enhance our own disclosure of information.

children and provides other opportunities for education and awareness raising to pass down a better
natural environment and society to future generations.

We also believe that timely, appropriate and highly transparent information disclosure is essentialfrom the perspective of further increasing the trust of shareholders, investors and other stakeholders.

Educating and Raising Awareness ofChildren through Green Lessons andDisaster Prevention Lessons: Joined by
136,000 Children

Providing Disaster Prevention Lessons
Globally: Holding Lessons in Vietnam

Human Capital Report

TCFD Report

To facilitate an even deeper understanding ofWith natural disasters continuing to intensify,

More recently, we have under taken similar

Tokio Marine Group among many stakeholders,climate action has been gaining greater

initiatives overseas. In Vietnam, for example,

we issued our first Human Capital Report in Junesignificance. In response, we separated a section

In Japan, we provide Green Lessons to raise

we added the prevention of water accidents, a2023.

on climate-related information disclosure fromawareness for the protection of the global

social issue in the country, to the curriculum andenvironment and Disaster Prevention Lessons toheld Disaster Prevention Lessons for about 800

Since our founding, we have positioned “people”

teach elementary school children how to protect

children in elementary schools in Hanoi.

as a driving force of our growth and worked

themselves in a disaster. A total of 136,000

our Sustainability Report and issued the TCFD
Report 2023 in June 2023.

to maximize people’s capabilities. The report

The repor t discloses information on Tok io

children attended these lessons, 59,000 for

We will continue to strive for environmental

conveys our approach and initiatives in this area

Marine Group’s unique initiatives based on theGreen Lessons and 77,000 for Disaster Prevention

protection and better disaster resilience throughon an as-is basis to a maximum extent and in anroles it should assume, namely an insurance

Lessons since their launch in 2005 and 2012,

the education of children who are leaders of theeasily comprehensible manner.

u n d e r w r i t e r, i n s t i t u t i o n a l i nve s t o r, a s s e t

respectively. We will continue to provide such

future.

education and awareness-raising opportunities

manager, global company and good corporate
citizen.

in the future as well.

2023 Sustainability Report19Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

8 External Evaluations

Evaluation from ESG Rating Agencies

Tokio Marine Group is working to improve its initiatives in environmental, social and governance

Tokio Marine Holdings works toward transparency in its disclosure of ESG information and has(ESG) fields and has received numerous evaluations and awards in Japan and overseas. Also,

earned high acclaim from numerous global ESG indexes. As of the end of August 2022, Tokio Marine

to contribute to the creation of a safe, secure and sustainable future, Tokio Marine Group also

was listed in the ESG indexes shown below. Through these evaluations, we are working to further

participates in various initiatives that include the United Nations Global Compact (UNGC), the Unitedstrengthen our sustainability promotion structure by incorporating external knowledge and utilizing

Nations Environment Programme Finance Initiative (UNEP FI) and the United Nations Principles for

feedback from ESG evaluation organizations.

Responsible Investment (PRI).
ESG Index/ESG Rating

Rating Agency● Dow Jones Sustainability Indices
S&P Global

We have also been selected as a componentof two of MSCI’s ESG investment indexes: theMSCI Japan ESG Select Leaders Index and the
MSCI Japan Empowering Women Index (WIN).

*THE USE BY Tokio Marine Holdings, Inc.
OF ANY MSCI ESG RESEARCH LLC OR ITSAFFILIATES (“MSCI”) DATA, AND THE USE
OF MSCI LOGOS, TRADEMARKS, SERVICEMARKS OR INDEX NAMES HEREIN, DO NOTCONSTITUTE A SPONSORSHIP, ENDORSEMENT,RECOMMENDATION, OR PROMOTION OF Tokio
Marine Holdings, Inc. BY MSCI. MSCI SERVICES
AND DATA ARE THE PROPERTY OF MSCI OR
ITS INFORMATION PROVIDERS, AND ARE
PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY.
MSCI NAMES AND LOGOS ARE TRADEMARKSOR SERVICE MARKS OF MSCI.

In no event shall Sustainability Report
2023 be construed as investment advice orprofessional opinion as defined by applicablelaw.

● FTSE4Good Index● FTSE Blossom Japan Index(ESG index)(themed index/environmental)

S&P/JPX● CDP (climate change)(Obtained A– rating and Supplier Engagement
	
MSCI

Rating (SER) in 2022)● 2023 Health & Productivity

Stock Selection(eighth consecutive year since 2016)● Sustainalytics
In August 2023, we received an ESG
Risk Rating of 19.0 and were rated by
Morningstar Sustainalytics as having
a low risk of material financial impact
due to ESG factors.

● S&P/JPX Carbon Efficient Index

Rating Agency*● MSCIIn 2022, we received an AA rating in
the MSCI’s ESG index.

ESG Index/ESG Rating

Copyright 2023 Morningstar Sustainalytics.
All rights reserved. This publication/ article/
section] contains information developedby Sustainalytics (www.sustainalytics.com).
Such information and data are proprietary of
Sustainalytics and/or its third party suppliers( Third Party Data) and are provided for
informational purposes only. They do notconstitute an endorsement of any product or
project, nor an investment advice and are notwarranted to be complete, timely, accurate
or suitable for a particular purpose. Their use
is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

CDP

Ministry of Economy,
Trade and Industry
and the Tokyo Stock
Exchange● Outstanding Health and Productivity
Sustainalytics

Management 2023, large enterprise
category (White 500)

● Semi-Nadeshiko Brand

for fiscal 2021

FTSE Russell● Digital Transformation Stock 2023
FTSE Russell

Ministry of Economy,
Trade and Industry

Ministry of Economy,
Trade and Industry
and the Tokyo Stock
Exchange

Ministry of Economy, Tradeand Industry, the Tokyo Stock
Exchange and Informationtechnology Promotion
Agency, Japan

2023 Sustainability Report20Basics

Details

Environmental
Initiatives

SocialInitiatives

Awards Received for ESG Initiatives
Tokio Marine Group strives to improve its initiatives in terms of environmental, social and governance(ESG) criteria, and has received numerous evaluations and awards both in Japan and overseas.

■ Insurance Asia Awards 2021
Our overseas Group companies received the Insurance Asia Awards 2021
(CSR Initiative of the Year) in Singapore and India.

■ The Best Workplaces in Brazil / Best Places to Work in Insurance

We received the Silver Award (Minister of the Environment Award) in theenvironmentally sustainable company category at the 4th ESG FinanceAwards Japan, sponsored by the Ministry of the Environment. Tokio Marine
Group was commended for proactively contributing to addressing
environmental issues and always considering and explaining that
responding to environmental issues and increasing corporate value over the
medium to long term are inseparable.

Our overseas Group companies were awarded The Best Workplaces in Brazil
for the 10th consecutive year and the Best Places to Work in Insurance in the
United States.

Awards for Disclosure Efforts■ Awards for Excellence in Corporate

Disclosure■ PRIDE Index 2022
Tokio Marine & Nichido received a Gold rating in the PRIDE Index 2022, anevaluation index for companies and organizations’ efforts toward sexual
minorities such as LGBTQ+. Developed by the voluntary organization “workwith Pride*,” the PRIDE Index promotes creating workplaces in Japan where
LGBTQ+ people feel comfortable working beyond the boundaries ofcompanies and organizations.
* A voluntary organization that supports the promotion and establishment of LGBTQ+ diversity
management in companies and organizations.

■ Regional Revitalization
We received the Minister’s Commendation for the seventh consecutive year
as a “characteristic example of initiatives” for financial institutions
contributing to regional revitalization.

Sustainability
Performance Data

Awards Received OverseasAwards Received in Japan■ ESG Finance Awards Japan

GovernanceInitiatives

We were selected as an excellent company (firstplace) in the insurance, securities and otherfinancial institution category.

■ NIKKEI Annual Report Awards

We won the Semi-Grand Prix for our Integrated
Annual Report 2022 at the Nikkei Integrated
Report Awards.

■ ESG Finance Awards Japan
In the Environmentally Sustainable Company category of the 4th ESG
Finance Awards Japan sponsored by the Ministry of the Environment, wewere commended as a company with substantial ESG information disclosure.

2023 Sustainability Report21Basics

SpecialFeature 1

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Datasustainability strategy at each Group company. These individuals should embrace the strategy as their

Penetrating Our Sustainability Strategy

own, integrate it into their organizational plans and promote its implementation while involving their

Tokio Marine Group facilitates an understanding of its sustainability strategy and policies among
Group employees and pursues a number of initiatives to further address social issues through its
business activities.

peers. In order to perpetually nurture such individuals, we plan to create a systematic curriculum fortalent development in the theory and practice of our sustainability strategy in fiscal 2023.

Nurturing Individuals to Promote Sustainability

Further Integration of Sustainability Strategy and Business Operations andMeasures for Nurturing Individuals to Promote Sustainability

Tokio Marine & Nichido conducts sustainability training through e-learning for all employees oncea year to promote an understanding of and share the philosophy and policies of its sustainability

To further strengthen and accelerate the integrated management of the sustainability strategy andactivities. In fiscal 2023, the company will also create a talent development curriculum to nurturebusiness operations, it is imperative to establish a robust PDCA cycle anchored in our promotion

key persons assuming the role of promoting its

framework, which includes the establishment of the Chief Sustainability Officer (CSUO) position andsustainability strategy. The curriculum will be designed

the Sustainability Committee. We have made it clear that starting from fiscal 2023, Group companies

to explain the growing importance of sustainability

in and outside Japan will incorporate efforts to address social challenges through business activities

management and its background and provide specificinto their business plans and have been working to establish a process for this purpose.

examples of Japanese companies’ initiatives. By
using an original framework developed in-house, theFurthermore, it is essential to cultivate individuals who can drive the voluntary execution of thecompany will discuss and explore measures to resolve
societal challenges through business activities.

Accelerating the Sustainability Strategy through a PDCA Cycle
Strengthening Communication with Overseas Group Companies
1. Incorporate intobusiness plans
Incorporate initiatives that contributeto addressing societal issues throughbusiness activities explicitly intobusiness plans (promoting energy
eﬃciency in product development
and the oﬃce environment).

1 2
Incorporate intobusiness plans

Establishmechanism toensureeﬀectiveness2. Establish mechanism
to ensureeﬀectiveness(1) Set up follow-up sessions forquarterly action plans(2) Provide support through the

4. Get feedback fromstakeholders
Reﬁne initiatives based on
feedback and incorporate into’

to describe the latest information and required actions regarding sustainability. To instill oursustainability strategy and policies more firmly among all Group companies, we will continue toenhance sustainability-related communication with them.

Tokio Marine Innovation
Program

Sustainability Award

PDCA
cycle
Get feedback fromstakeholders

For overseas Group companies, we provide a quarterly newsletter, “Group Sustainability Update,”

To promote the fostering of a corporate culture inwhich each employee engages in sustainability,
we have been operating the Sustainability Award

Make strategic
disclosures

4 3

throughout Tokio Marine Group, including overseas
3. Make strategic
disclosures

Group companies, since fiscal 2015.

Use sustainability reports andother means to disclose initiative
details and processes

In fiscal 2022, we selected 11 initiatives of Group
companies in and outside Japan for commendation. In fiscal 2021, we established a department
to solicit ideas to tackle and resolve societal challenges as an organization or a team and provide

Develop personnel capable of driving sustainability initiatives

support for turning these ideas into reality to accelerate sustainability initiatives throughout theGroup.
2023 Sustainability Report22Basics

SpecialFeature 2

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Establishment of Policies

Commitment to Respecting Human Rights

In December 2021, we formulated the Tokio Marine Group Basic Policy on Human Rights aligned

Tokio Marine Group is dedicated to respecting human rights across all business endeavors. Guided byprinciples such as the Universal Declaration of Human Rights, the OECD Guidelines for Multinational
Enterprises, the ILO International Labour Standards and the United Nations Guiding Principles on
Business and Human Rights, we have established the Tokio Marine Group Basic Policy on Human
Rights to clearly show our commitment as a Group to respecting human rights.

with the United Nations Guiding Principles on Business and Human
Rights, clarifying our commitment as a Group to respect humanrights as an employer and in our core businesses and value chain.
Additionally, we developed the Responsible Procurement Guidelines
as a normative framework for promoting responsible procurement
and procurement practices throughout the value chain.

We have also established the Human Rights Subcommittee to reinforce our promotion structureand have been conducting risk assessments and impact evaluations to clearly identify high-priority
challenges.

Risk Assessment■ Development of Human Rights Risk Map
We have identified the risks related to human rights issues of key stakeholders relevant to ourIn the future, we will continue to engage in dialogue with our stakeholders, enhancing the sensitivityof our leadership and each employee toward human rights to enable swift response to human rights
issues.

business.
■ Holding a Human Rights Workshop
In November 2022, a human rights workshop was organized and held by members of the Planning

Steps for Initiatives

Summary of Key Initiatives

Policy formulationand establishment ofpromotion structure

Formulated the Basic Policy on Human Rights and established the Human
Rights Subcommittee
Formulated the Policy to Address Environmental and Social Risks
Developed the Responsible Procurement Guidelines

Risk assessments

Formulated a human rights risk map
Held human rights workshops

Impact evaluations

Conducted interviews and surveys with rights holders in the value chain
Performed self-assessments using a checklist of humans rights issues
within the Group

Mitigation measures

Promotion Structure

and Administrative Section. Taking into account the insights of external experts, we conducted anassessment of risks related to human rights within our business areas (insurance underwriting and

Board of Directors

investment, value chain andoperations of the Group).

Report on
progress

Guidance andoversight

Key Areas of Focus for Each Business Area Identified in the Workshop
Business Areas
Insurance
underwriting andinvestment

Insured companies and individuals as insurance
customers and financing recipients

Value chain

Insurance agents
Foreign technical trainees and workers engaged in
automotive maintenance
The Group’s suppliers and service providers

Operations of
the GroupGroup officers and employees

Sustainability Committee

Implemented employee education and training
Established a hotline (internal reporting channel)

Human Rights Working Group
Stakeholder dialogue

Issued the Integrated Report and the Sustainability Report
Engaged in dialogue with external experts

Devise and implement initiatives

Areas of Focus

Impact Evaluation
Based on the results of the workshops, we pinpoint key areas of focus while considering the impact
and potential risks to our stakeholders and conduct an impact evaluation. In fiscal 2022, we focusedon foreign technical trainees engaged in automotive repairs within our value chain. With guidancefrom external experts, we conducted interviews to gain a better understanding of the actual
situation. Based on the findings, we will work on addressing the challenges identified.
2023 Sustainability Report23Basics

SpecialFeature 3

Details

Environmental
Initiatives

Initiatives for Future Generations

Based on the strong belief that “it is our duty to pass on a bright future to the next generation,” wehave positioned “future generations” as a stakeholder and are dedicated to entrusting them witha sustainable environment through endeavors such as mitigating climate change and conserving
biodiversity. In fiscal 2022, we established a cross-functional global task force to discuss initiatives
for contributing to future generations, and the task force identified three key themes and fivepriority initiatives to focus on. In fiscal 2023, we will promote these efforts both domestically andinternationally.
Areas of focus

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

preserve eelgrass beds, which possess a high capacity for absorbing
and sequestering atmospheric CO 2 along with water purification
capabilities. Across the Group, we are committed to advancing
initiatives that safeguard the global environment.
Also in 2022, we established a team at Tokio Marine & Nichido
dedicated to impact investments that harmonize both social and economic value, specificallytargeting investments in natural capital. In addition to renewable energy funds and environmental
funds, we will also commit to investing in a new field, forest funds, in fiscal 2023. While promoting
these endeavors, we are exploring approaches for disclosing information about natural capital andOutline of key initiatives

conducting assessments of the impact (including economic value) of mangrove planting mainly
on ecosystems. We are also looking into disclosures that align with the guidelines set forth by the

Restoration of natural
capital and response to
climate change

Nurturing the leaders of
tomorrow

Conservation of biodiversity and disclosure of
information on natural capital(planting of mangrove trees and otherreforestation efforts, restoration of eelgrass beds)

Taskforce on Nature-related Financial Disclosures (TNFD).

Investment in natural capital (ESG investment and financing)(impact investment targeting natural capital, promotion ofgeneral business investment and financial products)

Board, in which high school students served as advisors to provide

Educational support for children and students and industryacademia collaboration(conducting educational classes and fostering talent throughcollaboration with educational institutions)cherish in our work and how to cultivate a sense of inclusivenessSupport for participation in business activities(providing opportunities for high school students to work as
interns and young employees to participate in management)

Nurturing the Leaders of Tomorrow
Tokio Marine & Nichido hosted a meeting of the Junior Advisory
recommendations from the perspective of a future generation. The
company discussed with them about themes such as values we should
while increasing diversity, and the discussion brought new insight toboth sides. A junior internship program was also held to provide an
opportunity for high school students to experience working at Tokio Marine & Nichido. Participantscommented that they have come to understand they can help society by working for a company andthat the event provided a useful reference when thinking about their future careers. We will continue
to undertake the education of people by engaging future generations in our business activities.

Supporting the Transition to a Circular Economy
Supporting thetransition to a circular
economySupport for waste reduction and recycling through insurance(promoting recycling and reuse of damaged goods throughproperty insurance)

We are engaged in efforts to reduce food waste and promote
recycling through insurance. In Japan, Tokio Marine & Nichido
has formed a consortium to combat food loss with three privatecompanies, collecting data related to food waste and developing

Restoration of Natural Capital and Response to Climate Change

insurance policies to compensate for the costs of food recycling. In

The preservation of biodiversity and the natural environment is a global priority. Tokio Marine

Southeast Asia, we offer cargo insurance that provides compensation

Group started planting mangroves in 1999, and since then we have been engaging in this distinctive

for food products that have lost commercial value due to damage

endeavor as “insurance for the future of the Earth” to pass down a safe and secure environment toto outer packaging in transit on the condition that they will be donated. This supports a circular

future generations (total of 12,261 hectares as of March 31, 2023). In fiscal 2022, we initiated efforts toeconomy by contributing to the promotion of sustainable practices for still-edible food items.
2023 Sustainability Report24

Table of Contents for Details
Tokio Marine Group’s Sustainability

1 Progress of Eight Material Issues(Materiality) ……………………………………… 26

6.1 Creating Social Value ……………………………… 83

7 T okio Marine Group’s GovernanceInitiatives ……………………………………… 156

2 Relationship between Tokio Marine
Group’s Eight Material Issues
and 17 SDG Goals ……………………………… 30

6.2 Respect for Human Rights ………………………… 86

7.1 Response to Environmental and Social Risks … 156

6.3 Promoting Diversity and Inclusion ……………… 100

7.2 Corporate Governance ………………………… 157

6.4 Promoting the Development and3 Stakeholder Engagement …………………… 31……………… 104
Empowerment of Human Resources

7.3 Compliance ……………………………………… 162
7.4 Enterprise Risk Management (ERM) …………… 167

4 Participation in Initiatives …………………… 35
5 Tokio Marine Group’s Environmental
Initiatives ………………………………………… 41
5.1 Creating Environmental Value …………………… 41
5.2 Responding to Climate Change ………………… 46
5.3 Promoting Green Transformation……………… 51

5.4 Responding to Natural Disasters……………… 56

5.5 Protecting the Global Environment…………… 63

5.6 Research on Climate Change andNatural Disaster Risks ……………………………… 72

6 Tokio Marine Group’s Social Initiatives… 83

6.5 Promoting Health and Productivity
Management and Improving Occupational
Safety and Health Standards …………………… 107
6.6 Contributing to the Creation of a Safe andSecure Society …………………………………… 119
6.7 Improving Quality from the Customer’s ……… 142
Perspective

7.5 Responding to Disasters ………………………… 169
7.6 Information Security …………………………… 170
7.7 Cybersecurity …………………………………… 172
7.8 Sustainability in the Value Chain ……………… 173

8 Sustainability Performance Data ……… 180
Third-Party Assurance ……………………………… 189
GRI Standards Content Index ……………………… 190
Recognition about ISO 26000 ……………………… 197
Overview of Group Sustainability Reporting …… 199
Editorial Policy ……………………………………… 200

2023 Sustainability Report25Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

1 Progress of Eight Material Issues (Materiality)
Tokio Marine Group is steadily promoting various initiatives by continuing to implement an effective

to penetrate our strategies and policies within the Group as the number of examples of solving social

PDCA cycle, such as setting medium- to long-term sustainability goals (non-financial KPIs). The tableissues through our core business increased globally. In fiscal 2023, we will advance the integration of ourbelow shows the progress of the PDCA cycle for each of the eight material issues. In fiscal 2022, we worked

sustainability strategies and businesses, such as incorporating sustainability strategies into business plans.

Material issues( ★ Designated as priority issues)

1

Value creation

Value creation

What are the Group’s goals (qualitative or quantitative)?

Achievements so far and future plans

Reduce CO2 emissions from the Group’s
operations and meet RE100 criteria

Targets for fiscal 2030
11) Reduce the Group’s greenhouse gas emissions by 60%* comparedwith fiscal 2015
2) Have renewable energy account for 100% of electricity consumption
at main workplaces*23) Switch all company-owned vehicles to electric vehicles (Tokio
Marine & Nichido, Tokio Marine & Nichido Life)

1) Fiscal 2022 results: 34% reduction (compared with fiscal 2015)
2) Adopt renewable energy at workplaces in Japan, the United States and Europe (Tokio
Marine & Nichido, Tokio Marine & Nichido Life, PHLY, TMK, etc.)
Fiscal 2022 results: 26% (compared with fiscal 2020)
3) Tokio Marine & Nichido and Tokio Marine & Nichido Life are gradually switching toelectric vehicles.

Realize carbon neutrality throughengagement with investees and corporate
insurance customers

Target for fiscal 2050: Virtually zero greenhouse gas emissions(including at insurance customers and recipients of investments andloans)How the Group can contribute

Take climate action★

Achieve carbon neutrality by offering
products and services and providing
investments and loans

Carry out mangrove planting to combat
global warming (through carbon fixation)and mitigate damage from environmental
disasters*1 Based on our business activities (Scope 1, 2 and 3 (Categories 1, 3, 5 and 6))

Promote engagement on climate change and the environment (Tokio Marine & Nichido,fiscal 2022 results: dialogue with more than 250 companies)
Create decarbonization plans and strategies for underwriting and investment/financing
portfolios

Expand green transformation (GX)-related insurance products andsolutions
Increase written premium from GX-related insurance products byaround 7 billion yen in fiscal 2023*3 (Tokio Marine & Nichido Fire;
compared with fiscal 2020)

GX-related insurance products (fiscal 2022 results: approximately 35 billion yen)
Fiscal 2022 result: Increased written premium in GX-related insurance products by 6.3
billion yen (compared with fiscal 2020)

Continue to facilitate green investing

Implemented sustainability-themed investments and loans (balance as of the end of fiscal
2022: approximately 109 billion yen)
Established impact investment limit (approximately 13 billion yen committed as of the endof fiscal 2022)
Strengthened commitment to and involvement in renewable energy funds (approximately
62 billion yen committed as of the end of fiscal 2022)

Continue to maintain carbon neutrality
Surpass 300 billion yen in cumulative economic value from mangrove
planting by fiscal 2038

Achieved carbon neutrality in fiscal 2022 (10th consecutive year since fiscal 2013)*2 EVs, PHVs, HVs, etc.

*3 Net premiums written

2023 Sustainability Report26Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Progress of Eight Material Issues (Materiality)
Material issues( ★ Designated as priority issues)2Improve disaster
resilience ★

Value creation

Value creation

What are the Group’s goals (qualitative or quantitative)?

Achievements so far and future plans

Enhance response to natural disasters

Develop products and services that provide swift insurance paymentsin the event of a large-scale disaster

Reduce time for insurance payment by automating the payment process (from fiscal 2022)

Provide security for customers before andafter disasters in ways besides insurance
payments

Collaborate with various industries and companies on disasterprevention and mitigation projects

The number of member companies in the disaster prevention consortium CORE has
increased to 100, and the number of working groups has expanded to 10 (as of June 30,
2023)

Increase fire insurance profit by more than 45 billion yen in fiscal 2023
(Tokio Marine & Nichido business unit profit compared with fiscal
2020))

Increased profit in fire insurance in fiscal 2022 (up by 36.6 billion yen compared with fiscal
2020); cumulative improvement of approximately 60 billion yen projected in fiscal 2023

Develop and provide products and services useful for disasterprevention/mitigation, early recovery, etc.

Conducted joint research into measures for addressing issues such as aging condominiums
with the University of Hawaii
Plan to provide Real Time Hazard, which captures flood depth with AI analysis of CCTV
footage and sends alert information (fiscal 2023)
Launched an initiative in South Africa promoting adoption of fire insurance and fire alarms
bundled together for low-income housing (fiscal 2022)

Continue providing support to BCP

Cumulative number of agreements with governments (as of the end of February 2023)• 42 prefectures• 13 major cities• 76 municipalities

Address asset building and savings needs
in response to longevity risks (Develop andprovide new healthcare services)

Increase revenue by 20-30 billion yen* in the healthcare domain in
fiscal 2023 (Tokio Marine & Nichido)
Increase the CAGR of new policy premiums by about 5% in fiscal 2023
(Tokio Marine & Nichido Life)

Established a preparatory company to conduct a proof of concept for new business in thehealthcare domain (April 2023)
Expanded ancillary insurance services (including services for early detection of cancer anddirect payment of benefits to affiliated hospitals from February 2022)
Developed and provide new solutions for disease precursor detection (validation
experiments for early detection using
Apple Watch started in October 2021)
Achieved CAGR of 11% in new policy annualized premiums at Tokio Marine & Nichido Life infiscal 2022 (compared with fiscal 2020)
Established a health promotion consortium in China and collaborating with Japanese andChinese companies to develop products and services that enhance healthcare

Widely promote services for facilitating
Health and Productivity Management

Continued selection in the Health & Productivity Stock Selection
Continue health management support (Tokio Marine & Nichido)

Included in the Health & Productivity Stock Selection 2023 (for the eighth consecutive year)
Provided health management support to approximately 2,000 companies (in fiscal 2022)

How the Group can contribute

Establish sustainable fire insurance systems

Assist with business continuity planning (BCP)in partnership with government bodies andbusinesses3Support people’s healthy
and enriching lives ★
1*1 Net premiums written

2023 Sustainability Report27Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Progress of Eight Material Issues (Materiality)
Material issues( ★ Designated as priority issues)4Promote and support
diversity and inclusion ★

How the Group can contribute

Promote diversity and foster an inclusive
corporate culture

Value creation

Value creation

What are the Group’s goals (qualitative or quantitative)?

Achievements so far and future plans

Promote and support diversity and inclusion through the Diversity
Council, etc.
Continue to conduct culture and value surveys
KPIs
1) Percentage of female directors and Audit & Supervisory Board
members: 30% (fiscal 2027 target)
2) Percentage of female managers at Tokio Marine & Nichido: 30%(fiscal 2030 target)
3) Percentage of female sub-leaders at Tokio Marine & Nichido:
Maintain above 50%

Carry out human rights due diligence and improvement initiatives
based on the UN Guiding Principles on Business and Human Rights

Create and publish a human rights due diligence and improvement policy in line with the
UN Guiding Principles on Business and Human Rights, etc. (December 2021)
Further promote human rights due diligence among employees, our businesses (insurance
underwriting, investment and financing) and the value chain

Accelerate data strategies upon the establishment of core datacompany Tokio Marine dR in July 2021 (expand provision of pre- andpost-incident assurance)

Launch specific initiatives for the comprehensive disaster prevention and mitigation
solutions business, such as Real Time Hazzard, with the disaster prevention consortium
CORE which began in April 2022 led by the Group as its engine (from August 2023)
Develop data-driven products in collaboration with Tokio Marine dRStarted accident prevention and loss reduction efforts in the United States using telematics
and through the distribution of and temperature sensors

Address increasing cyber risks amid digitaladvancements

Increase revenue by around 5 billion yen through cyber risk insurance
by fiscal 2023 (Tokio Marine & Nichido; compared with fiscal 2020)*2

Achieve double-digit growth in cyber-risk insurance each fiscal year (Tokio Marine &Nichido)Started offering incident response services (from April 2022, the first in the industry)
Expanded emergency hotline services and started responding to cyber-related issues 24/7
(from April 2022)

Use digitalization to support small andmedium-sized enterprises (SMEs)

Increase revenue by 15-25 billion yen through insurance for small andmedium-sized enterprises by fiscal 2023 (Tokio Marine & Nichido; same*2
as above)

Promote additional compensation based on specially packaged products for small andmedium-sized enterprises
Launched a website (BUDDY+) that offers one-stop solutions from information provision toissue resolution, strengthening our approach to customers

Apply digitalization to raise the efficiency ofoperations

Enhance the efficiency of operations with a one-percentage-point
improvement in the combined ratio by fiscal 2023 (Tokio Marine &Nichido)Combined ratio of 92.5% as per the fiscal 2023 plan (Tokio Marine & Nichido,
0.9-percentage-point improvement from fiscal 2020 on a normalized basis)

Share best practices group-wide and carryout improvement initiatives

5F acilitate and foster
innovation throughdigitalization

Created the Diversity Council and the Group Diversity and Inclusion Officer (CDIO) position(fiscal 2021)
Established D&I communities in Japan, Asia, Europe and the United States (fiscal 2022)*1
Scored 4.4 out of 5 in the culture and value survey in fiscal 2022
Recent progress:
1) Percentage of female directors and Audit & Supervisory Board members: 20% (Tokio
Marine Holdings, following the 2023 Ordinary General Meeting of Shareholders)
2) Percentage of female managers at Tokio Marine & Nichido: 11.2% (realized 31.6% on a
global basis; as of April 2023)
3) Percentage of female sub-leaders at Tokio Marine & Nichido: 58.9% (as of the end of fiscal
2022)

Use digital data in a more sophisticatedmanner to cover new risks and provide
security to customers before and after eventsin ways besides insurance payments*1 Totals for Tokio Marine Holdings and its Group companies worldwide*2 Net premiums written

2023 Sustainability Report28Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Progress of Eight Material Issues (Materiality)
Material issues( ★ Designated as priority issues)

6

7

8

Protect the naturalenvironment

Provide education tochildrenDisclose highly
transparent and timely
information

How the Group can contributeConserve biodiversity and wetlands throughactivities such as mangrove reforestation andmarine protection efforts

Value creation

Value creation

What are the Group’s goals (qualitative or quantitative)?

Achievements so far and future plans

Maintain carbon neutrality
Surpass 300 billion yen in cumulative economic value from mangrove
planting by fiscal 2038

Achieved carbon neutrality in fiscal 2022 (10th consecutive year since fiscal 2013)

Promote social contribution, such as
implementing the Green Gift Planet GENKI
ProgramHave 100% of employees participate in social contribution activities

100% of employees participated in social contribution activities (fiscal 2022)

Provide various educational programsContinue providing Green Lessons

Green Lessons were held approximately 900 times and attended by 59,000 people(cumulative total as of March 31, 2023)

Continue providing Disaster Prevention Lessons

Disaster Prevention Lessons were held approximately 1,195 times and attended byapproximately 77,000 people (same as above)
Chinese version of Disaster Prevention Lessons held 25 times and attended byapproximately 1,800 people (same as above)

Continue providing Group Work on Managing Risks and Opportunities

Group Work on Managing Risks and Opportunities held 59 times and attended byapproximately 1,900 people (same as above)

Continue implementing StreetWise Finance, a financial and insurance
literacy education program

Approximately 170,000 people participants (cumulative total as of June 30, 2023)

Create pillars other than those above

Creation of new pillars to contribute to future generations

Properly disclose information bystrengthening compliance with the Task
Force on Climate-related Financial Disclosures(TCFD) and other guidelines

Held themed presentation: “Tokio Marine Group’s Contribution and Growth Strategy in
the Renewable Energy Market (June 2021)” and “Our Climate Strategy & the TCFD (January2021)” held
Disclose information based on the TCFD recommendations throughintegrated annual reports, sustainability reports, etc.

Revised our “Basic Approach to Climate Change” on September 30, 2022
Released the Human Capital Report and TCFD Report 2023 (June 2023)
Looked into disclosing information related to natural capital in line with the TNFD
framework

2023 Sustainability Report29Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

2 Relationship between Tokio Marine Group’s Eight Material Issues and 17 SDG Goals
Tokio Marine Group provides various products and services and is undertaking initiatives to realize a sustainable society.
The eight material issues the Group has defined are closely aligned with the 17 SDG goals. We will strive to contribute to the attainment of the SDGs by resolving these material issues.
Eight material issues( ★ Four designated as priority issues)

1

Take climate action ★

17 SDG goal

Eight material issues(★ Four designated as priority issues)

17 SDG goal

7. Affordable and clean energy(Ensure access to affordable, reliable, sustainable and modern
energy for all)4

Promote and support
diversity and inclusion ★

5. Gender equality(Achieve gender equality and empower all women and girls)

13. Climate action(Take urgent action to combat climate change and its
impacts)5F acilitate and foster
innovation throughdigitalization

8. Decent work and economic growth(Promote sustained, inclusive and sustainable economic
growth, full and productive employment and decent work
for all)2

Improve disaster
resilience ★

11. Sustainable cities and communities(Make cities and human settlements inclusive, safe, resilientand sustainable)

3

S upport people’s healthy
and enriching lives ★

1. No poverty(End poverty in all its forms everywhere)

9. Industry, innovation and infrastructure(Build resilient infrastructure, promote inclusive andsustainable industrialization and foster innovation)

6P rotect the naturalenvironment

2. Zero hunger(End hunger, achieve food security and improved nutritionand promote sustainable agriculture)

14. Life below water(Conserve and sustainably use the oceans, seas and marine
resources for sustainable development)

3. Good health and well-being(Ensure healthy lives and promote well-being for all at all ages)

15. Life on land(Protect, restore and promote sustainable use of terrestrial
ecosystems, sustainably manage forests, combat
desertification, and halt and reverse land degradation andhalt biodiversity loss)

10. Reduced inequalities(Reduce inequality within and among countries)

12. Responsible consumption and production(Ensure sustainable consumption and production patterns)
16. Peace, justice and strong institutions(Promote peaceful and inclusive societies for sustainable
development, provide access to justice for all and build
effective, accountable and inclusive institutions at all levels)

6. Clean water and sanitation(Ensure availability and sustainable management of waterand sanitation for all)7P
 rovide education tochildren

4. Quality education(Ensure inclusive and equitable quality education andpromote lifelong learning opportunities for all)8

D isclose highly transparent
and timely information

17. Partnerships for the goals(Strengthen the means of implementation and revitalize theglobal partnership for sustainable development)

2023 Sustainability Report30Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

3 Stakeholder Engagement — Promoting Initiatives Together with Various Stakeholders
For implementing high-quality management practices, Tokio Marine Group believes that building mutual
trust through dialogues with all stakeholders including customers is crucial. We work to identify issuesof Group companies and promote a deeper understanding of Tokio Marine Group’s thinking, values andStakeholders
Categoryvarious types of initiatives based on customer opinions (customer compliments, complaints and otherand investors, dialogue with agents, communications with employees and ESG rating agencies andopinion exchange with external experts (Sustainability Dialogue).

Category

Subcategory

Engagement
PolicyWe continually provide customers and society
with “safety and security.” We will continue
to promptly and appropriately provide
even higher quality products, services andPolicyholders
processes that meet the expectations of ourcustomers.
Customers

Business
partners

Shareholders

We aim for healthy mutual growth anddevelopment with our business partners.
To assure transparent and fair management, wework for timely and appropriate information
disclosure, while implementing a variety ofmeasures to realize constructive dialogue
with domestic and overseas shareholders andinvestors.

Naruhodo Insurance Guide (Basic)

Basicknowledge of
insurance

Tokio
MarineGroup
employees

Insurance
agentsWe emphasize mutual trust with our agents andcombine our strengths to meet the needs ofcustomers while cooperating to promote mutuallysound growth and development.

Employees(in Japanese)N aruhodo Insurance Guide (LifeEvents) (in Japanese)

CustomersatisfactionlevelsResponse to Customer Feedback

Business
partners

Sustainability in the Value Chain

Dialogue withshareholders
and investors

Disclosure
policyWe respect each and every employee as
individuals and recognize their dignity andvalue, and pay careful attention to ensurethat they can fulfill their responsibilities totheir families. We aim to be a professionalgroup with very distinctive characteristics
while cooperating to ensure all colleagues
maximize their performance with integrity andcompassion.

Links

Contents

PolicyAs a good corporate citizen, we strive to
be trusted by all people and society while
contributing to the creation of a society wherea diverse group of people can live healthy lives
with a sense of security. We also make efforts
Local
to soundly protect the global environment forcommunities future generations. In addition, by partneringwith NPOs, etc., we conduct a mangrove
planting project.

opinions and suggestions) received by Group companies, and through engagement with shareholders

Stakeholders

Subcategory

Engagement

EmployeesatisfactionlevelsDialogue

Cooperation
with insurance
agentsResearch
institutions

Society

Stakeholder Engagement (Dialogue
with Shareholders and Investors)
Corporate Governance (Relations
with Shareholders and Other
Stakeholders)

To respond to disasters caused by climatechange, we will enhance our natural disasterrisk assessment through industry-academia
collaboration and will provide products andservices for stable responses to disasters in the
future.

To respond to global-scale issues such as climatechange, poverty, human rights and resourceand energy issues and help create a secure,safe and sustainable future, we will collaborate
External
with governments and industry organizations
initiatives,and participate in initiatives that include theorganizations,
United Nations Global Compact and the United
governments
Nations Environment Programme FinanceInitiative (UNEP FI), and undertake activities
in cooperation with a variety of stakeholders
toward resolving these issues.

Links

Contents
AwardsExternal Evaluations

Initiatives

Participation in Initiatives

Sustainability
Dialogue

Stakeholder Engagement(Sustainability Dialogue)

Mangrove
Planting
Project

Protecting the Global Environment
through Products and Services (Green
Gift Project: Mangrove Planting)

ClimateResearch on Climate Change andchange andnatural disaster Natural Disaster Risks
risk researchParticipation in
Participation in Initiatives
initiatives

Information Disclosure

Improving Employee Engagement

Media
Penetrating our Sustainability
Strategy

Collaboration with Agents
Education and Training Systems forAgentsFuture generations

Based on the Tokio Marine Group Sustainability
Charter that states, “We intend to disclose
information timely and appropriately and topromote dialogue with all our stakeholders toensure effective corporate management,” wewill cooperate with the media and carry out
fair, timely and proper disclosure of company
information to gain the trust and understandingof our stakeholders.

We aim to pass on a sustainable global
environment to future generations.

News release

News release

Tokio Marine
Holdings
corporate
website(Sustainability
page)Tokio Marine Holdings Corporate
Website (Sustainability page)

Experiencebased
environmental
protection
activities

Protecting the Global Environment
through Products and Services(Activities to Protect Forests and theSea)2023 Sustainability Report31Basics

Details

Environmental
Initiatives

Sustainability Dialogue

GovernanceInitiatives

Sustainability
Performance Data

<Points to be noted in promoting engagement>
In the name of the “Sustainability Dialogue,” Tokio Marine
Group regularly invites experts to share the latest knowledge
on sustainability with management and to engage in dialogue(opinion exchange and discussion) about Tokio Marine
Group’s sustainability initiatives. We utilize their opinions andsuggestions in formulating our sustainability strategies andpromoting related initiatives.
On December 14, 2022, we invited Katsuya Kikuchi, a member

1) Fill a perception gap: Filling a perception gap is most important in an early stage of engagement.
2) Provide solutions: Provide data, information and analysis tools and find collaboration partners needed
to formulate and execute a problem-solving plan3) Provide finance functions: Provide various finance functions in addition to investment, financing andinsurance4) Support disclosure and reporting: Supporting disclosure is particularly important in decarbonization
engagement, as companies, even non-listed companies, are required to disclose a broad range of
information on the impact of Scope 3 emissions.
5) Empathize with customersof Tokio Marine Asset Management Co., Ltd., and held a study

3 Transition and value chain (Scope 3)

session for directors on the theme of the “Ways of Engagement

A considerable amount of investment is needed for low-carbon efforts globally, mainly in emerging

to Support Transition to Decarbonization.” The following

countries in Asia. As such, in addition to facilitating green investment, growing importance is now

highlights the key points of the session.

attached to the roles of finance to promote investment in companies undertaking innovation in the fieldof the Sustainability Standards Board of Japan and Director

Katsuya Kikuchi

SocialInitiativesof climate action toward steady transition and a drastic reduction in greenhouse gas emissions. Clearer

Member of Sustainability Standards Board of Japan
Director, General Manager of Responsible Investment Department andGeneral Manager of Alternative Responsible Investment Department,
Tokio Marine Asset Management Co., Ltd. (at the time of study session)

engagement strategies are needed with regard to transition finance. Finance also plays a significant part1 Decarbonization and engagement

4 Initiatives of Tokio Marine & Nichido

Even though Japan’s efforts toward decarbonization are said to lag other countries, participation ofJapanese companies in global frameworks is in the world’s top group together with the United States andthe United Kingdom, ranking first and second, respectively, for the Task Force on Climate-related Financial
Disclosures (TCFD) and Science Based Targets (SBI) initiatives. The stakeholders’ perspective is essential
for decarbonization, and engagement, which is a form of collaboration with stakeholders, is important inrealizing decarbonization. Engagement is also included in the company evaluation criteria of the Carbon
Disclosure Project (CDP) Supplier Engagement Rating, and the weight of “Supplier Engagement” is 35% in
the rating.

2 What is engagement?
In the policy trends in the past decade, company and investor engagement has been consistently at thecore of efforts to revitalize Japan’s economy. Engagement is a key word related to collaboration between
not only business managers and investors but also various other stakeholders and is an effort drawing

from the perspective of supply chains, from upstream to downstream.

I highly value that the company has specified “engagement” as a large category of its climate action policy
and is disclosing information on specific efforts in its core business and examples of collaboration withpartners. From the market perspective, it is important to continuously provide information and disclose as
much quantitative (impact) information as possible. In its current information disclosure, the connectivity
between financial and non-financial information serves as a key word, but it will be required to show howeach initiative is linked to corporate value.

5 Evaluation in the capital market and future outlook
The formulation of unified standards for sustainability disclosure is globally underway. Sustainability
disclosure will become legally mandated in the future, rather than a voluntary effort, and will further
increase its importance in company evaluation. In the future, the capital cost will go up or down
depending on companies’ sustainability initiatives and related disclosure.

attention in terms of decarbonization.
2023 Sustainability Report32Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Dialogue with Investors

Dialogue with Stakeholders

Dialogue with Institutional Investors
Dialogue with Shareholders and Investors

The Company holds financial results conference calls, IR conferences and theme-focused strategy
conferences both onsite and live streamed worldwide on the Internet, and is thereby engaging in dialogue

Fundamental Policy

with shareholders and investors around the world.

Tokio Marine Holdings will strive to enhance trust by providing information to the capital markets in atimely, fair and continuous manner while ensuring transparency and accountability in its disclosures,and to promote understanding of its efforts to increase corporate value and accurate assessment of theCompany. Furthermore, through constructive dialogue between management and shareholders andinvestors, the Company will gain an appropriate understanding of how it is viewed and the state of thecapital markets and provide that understanding and feedback to management and within the Company
to lead to the improvement of management itself and further enhance corporate value.
In April 2023, we established the Global Communications Department as an organization responsible
for aligned, interdepartmental investor relations (IR), shareholder relations (SR) and public relations (PR)operations, with the aim of further strengthening dialogue with a wide range of stakeholders, including
capital markets, shareholders, the media and employees.

Management

To be the company
most trusted by thecapital markets

minority shareholders. During the conference, the Outside Director responded from an objective
standpoint to questions about the Board of Directors discussions and how he regards Tokio Marine
Group from his position as Outside Director. Participants commented that it was a valuable opportunity
to listen firsthand to an Outside Director, that they had deepened their understanding of the Company’s
management and that they would like to see more opportunities of this kind in the future.
We also continuously hold briefings focusing on topics of high interest in capital markets. In fiscal 2022,
Special IR Meetings were held in London and New York City to provide presentations by the CEOs andexecutives of major subsidiaries in Europe and the United States and Q&A sessions with participants.
In Japan, we also held two special briefings on overseas subsidiaries, featuring the CEOs of overseas
subsidiaries as speakers, and received favorable responses. We have also resumed face-to-face dialogue,
including overseas IR activities in North America, Europe and Asia. In fiscal 2022, we held dialogues

Disclosure and Dialogue

To Be a Good
Company

The IR conference held in May 2023 was joined by an Outside Director who is regarded as representing

with approximately 530 corporate investors in Japan and overseas while improving the quality of these
dialogues.

CapitalMarkets

IR conference video (May 2023) (in Japanese)

Feedback

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Environmental
Initiatives

SocialInitiatives

Dialogue with Individual Investors

GovernanceInitiatives

Sustainability
Performance Data

Engagement with the Local Community

We hold conferences for individual investors every year, featuring the Group CEO. Since fiscal 2022, wehave held these briefings in Osaka, Fukuoka and Aichi in addition to Tokyo. The Company provided easy-

Tokio Marine Group promotes local community and social contribution activities in collaboration

to-understand explanations of the Group’s management strategy and shareholder return, which are ofwith NPOs committed to solving various issues in local communities. For the Mangrove Planting

great interest to individual investors. These conferences received about a 90% participant satisfaction rate.

Project, one of the most notable initiatives undertaken by Tokio Marine & Nichido, we have formed
a long-term partnership with the NGO Action for Mangrove Reforestation (ACTMANG) specializing

Also, in response to requests from many individual investors for stock splits, we implemented a three-way

in mangrove planting, Organization for Industrial, Spiritual and Cultural Advancement-International

stock split in October 2022. We will continue to engage in careful dialogue with investors with the aim of(OISCA) and International Society for Mangrove Ecosystems (ISME). Besides planting mangroves,

expanding our investor base and Tokio Marine fan base.

we also cooperate in improving environmental awareness and promoting industries in designatedConference video (in Japanese)

planting regions, such as providing environmental education and workshops for local residents andchildren.

Feedback
The Company is also making efforts to report the opinions obtained through dialogue with shareholders
and investors widely to management and other members of the Company, and to reflect them in the
improvement of management. Many of our employees have no contact with capital markets in their
daily work, but through IR activity reporting sessions, they come to understand the voices of the capital
markets, the evaluation of the Company and the connection between their work and the capital markets.
This has a positive impact on their own motivation and growth and, as a result, a virtuous circle ofcompany growth is also created.
In fiscal 2022, we also used remote tools to share and interact with 2,748 Group employees.

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Initiatives

4 Participation in Initiatives
Tokio Marine Group supports and respects the Universal Declaration of Human Rights, the ILO’s

SocialInitiatives

Sustainability
Performance Data

Sustainable Finance and Insurance■ UNEP FI Principles for Sustainable Insurance (UNEP FI-PSI)

International Labour Standards and the Organisation for Economic Co-operation and Development

More than 400 financial institutions around the world participate in the
United Nations Environment Programme Finance Initiative (UNEP FI), an
initiative that surveys, researches and puts into practice businessapproaches that consider economic development, the environment andsustainability.

(OECD) Guidelines for Multinational Enterprises. Also, Tokio Marine Group will contribute to the creationof a safe, secure and sustainable future through participation in such initiatives as the United Nations
Global Compact (UNGC), the United Nations Environment Programme Finance Initiative (UNEP FI), UNEP
FI Principles for Sustainable Insurance (UNEP FI-PSI) and the United Nations Principles for Responsible
Investment (PRI).

GovernanceInitiatives

In January 2022, Tokio Marine Group changed the UNEP FI signatory body from Tokio Marine & Nichido to
Tokio Marine Holdings to promote sustainability throughout the Group. As a corporate group, it promotes
Human Rights, Labor, the Environment and Anti-Corruption■ The United Nations Global Compact (UNGC)

environmental and sustainability initiatives through its business activities. The Group participated in
the PSI’s 10th anniversary event in June 2022 and contributed to its success. An example of the Group’s
participation is the congratulatory video message from Shuzo Sumi, the current counselor of Tokio Marine& Nichido and the president when the company became a signatory of PSI. Tokio Marine Holdings also
sent a panelist to the panel discussion, which was part of the Asia Pacific Roundtable held in South Korea

The United Nations Global Compact (UNGC) is a voluntary initiative forparticipation by companies in the creation of a global framework underwhich companies exercise responsible and creative leadership to act as
good members of society to realize a sustainable society.

in May 2023, on the role of financial institutions in decarbonization in the Asia-Pacific region.
UNEP FIThe ideas and contents of the Ten Principles concerning human rights, labor, the environment and anticorruption advocated by the UNGC coincide with Tokio Marine Group’s own approach to sustainability
as well as our Sustainability Charter. Therefore, Tokio Marine Holdings has been a signatory to and has
expressed its support for the UNGC since 2005.
Tokio Marine Holdings is participating in the United Nations Global Compact Network Japan (GCNJ) andin fiscal 2022 participated in such initiatives as the Disaster Prevention and Mitigation Working Group

The Principles for Sustainable Insurance (PSI) of UNEP FI is a working groupthat surveys, researches and executes ESG initiatives in the insurance
industry.

and the WEPs Working Group, among others. From fiscal 2023 and beyond, Tokio Marine Holdings will
promote these initiatives in the “Participant” capacity.
* Tokio Marine Holdings summarizes and reports every year on the status of initiatives for addressing the Ten Principles of
the United Nations Global Compact.

Communication on Progress (PDF/663.3KB)
The United Nations Global Compact

Tokio Marine & Nichido has not only participated in the formulation of PSI but also supported its intent
and policies and became its founding signatory in June 2012. The company has since been promoting
insurance industry initiatives that consider ESG issues together with insurance companies all around theworld.
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SocialInitiatives

Since fiscal 2018, Tokio Marine & Nichido has participated in the PSI Task Force on Climate-related

GovernanceInitiatives

Sustainability
Performance Data

Sustainable Investment

Financial Disclosure (TCFD) Insurer Pilot Working Group and was involved in creating the framework forclimate-related financial disclosure in the global insurance industry based on the TCFD recommendations.
The company was also instrumental in the creation and publication of the “Insuring the climate transition”■ Principles for Responsible Investment (PRI)

report in January 2021. In June 2022, we participated in PSI’s 10th anniversary event and appealed to the
The Principles for Responsible Investment (PRI) is an initiative devised mainly
by UNEP FI and the UNGC, which expresses and puts into practice stances andpolicies that consider ESG issues in investment decisions by financial
institutions and institutional investors.

insurance industry to contribute to The Decade of Action, which under the UN calls for the acceleration of
ESG initiatives toward 2030.
PSI of UNEP FI■ Ministry of the Environment Principles for Financial Action towarda Sustainable Society (Principles for Financial Action for the 21st Century)
Based on a suggestion from the Ministry of the Environment’s Central
Environment Council Expert Committee on Environment and Finance, thePrinciples for Financial Action for the 21st Century were compiled in 2011 by
Japan’s Environmental Financial Action Principles Drafting Committee, whichfeatured the participation of a wide range of financial institutions, with theaim of broadening the circle of initiatives for environmental financing. The
Principles for Financial Action are aimed at enabling domestic financial
institutions to promote optimal initiatives in their main businesses foraddressing a host of issues they face directly such as environmental, socialand governance issues. Under these principles, the direction of which aligns
with UNEP FI and the PRI, financial institutions seek to fulfill their necessary
responsibilities and roles for the formation of a sustainable society based on
their concerns about the future of the earth.

Within Tokio Marine Group, Tokio Marine & Nichido actively participated as a member of the drafting
committee and the six Group companies (Tokio Marine & Nichido, Tokio Marine & Nichido Life Insurance,
Nisshin Fire & Marine Insurance, E. design Insurance, Tokio Marine Millea SAST Insurance and Tokio Marine
Asset Management) have agreed with the intent of and signed the Principles. (As of August 31, 2022)
In the future as well, Tokio Marine Group will continue to promote the kind of initiatives that the financial

The following Tokio Marine Group companies agree with the thinking of the PRI and have signed thePrinciples.
Signatories (Timing)

Initiatives

Tokio Marine
Asset Management(April 2011)

Signed the UN-supported PRI initiative, accepting these Principles as an asset managementcompany. The company established a responsible investment committee composed of
the chief asset managers of each asset class, as well as a responsible investment group.
Through these steps, the company develops basic policies, processes and systems
concerning responsible investment and undertakes initiatives that take into account ESG
issues during investment analysis, product development and exercise of voting rights.

Tokio Marine & Nichido(August 2012)

Tokio Marine & Nichido has endorsed the concept of the PRI and signed on as an asset
owner. The company has established an ESG investment and financing policy and has
been promoting initiatives for ESG engagement and ESG integration.

■ Japan Sustainable Investment Forum
Japan Sustainable Investment Forum (JSIF), a not-for-profit organization (NPO),
carries out activities to promote the spread and development in Japan ofsustainable investment and ESG investment, which are actively undertaken in
Europe and the United States. JSIF functions as a venue for information andopinion exchanges, discussions and investigative research among persons
involved with ESG investment and aims for the sound development of ESG
investment and for the building of a sustainable society.

and insurance industries can provide support for to create a sustainable society.
Principles for Financial Action for the 21st Century

As members of JSIF, Tokio Marine & Nichido and Tokio Marine Asset Management are participating ininvestigative research on ESG investment and in initiatives for the sound development of this investment.
Japan Sustainable Investment Forum (JSIF)

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Climate Change and Nature-related Disasters

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ The Geneva Association

Management system for lobbying activities and trade association memberships
The Geneva Association is an insurance industry think tank composedof approximately 70 executives from major insurance companies
around the globe.

■ Partnership for Carbon Accounting Financials (PCAF)
The PCAF is an international initiative to develop methods formeasuring and disclosing GHG emissions associated withinvestment and financing, and Tokio marine & Nichido joined in
January 2022. To date, the organization has developed methods
for measuring and disclosing GHG emissions related to listed
stocks and corporate bonds, commercial loans and unlisted
stocks, project finance, commercial real estate, mortgage loans
and auto loans. In November 2022, the PCAF developed andmade available a method for measuring GHG emissions related
to insurance underwriting portfolios.

Tokio Marine & Nichido aims to hone its technology related to the measurement and analysis of GHG
emissions and improve the quality of dialogue (engagement) with its recipients of investments andAs a member of the Executive Committee of the Geneva Association, Tsuyoshi Nagano, Chairman of Tokio
Marine Holdings, leads and supports surveys and research on important insurance industry issues (climatechange and the environment, health and aging society, socioeconomic resilience, new technologies
and data, cyber issues, compensation liabilities, public policies and regulations, etc.) handled by the
association. At the same time, as Joint-Chairman of the “Climate Change and Emerging Environmental
Topics” working group, he is taking the lead in undertaking surveys and research on climate change andnatural disaster risk and disseminating related information to society.

■ ClimateWise

financing to achieve decarbonization.

■ The United Nations Office for Disaster Risk Reduction (UNDRR)— Private Sector Alliance for Disaster Resilient Societies (ARISE)

In November 2015, the United Nations Office for Disaster Risk
Reduction (UNDRR), a strategic framework for disaster risk
reduction adopted by United Nations member countries in 2000,
launched the Private Sector Alliance for Disaster Resilient Societies(ARISE) toward the strengthening and reorganization of the Private
Sector Partnership for Disaster Risk Reduction (DRR-PSP) for
disaster prevention that Tokio Marine & Nichido joined in 2014.

ClimateWise is an initiative in which approximately 30 leading insurers
in Europe jointly carry out studies and research on various risks andopportunities related to climate change and make recommendations
toward reducing the risks that climate change imposes on economic
and social life. The initiative is operated by the University ofCambridge Institute for Sustainability Leadership (CISL).

Participants from Tokio Marine Group include Tokio Marine Kiln and Tokio Marine HCC International. Tokio
Marine Kiln Group CRO Vivek Syal serves as a member of the ClimateWise Insurance Advisory Council.
Tokio Marine Group will continue to promote efforts toward mitigating and adapting to climate change inaccordance with the seven ClimateWise Principles.

Tokio Marine & Nichido participated in the 7th Global Platform Meeting (GP2022) and Stakeholder Forum
hosted by UNDRR in May 2022 and made a presentation on “Insurance Companies as Risk Managers.”

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Environmental
Initiatives■ Asia-Pacific Financial Forum (APFF)

The Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Process(FMP) established the Asia-Pacific Financial Forum (APFF) in 2013 tofacilitate public-private partnerships regarding many different financial
issues within APEC. Tokio Marine & Nichido participates in the APFF as amember and leads discussions on disaster risk financing and insurance(DRFI)* and the dissemination of climate-related disclosure conducive tothe promotion of sustainable financing.

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ Insurance Development ForumThe Insurance Development Forum (IDF) was established in 2016 as apublic-private partnership led by the private insurance industry to
promote the widespread use of insurance schemes in countries
vulnerable to natural disasters.

Tokio Marine Group has been participating as a member of the IDF’s Operating Committee and Steering
Committee since 2018. The IDF assembles experts involved in promoting disaster risk insurance aroundthe world to mutually share experiences and motivate each

Regarding DRFI, under the APEC FMP and after the 2019 meeting of finance ministers’ approval of a policy
promoting the use of CAT bonds within APEC, the World Bank and APFF jointly held an online workshop
on CAT bonds in September 2020 and exchanged information and opinions that would assist thewidespread use of CAT bonds in the APEC region. Subsequently, another online workshop on CAT bonds
was held in October 2022 that invited specialists from Indonesia, Thailand and the Philippines to speak.
An online roundtable was held in April 2022 on how to promote financial preparedness in the APEC
region through public-private partnerships against pandemic risks. Tokio Marine & Nichido engaged inother. Since Japan has experienced many disasters, its input
for disaster responses has been greatly valued, including forthe earthquake insurance system implemented as a publicprivate collaborative scheme. Meanwhile, the network
cultivated through participation in the IDF has proved usefulfor discussions at the aforementioned APFF. As such, Tokio
Marine Group has been instrumental in organically bridging
initiatives advocated by the two organizations.

the discussion from the standpoint of an insurance underwriter.
Climate Change and Nature-related Disclosure

For sustainable financing, Tokio Marine & Nichido participates in the Sustainable Finance Development
Network (SFDN), which is under the umbrella of the APFF and, following the TCFD Consortium in Japan,
engages in activities for the development of a structure within APEC to encourage the disclosure ofclimate-related financial information.
* DRFI is a broad concept that bundles multiple countries and offers a wide variation of insurance schemes that range frominsurance that covers natural disaster risk, with countries being the insured party, to schemes under which private-sector
insurance companies provide earthquake insurance coverage for individual customers possessing regular homes andhousehold goods, with governments serving as reinsurers.

■ CDP
The Carbon Disclosure Project (CDP) is an organization that drives an initiative
under which the world’s principal institutional investors cooperate in callingfor companies worldwide to disclose their climate change strategies (risks andopportunities) and greenhouse gas (GHG) emissions.

Tokio Marine Holdings participates every year as a CDP Signatory and is supporting surveys in the areas ofcorporate climate change strategies and GHG emissions as well as energy usage.

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Initiatives

SocialInitiatives■ Financial Stability Board (FSB) Task Force on Climate-related Financial

GovernanceInitiatives

Sustainability
Performance Data

Environmental Value Creation

Disclosures (TCFD)■ Ministry of the Environment Eco-First System
The Task Force on Climate-related Financial Disclosures (TCFD) organizedunder the Financial Stability Board (FSB) released its recommendations in June
2017, which have played a central role in promoting information disclosures ofclimate-related risks and opportunities.

Eco-First is a system under which companies pledge to the Ministryof the Environment that they will proactively undertake initiatives forprotecting the environment that include adopting global warming
countermeasures and waste and recycling measures. Under thesystem, the ministry certifies those companies (top-notch companies
within the industry) that “carry out visionary and unique businessactivities that lead the industry” in environmental fields.

In addition to disclosing its own information based on the TCFD recommendations, Tokio Marine Holdings
contributed to the release of the recommendations in 2017 and was involved in the creation of theirframework as a TCFD member. Moreover, in Japan the Company has served in its capacity as one of thefounders of the TCFD Consortium and a member of its Planning Committee to facilitate discussions andIn 2008, Tokio Marine & Nichido was certified as an Eco-First company. In fiscal 2014, Tokio Marine &opinion exchanges among relevant parties in both public and private sectors from around the world. The

Nichido obtained recertification under its new regulations. This was in recognition of initiatives aimed at

Company has also been working to encourage the spread and promotion of TCFD initiatives in Japan andprotecting the earth’s environment, curbing global warming and preventing and reducing damage caused

Asia-Pacific countries.

by natural disasters through the insurance business. These include “offering environment-conscious
insurance with the participation of customers through the Green Gift Project” and “research centered on■ Taskforce on Nature-related Financial Disclosures (TNFD) Forumindustry-academia collaboration that focuses on climate change and natural disasters.”
The main activities being undertaken by Tokio Marine & Nichido as an Eco-First company are as follows.

The TNFD is an international initiative launched in June 2021 by the
UNEP FI, UNDP, Global Canopy and the World Wildlife Fund (WWF). By
establishing a framework for disclosing nature-related financial
information and encouraging companies to disclose nature-related
information, the TNFD aims to shift global financial flows toward
nature-positive outcomes.

• Provision of environmentally conscious insurance with the participation of customers through the Green
Gift Project• Reducing CO2 emissions of Tokio Marine & Nichido by 60% by fiscal 2050 (compared with fiscal 2006),
etc.
In fiscal 2020, as one of the leading companies within the insurance industry, Tokio Marine & Nichido

In January 2022, Tokio Marine Holdings endorsed and participated in the activities of the TNFD Forum

participated in events sponsored by the Eco-First Promotion Council together with other Eco-First

from the perspective of further promoting efforts to protect the natural environment.

companies and carried out environmental awareness activities.
Tokio Marine & Nichido will continue to promote initiatives for protecting the global environment andpreventing global warming as an Eco-First company.

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Environmental
Initiatives■ Endorsement of the Ministry of the Environment’s COOL CHOICE
COOL CHOICE is a national campaign that encourages all “smart choices”
conducive to countermeasures for global warming. They include switching to
products, utilizing services and making lifestyle choices that contribute to therealization of a decarbonized society to reduce emissions of CO 2 and othergreenhouse gases.

SocialInitiatives

purchasing.

■ 30 by 30 Alliance for Biodiversity by the Ministry of the Environment
The 30 by 30 Alliance for Biodiversity was established to achieve global
targets to end and reverse biodiversity loss (i.e., become nature-positive) by
2030 and to effectively protect at least 30% of Japan’s land and sea areas assound ecosystems by 2030. The Ministry of the Environment launched theinitiative in April 2022 with the aim of preserving more than 30% of thecountry’s land as a natural environment area by 2030.

government to counter global warming, and will work to make “smart choices” that contribute to therealization of decarbonized operations in all business activities. This includes not only striving for powersavings in summer and winter but also in areas ranging from products and services to donations and■ Endorsement of the Ministry of the Environment’s “Fun to Share” Climate

Change Campaign

Sustainability
Performance Data

As a member of the Green Purchasing Network, Tokio Marine & Nichido promotes initiatives for green

Tokio Marine & Nichido endorses COOL CHOICE, a national campaign being carried out by the Japanesevolunteer activities.

GovernanceInitiatives

Tokio Marine & Nichido has been promoting the conservation of biodiversity through the Mangrove
Planting Project since 1999. From fiscal 2022 and beyond, the company will promote initiatives forbiodiversity as a company that has endorsed the 30 by 30 Alliance at its establishment.

The Ministry of the Environment has been undertaking the Fun to Shareclimate change campaign since March 2014. By sharing with all citizens
information, technologies and knowledge leading to the creation of anenriched low-carbon society, the campaign aims to not only foster interest in
and a sense of crisis about global warming concerns but also create
opportunities for linking companies, organizations, communities and citizens
and realize Japan’s first “Lifestyle Innovation,” in which Japan can take pride,
throughout the world.

Tokio Marine & Nichido has endorsed the Fun to Share campaign and is actively promoting initiatives■ GX League
The GX League was established to enable companies actively working toachieve carbon neutrality and pursuing green transformation (GX) tocollectively discuss issues to change the entire socioeconomic system andcreate new markets.

toward the realization of a low-carbon society.

Tokio Marine & Nichido joined the 73 members of the GX League as a leader of the GX Management■ Green Purchasing Network

2023, it published its Basic Principles on Disclosure and Evaluation of Climate-related Opportunities.

Promotion Working Group to formulate rules for market creation, one of the League’s initiatives. In MarchTo achieve carbon neutrality, activities of the League are aimed at building a structure that enables

Tokio Marine & Nichido
is a member of the Green
Purchasing Network.

The Green Purchasing Network was established in 1996 as a facilitative
network and an information-disseminating organization of companies,
government agencies and non-governmental organizations leading the way
in green purchasing. The network was established based on the recognition
that green purchasing plays a crucial role in the formation of markets forenvironment-friendly products and represents an extremely effective meansof promoting the development of environment-friendly products throughmarkets and by extension for building a sustainable society.

Japanese companies’ contributions to mitigating climate change to be appropriately evaluated in terms ofopportunities (e.g., reduction of emissions from the products and services on the market).
Furthermore, Tokio Marine & Nichido joined the GX League in May 2023 and will continue to contribute to
the provision of value to transform the societal structure in pursuit of carbon neutrality.

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Initiatives

SocialInitiatives

GovernanceInitiatives

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Performance Data

5 Tokio Marine Group’s Environmental Initiatives
5.1 Creating Environmental Value hat Our Environmental Initiatives Aim for: Corporate Philosophy and Policy
5.1.1 W

◉ Tokio Marine Group Basic Policy on Environment
Tokio Marine Group recognizes that all humans and companies assume an important❷ Promotion of the Widespread Use of Clean Energy such as Renewable Energy

responsibility for future generations to protect the environment and create environmental

In mitigating climate change, we will promote the widespread use of clean energy

value. Accordingly, we are committed to realizing a safe, secure and sustainable society inthrough the provision of products and services in the renewable energy field andevery aspect of our corporate activities.

contribute to the transition to a decarbonized society.

■Protecting the Global Environment and Creating Environmental Value through Our
Business Activities❸ Response to Natural Disasters
In adapting to climate change, we will contribute to the creation of a society resilient to

In our business activities, we will promote climate change mitigation and adaptation

natural disasters by applying our knowledge on natural disasters and disaster prevention

measures such as promoting the widespread use of clean energy and responding to naturaland reduction, which we have accumulated over the course of our long history, todisasters. Together with our activities to conserve biodiversity and wetlands, we will movethe development and provision of products and services and by delivering safety andahead to protect the global environment and create environmental value.

security before and after disasters.

❶ Climate Change Countermeasures
C limate change is a global issue and has a direct impact on the insurance industry. As❹ Conservation of Biodiversity and Wetlands

such, we regard it as one of the most important issues that we should tackle head on inWe will contribute to the preservation of biodiversity and wetlands by practicing businessour core insurance business and as an institutional investor and global company. Basedactivities that give consideration to harmonization with and the improvement of theon constructive dialogue and collaboration with various international organizations,

global environment and by carrying out mangrove planting and other environmental

governments, industries, academic institutions and civil society, we will contribute toprotection activities around the world.

the transition to a decarbonized society by proactively implementing climate change
countermeasures.

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SocialInitiatives

GovernanceInitiatives

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Performance Data

■Reduction of Environmental Footprint in Our Value Chain■Governance and Management Structure

Tokio Marine Group will promote initiatives to reduce the environmental footprint in our

The Board of Tokio Marine Holdings approves the revision or abolishment of the Basicvalue chain while complying with environmental laws and regulations as well as various

Policy on Environment. However, Executive Officers in charge of the Corporate Planningagreements regarding the environment to which the Group has agreed.

Department may approve minor changes. The status of compliance with the policy and the❶ Reduction of Environmental Footprint

Group's environmental initiatives is deliberated at the Management Committee and otherWe recognize the environmental footprint of our resource and energy consumption

meetings and reported to the Board for a timely, appropriate and transparent information

and waste generation, and strive to reduce our environmental footprint by promoting

disclosure.

resource and energy conservation, decarbonization and low-carbonization, resource
circulation, harmonization with nature and green purchasing from a viewpoint of the■Stakeholder Engagement

overall value chain.

Tokio Marine Group strives to protect the global environment, create environmental value
and reduce the environmental footprint of our business activities and value chain through❷ Continuous Improvement of the Environment and Prevention and Reduction of
Pollution

dialogue, cooperation and collaboration with various stakeholders, including future
generations.

We strive to prevent and mitigate environmental pollution by setting goals and targets,
reviewing and revising our activities and continually improving the environment.

In promoting these efforts, Tokio Marine Group supports the following international
agreements, initiatives, etc., related to the environment*.

❸ Promotion of Environmental Awareness-Raising and Social Contribution Activities
We strive to promote environmental protection not only by promoting the dissemination

We communicate this Basic Policy on Environment to all Group employees and ensureof environmental information, provision of environmental consulting services andthorough adherence among them and announce it to the public.

environmental awareness-raising and educational activities both internally andexternally, but also by promoting local community and social contribution activities as a

Adopted on December 21, 2021

good corporate citizen.

* The United Nations Sustainable Development Goals, United Nations Framework Convention on Climate Change/ Paris Agreement, Sendai Framework for Disaster Risk Reduction 2015-2030, Convention on Biological Diversity,
Ramsar Convention, Washington Convention, United Nations Communities of Ocean Action for supporting theimplementation of SDG 14, United Nations Global Compact, United Nations Environment Programme FinanceInitiative, Principles for Sustainable Insurance, Principles for Responsible Investment, Task Force on Climate-related
Financial Disclosures, CDP, Principles for Financial Action for the 21st Century

2023 Sustainability Report42Basics

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Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

5.1.2 I nitiatives to Create Environmental Value◉ Domains of Initiatives
Tokio Marine Group promotes its environmental initiatives in four domains, namely responding toclimate change, promoting green transformation, responding to natural disasters and protecting the
global environment.
Promotinggreen transformation
on
g ti
in a
ot formom s
Pr tranneeRcli espm on
at d
e c inha g tng oegrTokio Marine Group’ s

To promote green transformation, we help customers to become carbon neutral
and to work toward a decarbonized society and contribute to the growth anddevelopment of industry through the development and provision of insurance
products and solutions as well as through risk consulting.
• Develop insurance products and solutions that will contribute to more widespreaduse of renewable energy, including offshore wind power and solar power• Carry out research on and develop insurance products that will contribute tospreading storage batteries, promotion of use of hydrogen and establishment of
new technologies, such as carbon dioxide capture and storage (CCS) and carbon
dioxide capture, utilization and storage (CCUS) technologies• Provide support for local governments and companies for building distributed
energy systems• Provide support for local small to medium-sized companies toward achievingcarbon neutrality

EnvironmentalRna esptu on
ra d
l d inisa g t
st o
er
s

t

en

g nm
tin ro
ec vi
ot en
Pr al
b
lo

eg

th

Initiatives

Responding tonatural disasters◉ Overview of Key Initiatives in Each Domain

Responding toclimate change

Tokio Marine Group has been working to promote the use of renewable energy,
support customers’ and society’s climate change countermeasures, reduce CO2
emissions from our business activities and encourage ESG investment to achieve
the goal of the Paris Agreement. We have joined multiple international initiatives tocombine forces with other companies and government agencies.
• Continuously reduce total greenhouse gas emissions of Tokio Marine Group andbusiness partners toward achieving the goal of the Paris Agreement• Drive transition to a decarbonized society through engagement with business
partners• Cooperate in policies promoted by public agencies toward achieving the goal of
the Paris Agreement• Contribute to the mitigation and response to climate change risk
• Provide support for climate change disclosure in accordance with therecommendations of the TCFD, and others

Protecting
the global
environment

We are promoting the development and provision of products and services
leading to the safety and security of customers and local communities. We arealso promoting activities to disseminate our knowledge on disasters and disasterprevention and mitigation widely throughout society through efforts such as
raising disaster prevention awareness of children as well as companies before adisaster strikes. After a disaster, we focus on making appropriate and swift claims
payments and providing services for the early recovery of business operations ofcompanies affected by the disaster.
• Provide support for formulating an ISO standard certifying disaster preparedness• Build a system for responding quickly to natural disasters and improve claims
payment process• Improve the profitability of fire insurance at Tokio Maine & Nichido• Provide earthquake insurance that promptly pays insurance claims after anearthquake and fire insurance with a system for donation that contributes todisaster prevention and mitigation
Tokio Marine Group is implementing local and social contribution activities
around the world that help protect the environment and preserve biodiversity andwetlands. These activities emphasize voluntary engagement by employees and tieups with NPOs and other groups.
• Promote eco activities through the Green Gift Project, which carries out mangrove
planting mainly in Southeast Asia and environmental protection activities aroundthe world• Continue to undertake tree planting project PHLY 80K Trees Campaign in the
United States• Continue providing Green Lessons to raise environmental awareness for children• Collaborate in afforestation project in Aki City, Kochi Prefecture2023 Sustainability Report43Basics

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GovernanceInitiatives

Sustainability
Performance Data argets for Creating Environmental Value
5.1.3 T

Responding to climate change
60% reductionof emissions
for our own
operations
by fiscal 2030
(vs fiscal 2015)

Increase
GX-related
insuarance productsby 7 billion yen
by fiscal 2023
(Tokio Marine &Nichido;vs fiscal 2020)

Achievecarbon neutrality
in fiscal 2023
(Achieving the status
for 10 consecutive
years up to
fiscal 2022)

100% use ofrenewable
electricity
at major facilities
by fiscal 2030

Engagement target
in fiscal 2030
200 major clientcompaniesn

Tokio Marine Group’ s

tio

g
in a
ot formom s
Pr tran
n

ee

gr

R
cli espm on
at d
e c inha g tng oeAiming fornet-zero emissions
by fiscal 2050
(for our own
operations
and investees)

Promoting green transformation

Environmental

Plant a total areaof 1,150 hectaresof mangrove forestfrom fiscal 2019 to
fiscal 2023

Rna esptu on
ra d
l d inisa g t
st o
er
s

t

Provide andincrease level ofsophistication ofsolutions related toprotection of global
environmentenProtecting the global environmentg nm
tin ro
ec vi
ot en
Pr al
b
lo
eg

th

Initiatives

Achieve cumulative
total of 58,000
participants inGreen Lessons
by end offiscal 2023

Issue an ISO
concept standard
certifying disaster
preparedness
in fiscal 2023

Responding to natural disasters
Improve
profitability offire insurance
more than
45 billion yen
by fiscal 2023
(vs Tokio Marine &Nichido business unit
profit in fiscal 2020)

Provide andincrease level ofsophistication ofsolutions related todisaster prevention

2023 Sustainability Report44Basics

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Performance Data

5.1.4 Structure for Promoting Environmental Management

5.1.5 Performance Reporting: Environmental Accounting

Tokio Marine Group has established a dedicated department (Sustainability Division, Corporate❶ Environmental Conservation Cost (Tokio Marine & Nichido)

Planning Department) at Tokio Marine Holdings to oversee and promote environmental management
for the Group. This department identifies challenges related to environmental management andformulates and implements the Group’s environmental management strategy. In addition, we haveassigned sustainability key persons in each department responsible for sustainability activities at
Group companies in Japan and overseas. Sustainability key persons are committed to reducing theEnvironmental
costs

FY2020

FY2021

FY2022(million yen)(million yen)

Expenses

Investment(million yen)(million yen)

Expenses

Investment(million yen)(million yen)

271

233

314

246

59

275

Investment

Business area costs

Expensesenvironmental footprint associated with our business activities alongside the management team in

Upstream/downstream costs

0

26

0

25

0

26

each Group company. The Sustainability Division, Corporate Planning Department supports efforts toManagement costs

0

20

0

23

0

24

R&D costs

0

101

0

96

0

135

Social contribution activity
costs

0

73

0

118

0

127

Environmental remediation
costs

0

0

0

0

0

0

271

453

314

508

59

587

promote environmental management at Group companies through dialogue and cooperation withthe sustainability key persons.
At core Group companies such as Tokio Marine & Nichido, we have set up a dedicated department tooversee and promote environmental management (e.g., Sustainability Division, Corporate Planning
Department at Tokio Marine & Nichido). A sustainability key person, assigned to each department
and branch office to promote sustainability activities, encourages the full participation of employees
in environmental management.
Tokio Marine Group performs plan-do-check-act (PDCA) management through our proprietary
Green Assist environmental management system, which draws on ISO 14001, and engages in energy
conservation and resource conservation activities.
The head office of Tokio Marine & Nichido adopted an environmental management system basedon the ISO 14001 environmental management system in fiscal 1999* and is working continuously toachieve environment-related targets. At Group companies in Japan and overseas, we have introduced
our unique environmental management system linked to Tokio Marine Holdings and Tokio Marine& Nichido. These Group companies are working to achieve targets set every year, including thoserelated to environmental issues.

Total❷ Environmental Performance Indicators Related to Environmental Benefits (Tokio Marine Holdings)
FY2020

FY2021

FY2022

Total energy input (GJ)

653,337

719,420

707,708

Water resource input (m3)628,513

1,724,096

1,947,079

Greenhouse gas emissions (t-CO2)

67,14060,45754,552

Waste emissions (t)

1,975

1,837

1,911

Environmental performance indicator

Note: Figures for all environmental performance indicators are provided on a global basis.

❸ Economic Benefits of Environmental Conservation Initiatives (Tokio Marine & Nichido)
Environmental performance indicator

Cost reduction* There were no major issues noted in internal auditing or external examination under ISO 14001 and no major violations ofenvironmental laws among Group companies.

Revenue
Total

FY2020 (million yen)

FY2021 (million yen)

FY2022 (million yen)

383

308

244

0

0

0

383

308

244

2023 Sustainability Report45Basics

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Initiatives

5.2 Responding to Climate Change

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Release of TCFD Report asic Approach to Climate Change
5.2.1 BThe intensification of natural disasters in recent years has caused a significant impact on

Climate change is a global issue and has a direct impact on the insurance industry. As such, we regard it asresilience. Advancing climate action absolutely requires the understanding and support of all

one of the most important issues that we should tackle head on in our core insurance business and as an

stakeholders. Up to the present, Tokio Marine Holdings has contributed to the formulation andinstitutional investor and global company.

publication of the TCFD recommendations as a founding member of the TCFD and has beencustomers and society and made it an urgent task to take climate action and improve disastermaking disclosures based on these recommendations in its integrated annual reports andBased on constructive dialogue and cooperation with various organizations and industrial groups,

sustainability reports since 2017.

including international organizations, governments, industries, academic institutions and civil society, we
will voluntarily implement climate action and help promote the transition to a decarbonized society.

In order to provide a clearer view of our related policies and actions, we have released a TCFD
report focusing on climate change. This report describes Tokio Marine Group’s response to
climate change in terms of governance, strategies, risk management and metrics and targets, limate-Related Financial Disclosure Based on
5.2.2 Cthe TCFD Recommendations
The Task Force on Climate-related Financial Disclosures (TCFD) had been entrusted by the Financial
Stability Board (FSB) to formulate voluntary recommendations for consistent, comparable, reliable,clear and efficient climate-related disclosures by companies in the financial sector and released its final
recommendations (TCFD recommendations) in June 2017.

which represent the four pillars of the TCFD recommendations. The “Strategies” section,in particular, presents our initiatives for each of the roles we assume, namely an insurancecompany, institutional investor, asset manager, global company and good corporate citizen.
While always keeping in mind our purpose of protecting customers and society in times ofneed, we will continue to seek to resolve social issues through business activities, enhance ourcorporate value and support the decarbonization of customers and local communities throughour insurance products and services as well as investment and financing.
TCFD Repot 2023 (PDF/9.3MB)

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Performance Data

5.2.3 Initiatives for Responding to Climate Change■Raising Employees’ Energy Conservation Awareness◉ Reducing CO2 Emissions and Becoming Carbon Neutral

during peak periods) following the Great East Japan Earthquake of March 2011, Group companies in

The environmental footprint caused by the business activities of Tokio Marine Group is relatively
small compared with companies in the manufacturing industry; however, the size of the Group makes
it a large consumer of energy. In order to reduce the environmental footprint from our businessactivities wherever possible, we have positioned initiatives for reducing the environmental footprint
as a key issue for the Group. The entire Tokio Marine Group, in Japan and overseas, is making efforts
to become carbon neutral* under the following strategic concepts.

Responding to the calls for energy conservation (in particular, the restraint of electricity consumption
Japan have been implementing Summer & Winter Electricity-Saving Measures as an initiative to firmly
establish electricity and energy conservation.
Specifically, the companies are making continuous efforts to (1) conserve energy in offices (reducing
unneeded light fixtures, placing restrictions on the use of OA equipment, copiers and others thattake power from outlets, and thoroughly managing air conditioning (such as setting temperatures
in offices to 28°C in summer and 19°C in winter); and (2) review employees’ work styles (such asencouraging early morning working hours and promoting casual dress code). In addition, Tokio❶ Reduce: Use energy-efficient buildings and facilities and cut back on energy usage.

Marine & Nichido endorses COOL CHOICE, a national campaign that encourages all “smart choices”❷ Switch: Switch to natural energy.

that contribute to countermeasures for global warming, including Japan’s energy-saving and low-❸ O ffset: Absorb and fix CO 2 by mangrove planting and retirement of emissions

carbon products, services and behavior in order to attain the Japanese government’s target of acredits.

46% reduction in greenhouse gas emissions by 2030 compared with fiscal 2013. We are promoting
activities to realize a low-carbon society.

* Carbon neutral means that CO2 emitted in the course of a company’s business activities is equivalent to the volume of CO2
absorbed and reduced by way of mangrove planting, use of natural energy and the retirement of emissions credits by such a
company.

■ Promoting Measures against Climate Change toward Becoming Carbon Neutral in 2050
Toward achieving carbon neutrality in 2050, Tokio Marine Holdings has defined new targets forpromoting measures against climate change, which is one of its sustainability priority areas and is
one of the key issues over the medium to long term.

■Promoting the Use of Natural Energy
Tokio Marine Group is promoting the use of natural energy in Japan and overseas. In fiscal 2022,
Tokio Marine Holdings, Tokio Marine & Nichido and Tokio Marine & Nichido Life fully switched torenewable energy for electricity used within their head office building. From 2002 to 2022, Tokio
Marine & Nichido purchased green power of approximately 1 million kWh annually through wind
power and biomass power generation. In fiscal 2022, Tokio Marine & Nichido also started using green
power generated by hydropower and purchasing non-fossil certificates. In addition, the Tradable
Green Power Certificates purchased by the company are being allotted to the reduction of emissions
at target sites based on the system regarding emissions trading and the obligation to reduce total❶ R educe greenhouse gas emissions of Tokio Marine Holdings by 60% in fiscal 2030
from the fiscal 2015 level.
❷ Use 100% renewable energy for electricity consumed at major bases in fiscal 2030.
❸ R eplace all company-owned vehicles with electrified vehicles in fiscal 2030 (Tokio
Marine & Nichido, Tokio Marine & Nichido Life, Nisshin Fire).
❹ A im for net zero greenhouse gas emissions by fiscal 2050 (including insurance
customers, investee companies and financing recipients)

emissions of greenhouse gases pursuant to the Ordinance on Environmental Preservation to Secure
the Health and Safety of Citizens of the Tokyo Metropolitan Area (Environmental Preservation
Ordinance).
U.S.-based Philadelphia Insurance Companies has purchased green power to account for 100% of
its electricity use over the year in its business activities and has achieved net zero emissions* since
fiscal 2013. U.K.-based Tokio Marine Kiln has also fully switched to renewable energy for electricity
consumed within its head office building.
* Net zero emissions are achieved when the net of CO2 emissions and energy consumed equals zero.

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Initiatives■ CO2 Emission Reduction Data (Energy Conservation and Reduction in Buildings, Facilities, etc.)[Tokio Marine Holdings and Major Subsidiaries]<CO2 Emission Reduction Targets>SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ Initiatives toward Achieving Carbon Neutral Status through Mangrove Planting(CO2 Absorption and Fixation through Mangroves)
Mangrove forests have an effect on the prevention and mitigation of global warming by absorbing• Long-term target (fiscal 2030): -60% (compared with fiscal 2015 level)

and fixing a significant volume of CO2. Under the concept of “insurance for the future of the Earth,”• Reduction target in fiscal 2023: -1% compared with previous year

Tokio Marine Group has engaged in the Mangrove Planting Project since 1999. As of March 31, 2023,
approximately 12,261 hectares of mangrove forest have been planted through this project in nine

<CO2 Emissions (Fiscal 2022 Results)>

countries, primarily in Asia.

Fiscal 2022 CO 2 emissions by Tokio Marine Holdings and its major subsidiaries (Scope 1 (directemissions) + Scope 2 (indirect emissions) + Scope 3 (other indirect emissions)) were 80,201 tons

Each Group company strives to reduce the environmental footprint through energy conservation and(Japan: 48,587 tons, overseas: 31,614 tons) versus a start-of-year target of 82,648 tons (a 1% reduction

resource conservation. At the same time, Tokio Marine Group aims to achieve carbon neutral status

year on year), or a 3.93% decrease in emissions compared with the previous fiscal year.

on a global basis, offsetting the CO2 emissions generated by its business activities with CO2 fixation
and reduction through means such as mangrove planting and natural energy (green power). Fiscal

As a result of efforts to steadily reduce CO2 emissions at Group companies in Japan and overseas,

2022 CO2 emissions by Tokio Marine Holdings and its major subsidiaries were 80,201 tons, which was

we succeeded in cutting these emissions beyond targets at the Group level. In addition, we havea 3.93% decrease in emissions compared with the previous fiscal year.

been expanding the coverage of the calculations for Scope 3 since fiscal 2015 in order to meet
expectations from society in terms of initiatives to create environmental value by companies.
Sustainability Performance Data (CO2 emissions from energy sources and CO2 reduction andfixation (Tokio Marine Holdings and major subsidiaries))［Tokio Marine & Nichido］<CO2 Emission Reduction Targets>

Gas, gasoline
and others
13,362 tons

• Long-term target (fiscal 2050): -60% (compared with fiscal 2006 level)• Reduction target in fiscal 2023: -1% compared with previous year
<CO2 Emissions (Fiscal 2022 Results)>

CO2 emissions
80,201 tons

CO 2 fixation
and reduction
93,000 tons

Scope 1 Direct

Electricity
and others
41,190 tons*

Scope 2
IndirectPaper, business traveland others
25,649 tons

Scope 3Other

CO2 absorption andfixation throughmangrove planting
93,000 tons

Fiscal 2022 CO2 emissions by Tokio Marine & Nichido (Scope 1 (direct emissions) + Scope 2 (indirectemissions) + Scope 3 (other indirect emissions)) were 34,425 tons versus a start-of-year target of
41,361 tons (a 1% reduction year on year). The percentage of reduction was 17.6% compared with theprevious fiscal year, thereby achieving the target. The main cause of this decrease was a reduction in
power consumption owing to energy-saving initiatives.
Sustainability Performance Data (CO2 emissions from energy sources (Tokio Marine & Nichido))* CO2 emissions include the effect of purchasing green power, etc., of 14,074 tons.

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SocialInitiatives

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Performance Data

The effect of CO2 fixation and reduction due to mangrove planting, etc., was 93,000 tons and carbon[Efforts by Tokio Marine & Nichido]

neutral status was achieved for the 10th year in succession for the Group overall (Japan and overseas).

Jointly with Tokio Marine & Nichido, Tokio Marine Holdings has unveiled the design of our newhead office building, which will be rebuilt as the redevelopment project of the current Tokio Marine
Nichido main building and annex building.
These buildings will be reborn as a 100-meter-high “head office building made of trees,” the world's
largest wooden hybrid structure at the time of its completion, which uses an unprecedented
amount of domestic fire retardant wood. Wood is an excellent eco-friendly construction material
that absorbs and stores CO2 during the process of growth. By utilizing a large quantity of domestic
timber and through other CO2 reduction measures, we can reduce the amount of CO2 emitted during
the construction of the building by approximately 30% compared to when constructing regularbuildings. In addition, we will contribute to saving energy andrealizing a decarbonized society* by introducing highly energyefficient facilities and a district heating and cooling system andusing 100% renewable energy for our electricity consumption.
Since many trees planted after the Second World War are* Information on CO2 emissions from energy usage and other relevant information are subject to a third-party
guarantee by Ernst & Young ShinNihon LLC. Tokio Marine Holdings requested the Central Research Institute of ElectricPower Industry (CRIEPI) to evaluate and calculate the amount of CO2 absorption and fixation through mangrove
trees and received the evaluation report. Further, a third-party organization (Ernst & Young ShinNihon LLC) has beenrequested to implement the agreed-upon procedures in compliance with Practical Guidelines in Specialized Fields
4400, Engagements to Perform Agreed-Upon Procedures (The Japanese Institute of Certified Public Accountants) forpart of the data used in the report. As a result, Tokio Marine Group has deemed that the effects of CO2 absorption andfixation through mangrove planting have been calculated properly.
* The coverage of calculations for Scope 3 (other indirect emissions) was expanded in fiscal 2015.

said to have grown enough for use, generating a substantial
amount of demand is essential in restoring the country’s forestsand forestry industry. By using a large quantity of domestic
timber in our new head office building, we aim to contributeto the revitalization of Japan’s forestry, the creation of local
employment and consequently, the establishment of regional
circular economies.
* On February 27, 2022, our new head office building plan acquired provisional certification of “Platinum,” the highest rating in
the LEED® (Leadership in Energy and Environmental Design) v4 for Building Design and Construction: New Construction, aninternational green building rating system.

◉ Reduction of Environmental Footprint in Business Activities■ Environment-Friendly Buildings and Facilities
Tokio Marine Group is engaged in initiatives* that consider the environment and disaster prevention[Efforts Overseas]
At Group companies overseas, as in Japan, we are taking measures to conserve energy as appropriate
for each building or facility we own.

in buildings and facilities it owns, as appropriate for each structure.
• F acilities investment amount related to energy conservation measures: 126 million yen (fiscal 2022,

In 2017, Philadelphia Insurance Companies (PHLY) in the United States decided to renovate its long-

Tokio Marine & Nichido)

used headquarters building to update its aged technology, infrastructure and exterior. The aim was*Upgrading to boilers, high-efficiency lighting fixtures (LED, etc.) and air conditioning, etc.

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SocialInitiatives

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(ESG) efforts. The renovation gave consideration to theThroughout the year, Safety National’s employee-led Sustainability Committee organizes andenvironment by replacing windows, switching to a moreproduces educational content to increase awareness and engagement with these issues among

comfortable, energy-efficient air-conditioning system,

employees.

adding a charging station for electric vehicles, installing
adjustable lighting fixtures that sense movement and natural■ Initiatives to Reduce Paper Use

light and creating a self-sustaining outdoor greenery zone

Tokio Marine Group’s volume of paper consumed in fiscal 2022 was 5,171 tons (Japan: 4,610 tons,

that has won an award.

overseas: 561 tons), which marked a decrease of 8.6% on a year-on-year basis thanks to reduction
efforts in and outside Japan. In fiscal 2023, we are taking action under a target of reducing paper

The building also took into account social aspects, such as safety and accessibility. For safety,

volume in Japan by 1% from the previous fiscal year.

it incorporated a speaker system for emergency and evacuation announcements and a video
monitoring system. Accessibility was ensured by introducing button-controlled height adjustable

As a measure to curb paper consumption, Group companies are distributing mobile terminals (tablets

desks for all employees, replacing swinging doors with sliding doors and removing curbstones fromand notebook PCs) to employees to reform working styles while reducing paper consumption, along

the parking lot to make it level with the sidewalk. These features have also resulted in a traceablewith promoting the paperless Raku Raku Tetsuzuki (Quick and Easy Online Procedures) for applying

reduction in waste and consumption of water, gas, electricity and paper.

for insurance on tablet or other devices, expanding the use of paperless conferencing, using green
procurement of stationery and office supplies, shifting forms and pamphlets to Web formats (i.e.,

Each year, Safety National in the United States participates in the St. Louis Green Business Challenge,

promoting paperless operations) and firmly establishing the practice of double-sided copying andwhich is a program initiated by Missouri Botanical Gardens that assists companies with integrating

printing multiple pages on one sheet.

sustainable measures into their daily operations. Companies participating in the Challenge competewith themselves to improve performance year over year.

In December 2020, we rolled out Remote Raku Raku Tetsuzuki, a one-stop online service forcustomers to view a proposed insurance product and its description, and purchase them on their

In 2022, Safety National achieved the Champion Level Award, with their submission detailing how

smartphones and other devices. Through this service, we have realized seamless and paperlessthey have created a culture of conservation. This year-long project included measurable elements likeprocedures that also make customers feel at ease.

energy savings from the solar arrays installed on the home office buildings, CO 2 emissions reduced

Examples of Initiatives toward High-Quality Solicitation

by a hybrid work environment, water conservation achieved with low-flow fixtures installed in thehome office, robotic process automation (RPA) initiatives that reduced physical mailings and regular■ Promoting Waste Recycling

recycling events on campus. The company’s

Tokio Marine Group has installed paper machines that make new paper from used paper using very

conservation efforts also included the addition

little water and is promoting paper recycling that can be completed in our offices.

of a porous parking lot, installation of mason
bee houses to help pollinate local plants,■ Effective Use of Water

additional greenery on campus and a transition

At the La Mer Sanbancho building in Tokyo, Tokio Marine & Nichido is promoting the effective use of

to environmentally friendly cleaning supplies

water by collecting rainwater and recycling it for flushing toilets.

to reduce pollution in waterways and minimize
ozone depletion.

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Initiatives

5.3 P romoting Green Transformation

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

5.3.1 B asic Approach to Promoting the Widespread Use of

Clean Energy

Through the development and provision of insurance products and solutions as well as risk consulting,
Tokio Marine Group seeks to assist customers in becoming carbon neutral and shifting toward a

In mitigating climate change, we will promote the widespread use of clean energy through thedecarbonized society, as well as to contribute to the growth and development of the industry.

provision of products and services in the renewable energy field and contribute to the transition to a
decarbonized society.

In February 2021, Tokio Marine & Nichido established the Green Transformation (GX) Task Force andhas been assisting customers’ efforts in becoming carbon neutral and transitioning to a decarbonizedsociety by developing and providing insurance products and services related

5.3.2 Providing Solutions for Promoting the Widespread Use

to renewable energy and supporting disclosures of climate change risks andof Clean Energy

opportunities based on the TCFD recommendations.

◉ Offshore Wind Power Generation

While responding to global warming and climate change is gaining significance,
we will combine our knowledge and expertise accumulated throughout Tokio
Marine Group and promote support matched to a wide range of customers.

■Globally Providing Insurance Products Related to Renewable Energy
Special GX website(in Japanese)■ Holding a GX Roundtable
In March 2023, we held a GX Roundtable of 15 Group companies in London to share information andpromote relevant initiatives globally. These participating companies shared their respective initiatives
in this field and discussed possible collaboration and business expansion opportunities within theGroup. Going ahead, we intend to turn the outcomes of the meeting into specific initiatives.

Renewable energy such as offshore wind power and solar power is expected to be a new powersource for the transition to a decarbonized society. As such, installation and widespread constructionof facilities are promoted in various countries. Such renewable energy-related projects, however,require various types of insurance products. In response, we acquired GCube, a leading player inproviding insurance underwriting services for renewable energy projects around the world, in 2020.
The company possesses strengths in excellent underwriting capabilities, superior claims service
capabilities and a prominent presence in the renewable energy industry. Tokio Marine Group
companies in Japan, the United States and Mexico are joining forces with GCube to support the
spread of renewable energy around the world.
■Total Support for Offshore Wind Power Generation from Construction Phase to Operation Phase
In offshore wind power generation projects, various par ties, including overseas windmill
manufacturers, are involved in construction of facilities. In response, Tokio Marine & Nichido’s
package exclusively designed for such projects offers comprehensive and seamless total support inorder to cover a variety of risks facing each party throughout the construction work. Although thistype of insurance package is generally employed in Europe and the United States, the content andclauses of the company’s insurance have been adjusted to fit the legal system and environment ofJapan.
Beginning with underwriting insurance for a project in the Netherlands in 2013 that the customer has
2023 Sustainability Report51Basics

Environmental
Initiatives

Details

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GovernanceInitiatives

Sustainability
Performance Dataacquired rights for, Tokio Marine & Nichido has been supporting a total of 63 offshore wind power

Stochastic Assessment of Natural Disasters

generation projects in 10 countries and regions including Japan. In fiscal 2022, while taking on six

The risk of a natural disaster occurring such as a typhoon, earthquake or tsunami is significantly

new projects, the company has provided support to the wind power generation industry in Japan bydifferent between Japan and Europe. In arranging insurance for offshore wind power generation

working with experts from overseas and holding seminars to present and share the know-how it has

projects, Tokio Marine dR calculates the critical indicator of Probable Maximum Loss (PML) using

gained through underwriting these projects as well as efforts for accident prevention.

stochastic methods and conducts risk assessment and published a paper on this evaluation model.

A dedicated team was set up to deal with wind power-related projects in 2013, and a task force was

In many cases, project financing has become an integral part of offshore wind power generation

established in 2019 to provide company-wide support for the industry. Tokio Marine & Nichido aims

projects as they grow in scale. Lenders also want to understand the risk involved using stochastic

to be the industry leader from an insurance perspective for offshore wind power generation projects,

assessments that use a fixed recurrence interval such as 475 years for an earthquake and 100 years

an area expected to grow and develop not only in Japan and Asia but across the entire world, and tofor a typhoon. This PML calculation has also been adopted in Japan’s first commercial offshore wind

accelerate initiatives in this core business area to protect the global environment.

power generation project mentioned previously.

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■Developing Defect Warranty Insurance for Contractual Liability of Construction Contractors
and Component Suppliers of Offshore Wind Power Generation Projects
Industry

In order to provide greater support for the development of the offshore wind power industry, Tokio
Marine & Nichido has developed an insurance product that covers defect warranties of construction
contractors and component suppliers, which involve considerable costs and also continue for a long

Academiaterm.
The product covers its defect warranties related to the design, materials, fabrication or installation
2023 Sustainability Report52Basics

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Initiatives

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GovernanceInitiatives

Sustainability
Performance Dataof windmill components, undersea cables, facility foundations and other parts and pays insurance

In the event of damage from earthquake, tsunami, water, wind, landslide or other natural disasters,

claims accordingly. It also covers ship fees, a cost unique to offshore wind power generation

mega-solar projects may be forced to review installation expenses or construction period, andprojects, and will be customized for specific coverage details. With this product, the company canbusiness operations following launch may be severely affected. Based on natural disaster informationeven consider the possibility of offering a payment limit of over 1 billion yen for defects warranties

and knowledge accumulated over the years in the property and casualty insurance business, thespanning as long as five years.

product offers risk consulting services that include a five-stage evaluation of natural disaster risks
at planned mega-solar installation sites and soil contamination risk assessment consulting services

Through the provision of this insurance product, the company will help construction contractors andthrough means such as site usage history surveys and field investigations. By incorporating suchcomponent suppliers secure financial soundness and support the development of Japan’s offshore

consulting services, mega-solar business operators are able to accurately assess the risks that canwind power generation industry by backing new entries into the industry and hence contributing tothreaten business continuity and can effectively carry out necessary investments and measures.

its higher competitiveness.
Conducting risk assessments of mega-solar projects has helped us build up extensive know-how,

Notional image of coverage

Component supplierSupply contract
Subcontract

which we are using to provide consulting services for renewable energy facilities for biomass andwind-power generation businesses.

Construction contractor

Warranties

EPC contract

Ordering party(offshore wind power
generation operator)

Tokio Marine dR’s “Risk Assessment of Renewable Energy Facilities” (in Japanese)
Tokio Marine dR’s “Risk Assessment of Renewable Energy Facilities”

Warranties

Cover contractual defect warranties
to the ordering party

Chart: Natural disaster hazard information of Tokio Marine dR (example)
Wind disaster hazard
information

Snow disaster hazard
information

Lightening hazard
information

Tokio Marine & Nichido◉ Solar Power Generation■Mega-Solar Package Program
In July 2012, Tokio Marine & Nichido began marketing its Mega-Solar Package Program. Through risk
consulting and insurance products, the program offers an integrated solution for the risks involved inmega-solar (large-scale solar power generation) projects.
◦Making Use of Evolving Risk Assessment Approaches in Consulting
The Mega-Solar Package Program is composed of 1) risk consulting (natural disaster risk assessment
and soil contamination risk assessment) and 2) arrangement of property and casualty insurance.

Table: Results of natural disaster risk assessment (example)
Site

Seismic
motionLiquefaction

TsunamiVolcanic
eruption

Strongwind

Riverflooding

Landslide/
High tide Slope
failureSnowdisasterLightning
strike

A

3

3

1

4

2

5

1

3

2

1

B

1

1

1

1

3

4

1

5

3

1

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

・
・
・

2023 Sustainability Report53Basics

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Performance Data

◦Arrangement of Appropriate Property and Casualty Insurance at the Mega-Solar Projectsociety, Tokio Marine & Nichido will support the smooth diffusion of renewable energy by providing

Installation and Operational Stages

insurance products and risk consulting services and contribute to the development of a sustainableAs various risks are expected at every stage – from installation to operation – in mega–solar

society.

projects, appropriate risk management is achieved by analyzing risk factors that can impact project
management and by arranging for insurance against each risk. As a specific example, risks associatedwith installation work may include damage to a solar power system or temporary installation causedby an accident or disaster, such as fire or lightning strike; lost profits due to a delay in the launch ofoperation resulting from the damage; and compensation for damage in case a solar power system
has caused an accident during installation or after completion.
Hedging these risks is possible by using erection all risks insurance, delayed start of operations
insurance and various forms of liability insurance. Additionally, risks related to facility operation may
include damage to a solar power system caused by fire or other accident or disaster, lost profits due
to suspension of operation resulting from the damage and compensation for damage as an owner ormanager of the facilities. These risks can be hedged by corporate fire insurance and various forms ofliability insurance.

■ Providing Insurance Package for Solar PPA Operators
Tokio Marine & Nichido offers an Insurance Package for Solar PPA Operators, an insurance productproviding power purchase agreement (PPA) operators with comprehensive coverage for various risks,
including the risk of damage to power generation facilities, compensation liability risk arising fromthe management of facilities and risk of the user (company using the facilities) going bankrupt.
In recent years, a PPA model has drawn much attention on the back of the growing need to use
renewable energy. It is a business model in which a third party installs its own renewable energy
facilities on the roof of the user’s building or within its premises by incurring the installation costs,
and supplies generated power to the user while recovering these and other costs through a longterm PPA with the user. An increase in the introduction of renewable energy is expected to continue
via this model, as it has the advantage of eliminating the associated initial cost for the user. Thereis, however, a risk that the originally planned cost recovery would be difficult for reasons such as an

Solar power and other forms of renewable energy are indispensable as new energy sources tosupport the social infrastructure of the future. Based on the role that insurance companies bear in
Mega-solar project flow from installation work to operation
Site investigation❶ Confirm risk situationof planned site
❷ Perform soil contamination survey atplanned site

Installation work

❶ Prepare for liability to
third parties during
installation work

❷ Compensation forCompletion of installation
work and handover❶ Prepare for damages
from delayed delivery❷ Prepare for liability to
third parties after

damages due to disastercompletion ofor accident at solar

installation work (after

power system during

handover)installation work

unexpected and sudden accident during the term of the contract. By offering this insurance package,
the company will promote the introduction of renewable energy based on the solar PPA model.
Notional concept of coverage for risk of non-payment of electricity charges due to bankruptcyof the user

Operation❶ Cover damages tosolar power systems
due to natural
disasters and otheraccidents❷ Prepare for liability to
third parties originating in ownership, useor management ofsolar power systems

Hazard environment report

Contractors generalliability insurance

Advance loss of profit
insurance

Corporate property
insurance

Soil contamination survey

Erection all risks
insurance

Products liability
insurance

Early disaster recovery
support service
Premises liability
insurance❷ Electricity supply(Electricity charges)

Policyholder / Insured(PPA operator)❹ Charges not paid
(bad debt)❺ Payment of an
insurance claim❸Bankruptcy,
etc.

Creditors(user)❻ Claim forcompensation

Tokio Marine & Nichido❶ Conclusion of
an insurance contract

2023 Sustainability Report54Basics

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Sustainability
Performance Data

◉ Other Initiatives

two companies’ ability to collect information, including industry and investor trends, from the network■Commencing Sales of Wholesale Electric Power Price Fluctuation Insurance

abilities to analyze business opportunities and risks in various fields and provide solutions based on

Tokio Marine & Nichido offers Wholesale Electric Power Price Fluctuation Insurance, which provides

the analysis through financing and insurance services. Going a step beyond simple disclosure support,

compensation for losses incurred by electricity retailers when the price of electricity in the wholesale

we will provide consulting services designed to raise the sophistication of strategies and implement

electricity market rises sharply due to severe weather like extreme heat or cold. Although electricity

needed countermeasures, consequently helping customers promote decarbonization-oriented businessretailers are increasing their procurement ratio of electricity derived from renewable energy, when the

management and enhance corporate value.

they have cultivated through their global activities as total financial services groups, as well as theiramount of procured renewable energy-derived electricity falls due to adverse weather or other events,
retailers must procure replacement power from the Japan Electric Power Exchange (JEPX) and bear therisk of market-based price fluctuations. Price fluctuations in the wholesale electric power market have a

Financial information

Input(sales, costs, etc.)

significant impact on electricity retailers, and the bankruptcies and closures of electricity retailers caused

Transition information(electricity andgas consumption, etc.)

Physical information(location, assets, etc.)

by unforeseen price spikes from severe weather events have become a social issue.
Bearing this issue in mind, Tokio Marine & Nichido launched this product to offer electricity retailers
stability in their business operations and promote the widespread use of renewable energy with the goalof helping in the transition to a decarbonized society. The company plans to use the knowledge obtained
through offering this product to develop other insurance products and contribute to the stable growthof the electricity market by compensating for the risk surrounding both electricity retailers and various
stakeholders in the market.
■Developing a TCFD Disclosure Support System and Providing Related Consulting Services
Tokio Marine & Nichido has developed a system to support information disclosure based on the TCFD
recommendations, specifically assisting TCFD scenario analysis that causes significant work burdens
on companies. By providing the system to a wide range of customers and continuously enhancing its

Parametersusedinternationally

TCFD-based disclosure support system

International Energy
Agency (IEA)

Simplified quantification of transition risk

Intergovernmental Panel on
Climate Change (IPCC)World Resources
Institute (WRI)・・・

Evaluation of preparedness
against climate change(Carbon tax, energy prices and risks uniqueto certain business categories)

Know-how
accumulated in
conducting
natural disaster risk
assessments
over the years

Simplified quantification of physical risk
(Flooding risk)+* Consulting service company of
Tokio Marine & Nichido

Simplified consulting services

Example usage
Starting from TCFD-based disclosure and moving on to raising the sophistication of
GX strategies, risk management and stakeholder engagement

functionality based on customer feedback, Tokio Marine & Nichido supports the GX strategies of various
companies striving to disclose climate-related financial information for achieving decarbonization andcarbon neutrality.
Additionally, the company has set up the GX Promotion Advisory Task Force jointly with MUFG Bank,
Ltd. The task force is providing consulting services by utilizing the consulting staff of the two companies
and the TCFD-based disclosure support system developed by Tokio Marine & Nichido. Its support menu
offers services necessary for climate change response and disclosure. The consulting services leverage the2023 Sustainability Report55Basics

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5.4 Responding to Natural Disasters
5.4.1 B asic Stance on Natural Disasters
From the aspect of adaptation to climate change, we will apply our knowledge on natural disasters
and disaster prevention and mitigation accumulated throughout Tokio Marine’s long history to thedevelopment and provision of products and services while contributing to the creation of a society

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

5.4.2 Promoting Disaster Prevention and Mitigation throughProducts and Services■Launch of the Industry’s First Magnitude Index-Based Earthquake Insurance(EQuick Insurance for Earthquake Preparation)
When a large natural disaster occurs, it may take a certain amount of time to assess damage andpay insurance claims. Through questionnaires to earthquake survivors, we have learned that various
expenses are incurred in the immediate aftermath of an earthquake and there is a need for funds

resilient to natural disasters by providing safety and security both before and after such disasters

to pay for them. Based on this finding, Tokio Marine & Nichido released a magnitude index-based

occur.

earthquake insurance (EQuick Insurance for Earthquake Preparation) in March 2021, which promptly
pays insurance claims after an earthquake so that customers can pay for post-earthquake living
expenses. A fixed amount of insurance set according to the earthquake magnitude observed in
the area where customers reside will be paid in as fast as three days. The process from enrollment
application to the receipt of insurance claims can be completed on a smartphone, providing moreconvenience to customers.
Flow of receiving insurance claims

Tokio Marine & Nichido received certification as an organization contributing to thebuilding of national resilience (“Resilience Certification”) in the first evaluation conductedin fiscal 2016 and continues to have it renewed ever since.

An email is sent promptly
after an earthquake
occurs.

Customers verify that theiraddress and bank accountfor receiving insurance
claims are correct.*Insurance claims will bedeposited into the bankaccount customers
specified in as fast as
three days.

* Insurance claims will be paid based on the initial contract if the earthquake information cannot be conﬁrmed
within 72 hours of the earthquake.

2023 Sustainability Report56Basics

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GovernanceInitiatives

Sustainability
Performance Data■F
‌ ire Insurance with a System for Donation That Contributes to Disaster Prevention and Mitigation:■Development of Disaster Experience AR App for Simulating a Disaster on a Smartphone or Tablet

Tokio Marine & Nichido’s Total Assist Fire Insurance x Red Feather Disaster Prevention/Reduction

To minimize damage from floods, which are becoming more intense and frequent, it is important

Programfor everyone to regard disasters as their own personal matters and raise their disaster prevention

Tokio Marine & Nichido launched the “Total assist fire insurance x Red Feather Disaster prevention/awareness.

reduction program” in cooperation with the Central Community Chest of Japan, which promotes the
Red Feather Community Chest. The program is aimed at supporting efforts to prevent and mitigate

Tokio Marine & Nichido and Tokio Marine dR have developed the Disaster Experience AR app thatdamage from natural disasters whose frequency and intensity are increasing and to quickly recoverenables customers to “experience” a water disaster on their smartphones as if it has actuallyfrom a disaster.

happened to them. The app simulates the risk of water immersion caused by a flooding river andlandslides and prepares customers to take appropriate action when a disaster actually occurs.

If a customer who has enrolled in a fire insurance policy (Total Assist Fire Insurance) selects webbased insurance contracts or clauses, Tokio Marine & Nichido donates a certain percentage of the

The Disaster Experience AR app uses augmented reality (AR) technology* to enable the visualization

reduced expenses to the Red Feather Community Chest to support disaster prevention, mitigationof flooding and landslides caused by a water disaster through the scanning of a QR code with aand recovery activities. Another purpose is to contribute to environmental efforts through thesmartphone camera. The app has the following characteristics.

reduction of resource consumption. In July 2022, a certificate of appreciation was granted by theCentral Community Chest of Japan in recognition of the donation to the Red Feather Community• Predicted flood heights of rivers all over Japan are collected in the geographical information system

Chest, which was made through this program.

(GIS) and linked to an original hazard map prepared by Tokio Marine dR.
• The map covers all of Japan and the danger can be visualized at any point on the map, which can be

Customers select web-based insurance contracts or clauses.

Reduce resource consumption accompanying distribution

Donate a certain percentageof the reduced expense

Contribute to supporting disaster prevention,
mitigation and recovery in respective regions

Mitigate damage caused bynatural disasters

Customers registeron the policyholder
page and download
the dedicated app.

Reduce CO2
emissionsCurb
global warming

used to confirm the risks that family members living separately may be exposed to.
* Technology to superimpose virtual visual information onto the user’s actual environment

Images of Disaster Experience AR app

Images of Disaster Experience AR app

Easily checkpolicy details andfile claims using
the app

Smooth response
Contribute to environwhen a disaster occurs
mental measures

Top page

Flood

Cliff failure

Mudslide

Landslide2023 Sustainability Report57Basics

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Sustainability
Performance Data

■Providing the Natural Disaster Hazard Report and Kantan Risk Map

satellite offices (temporary offices to conduct damage assessment and other operations in disaster-

The frequency and intensity of natural disasters such as earthquakes, typhoons and heavy rains havestricken areas) to facilitate initial response. The company’s system network enables damage service

increased in recent years. This has resulted in a rise in customer needs to keep abreast of information

offices across Japan to exchange and share information in real time, which in turn allows for providing

about hazards in and around their houses, offices and other surroundings before emergencies occur.

support smoothly in remote regions. Tokio Marine & Nichido makes company-wide efforts, with

To meet these needs, the Natural Disaster Hazard Report and Kantan Risk Map were released in fiscal

employees, appraisers and adjusters (damage investigators) dispatched to the disaster areas visiting

2022. The former is only available to employees and agencies and enables them to view detailed

customers affected by the disaster to check the status of damaged houses and other properties in

information, while the latter, available to everyone and viewable using a smartphone or computer,order to quickly pay insurance claims using digital, AI and other technologies.

shows important information in a simple and easily comprehensible manner. Users can select a

System for Responding Quickly to Natural Disasters (Tokio Marine & Nichido website) (in Japanese)

location or enter an address to view information about water damage and earthquake risks at thatlocation. Updated every year based on data provided by national and municipal governments, these

Nationwide claims service offices

materials can offer the most current information that will be useful in the prevention and mitigationof disasters affecting offices and homes.
Kantan Risk Map (in Japanese)

Claims service
system foundation

Head office disastermanagement task force

Centralized backup office

Real-time, paperless
information
provision

Local response headquarters
Establishment and operation of optimum satellite offices
Satellite
officeSatellite
officeSatellite
officeSatellite
officeProviding caring claims services for individual customers■System for Responding Quickly to Natural Disasters
The purpose of Tokio Marine Group is to protect customers and society in times of need, which is acommitment we have upheld in all of our activities.
Japan has been struck by a number of natural disasters such as typhoons and floods in recent years,
causing serious damage across the country. If a large-scale disaster occurs, Tokio Marine & Nichido
promptly establishes backup offices (insurance claims centers), local disaster response offices and2023 Sustainability Report58Basics

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GovernanceInitiatives

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Performance Data

■Development of Claims Payments Using Satellite Imaging and AI■Support for the Quick Recovery of Disaster-Affected Areas beyond the Framework of Insurance

Tokio Marine & Nichido began working with ABeam Consulting Ltd. to pay insurance claims using

Damage from water disasters due to typhoons or torrential rains has been increasing in the lastsatellite imagery in 2018. To increase the sophistication of these activities, the company has been

several years. While it is important to support the people affected by these disasters, the difficulty ofcooperating with ICEYE and Mitsubishi Electric Corporation, which possess advanced satellite image

determining support needs has emerged as an issue. To solve this issue, Tokio Marine & Nichido has

analysis technologies.

begun to collaborate with the Japan Voluntary Organizations Active in Disaster (JVOAD), which has
an extensive network of municipal governments and volunteer groups across Japan. In the event ofMainly in the event of a water disaster, this initiative will enable a more detailed calculation ofa disaster, the company will provide JVOAD with information including data on estimated damage,damage and the height of flooding using AI to analyze data, including images on social media anddamage investigation data and the needs of the people affected by the disaster. This will help build

data from immersion sensors in addition to acquired satellite images. The data will be combined witha team of municipal government and volunteer groups that is proportionate to the damage andTokio Marine & Nichido’s customer data, such as locations and property information, to determine theprovide support closely matched to the needs of the affected people.

damage on a customer-by-customer basis and significantly reduce the time before customers receive
their insurance claims.
This initiative was highly evaluated and granted the Claims Initiative of the Year – Japan at theInsurance Asia Awards 2021 hosted by the Charlton Media Group.
Tokio Marine & Nichido and ICEYE have concluded a capital and business alliance in February
2022. This alliance is aimed at advancing various initiatives, including the digital transformation of
insurance claims services related to natural disasters and the joint development of new insurance
products and services, by leveraging ICEYE’s technologies for high-precision, high-frequency earth
observation and its technology development team dedicated to the insurance field to help solve
diverse social issues.

Image showing the number of affected
policyholders in each area based on satellite
image analysis (Torrential rain in August 2021)

EXAMPLE:

Pluvial & Riverine FloodHitoyoshi Japan
Activated at 1:50am on
Saturday 4th July 2020.
5 analyses across 3 cities during
week-long flooding.
Analysis delivered within 24 hours
of initial image acquisition.

Water Depth (m)Buildings Impacted⬤ 0-0.45⬤ 0.45-0.9⬤ 0.9-1.5⬤ 1.5-2.5⬤ 2.5-5
⬤ 5+

3732
607
1352
1902
1311
10

AI analysis of satellite imagery to quickly assess damage in detail2023 Sustainability Report59Basics

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■Early Disaster Recovery Support Service through Tie-Up with BELFOR Group■Efforts to Develop an ISO Standard Certifying Disaster Preparedness

Tokio Marine & Nichido has established an exclusive partnership for providing services in Japan

Disaster prevention (Bosai) has been recognized worldwide, as evidenced by the Sendai Frameworkwith the BELFOR Group, one of the world’s largest disaster recovery support corporate groups, andfor Disaster Risk Reduction 2015-2030 adopted at the Third United Nations World Conference on

provides its corporate customers in particular with the Early Disaster Recovery Support Service forDisaster Risk Reduction in 2015 as well as by the declaration in 2019 by the G20 of institutionalizing

machinery, facilities, buildings and other property damaged in an accident or disaster. The BELFOR

the Sendai Framework. Accordingly, Japan has been leading an effort to develop an ISO standard

Group has provided many early recovery services for its customers’ factories, stores and other facilities

certifying disaster preparedness. It is aimed at creating value as a new industry; applying disasterdamaged by typhoons, floods and other wide-area disasters as well as everyday fire accidents acrossprevention products, services and infrastructure in society; and improving disaster preparedness inJapan. The BELFOR Group’s special technologies contribute to waste reduction by repairing, notJapan and throughout the international community.

replacing, damaged machines and equipment.
This initiative is being advanced as an international standardization project related to disaster
Reference: Special technologies representative of BELFOR

preparedness within an ISO project ( TC268: Sustainable cities and communities / SC1: Smart

1. Precision cleaning

community infrastructure / WG6: Disaster risk reduction). In Japan, the Ministry of Economy, Trade

Equipment is disassembled to clean electronic boards using alkali detergents and deionized waterand Industry commissioned the project to the Japanese Standards Association, which has beenuniquely developed by BELFOR and reassembled after complete drying of components in a vacuum

subsequently recommissioned to Professor Fumihiko Imamura of the International Research Institutechamber.

of Disaster Science (IRIDeS) at Tohoku University, with Tokio Marine & Nichido’s endowed researchdivision established within IRIDeS serving as the administrative organization.

[Illustration of targets of the disaster preparedness ISO]

BeforeAfter

2. Ultrasonic cleaning
Corroded metallic components are placed into an ultrasonic washing tank with a uniquely developed
rust-removing chemical and corrosion is removed quickly.

BeforeAfter2023 Sustainability Report60Basics

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Environmental
Initiatives

A technical report (TR 6030: Smart community infrastructure — Disaster risk reduction — Survey
results and gap analysis) with a list of categories that require disaster preparedness standards
was published in fiscal 2022. Based on the report, we submitted draft standards in two different
categories of “seismometers” and “concepts” to an international conference. Discussion is underway
to publish the standards in fiscal 2023 and fiscal 2024, respectively. Activities for officially proposing

SocialInitiatives

Understanding
the current situation
Monitor measurements tostay up to dateon changes. Enhance
analysis technologies.

international standards are also underway in risk finance and disaster food. Further, proposals
regarding disaster preparedness data standards and seismometer performance standards are in

GovernanceInitiatives

Taking action

Resilientsociety

Formulate risk assessments. Implement disasterprevention design,
construction, inspection
and management.

the pipeline. Alongside the promotion of standardization, the administrative organization is also

(mitigating damage)

Rebuilding
people’s lives

cooperating with BOSAI-TECH, a project planned and operated by the Sendai City government for

Disseminate
weather information andevacuation information. Understand damage in real time.

Support the mitigation ofdamage (initial action). Support
the prevention of recurrence(permanent action).

the creation and support of disaster-related venture businesses, to produce next-generation venturebusinesses to address social issues. Tokyo Marine Group supports these activities in many different

Evacuating

Sustainability
Performance Data

ways, for example, by sending employees to be members of discussion committees, mediating
cooperation with international organizations and participating in BOSAI-TECH.
Current agenda of subcommittees■Disaster Prevention Consortium (CORE) Aimed at Building a Disaster-Resilient Society

Use of remote sensing to identify infrastructure
maintenance and management risks

CORE was established by 14 companies in November 2021, with Tokio Marine & Nichido being theReal-time hazards

initiator. (As of August 10, 2023, it has been joined by 101 companies.) It is aimed at establishing

Risk assessment encompassing all hazards; application of risk assessment to community development
and disaster-preparedness measures

specific measures such as the creation and market deployment of new services for accelerating
and promoting new initiatives related to the prevention and mitigation of disasters in line with
the Fundamental Plan for National Resilience. The Consortium includes a plenary session andsubcommittees. The plenary session meets twice a year to address the domain of co-creation,
enabling government officials and experts to share information about market trends and other topics.
The subcommittees focus on competition-related domains, collecting the strengths of multiple
corporations to promote research and the development of solutions. Currently, the Consortium has
10 subcommittees and many of them have started field tests and similar activities. Examples include
the development of AI analysis technology to identify signs that a disaster will occur and the status
of disasters using camera imagery and the development of technology to save labor and streamline
damage surveys using sensors and satellites. These co-creation solutions are a unique feature of theConsortium that fosters cross-industrial cooperation.

Discussion of BCP from a community-based
perspective to supply pharmaceutical products inthe event of a disaster
Information services to maintain logistics functions
and business continuity in the event of a water
disasterPrediction of disasters that would necessitateevacuation
Use of digital technologies to survey damage andaccelerate recovery and reconstruction
Research into new disaster-preparedness information systems and using these systems to consider
disaster-preparedness businesses
Use of timelines to prevent damage to key facilities
such as hospitals and to enable them to continuefunctioning in the event of a flood
Comprehensive resilience support service forbuildings and building use

2023 Sustainability Report61Basics

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Performance Data

■ Enhanced Condominium Sustainability through Industry-Academia Collaboration■Making Fire Insurance and Fire Alarms Widely Available

In Hawaii, the number of aging condominiums has been increasing, resulting in more accidents such

South Africa-based Hollard Insurance offers a set that includes fire insurance and a fire alarm inas water leaks due to a lack of proper management and creating a social issue. In January 2023, First

collaboration with disaster-prevention company Lumkani, contributing to the prevention of fires

Insurance Company of Hawaii started providing a practical course in the analysis of its root causes

and the payment of compensation in the event of a fire. Offering the set at a price that is affordable

and the development of solutions in collaboration with a local university while conducting research

to low-income people helps make insurance and fire alarms widely available and increases society’s

to improve maintenance. In May 2023, the company developed a web platform for training anddisaster resilience. The number of distributors significantly increased in 2022, which has resulted in

information sharing to enable building managers to prevent water leaks. First Insurance Company

the creation of employment opportunities. By continuing to provide fire insurance and fire alarms toseeks to resolve social issues by proposing solutions to prevent accidents via industry-academia

more people, Hollard Insurance will protect people’s lives and valuable property from fires.

collaboration.

2023 Sustainability Report62Basics

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5.5 Protecting the Global Environment
5.5.1 Basic Stance on Protecting the Global Environment

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Performance Data

protection activities in Japan, including activities to protect the sea
and forests, such as the protection and restoration of eelgrass beds

aswell as afforestation efforts in Aki City, Kochi Prefecture, and a projecttorejuvenate the forest on the coast damaged in the Great East Japan
Earthquake.

In adapting to climate change, we will apply our knowledge of natural disasters and disasterprevention and mitigation, which we have accumulated over the course of our long history, to theCustomers’ selection of the web policy option leads to the conservation

preservation of biodiversity and wetlands by practicing business activities that give consideration toof paper resources. Additionally, it allows the company to reduce environmental footprint createdharmonization with and the improvement of the global environment and by carrying out mangroveby manufacturing paper and transportation to the company, mailing of policies to customers andplanting and other environmental protection activities around the world.

disposal of policies after expiry. In fiscal 2022, the number of contracts taking advantage of the
web policy option was approximately 12.18 million, representing a reduction in paper usage ofapproximately 3,072 tons.

5.5.2 Protecting the Global Environment through Products

and Services■ Disclosing Information on the “Green Gift” Project
To help customers better understand the activities of the Green Gift Project, Tokio Marine & Nichido

Through the Green Gift Project, which involves mangrove planting and environmental protection

established a Green Gift page on its website that reports on each of the initiatives. With regard

activities worldwide, we contribute to not only the alleviation of and adaptation to climate change

to mangrove planting activities, the page reports on topics such as planting activities in various

and the protection of biodiversity and wetlands but also the reduction in disaster damage andcountries where mangrove planting is undertaken, updates on the growth of planted saplings andstability in the lives of people in or near forested areas. In the future as well, Tokio Marine Group will

the volume of CO2 absorbed through planting.

continue to undertake the project, and by doing so, promote the creation of mangrove forests toward
the realization of a sustainable society.

Through this project, Tokio Marine & Nichido will continue to create social value via initiatives aimed
at the conservation of paper resources, prevention of global warming, conservation of biodiversity,◉ Creating Value through the “Green Gift” Project

reduction of disaster damage and contribution to local economies, communities and humanresources development.

Through eco-friendly products, Tokio Marine & Nichido acts as one with its agents in engaging in
global environmental protection initiatives and welcomes participation from customers as well.

◉ Promoting Non-Printing of Insurance Policies■ “Green Gift” Project System and Benefits of Reducing Paper

Since February 2013, Tokio Marine Millea SAST Insurance has been implementing, as part of its

With the support of its customers, in 2009 Tokio Marine & Nichido initiated the Green Gift

shift toward paperless operations, an initiative under which customers can view their policies on its

Project based on the concept of undertaking eco activities. Under this project, when a customer

website rather than on paper, which has helped reduce paper consumption.

chooses web-based insurance contracts (clauses) on its website rather than a paper-based
contract in brochure form, the company donates funds corresponding to a portion of the

In addition, since April 2013, a portion of the proceeds saved through this move has been usedvalue of the reduction in paper used to NPOs and NGOs involved in environmental protection

to support and participate in the tree-planting activity in Meguri’s Forest in Shonan International

activities. Such funds are then used to support mangrove planting overseas and environmental

Village, Kanagawa Prefecture, where the company’s head office is located. This project involves
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dense planting and mixed planting of a variety of locally indigenous seedlings, which are the most

1,150 hectares of new forest and has so far planted a total of 1,303 hectares over the four years fromstable seedlings and capable of survival, to let nature take its course in restoring the forest to its

fiscal 2019 to fiscal 2022. Despite the impact of COVID-19, which has caused a delay in the plan inoriginal form. By doing so, the project aims to “create a forest that protects life” and thus supports thecertain regions, Tokio Marine & Nichido remains committed to systematically promoting mangrovecommunity, economy and an enriched society.

tree planting to protect the abundance of nature.

Although nurturing the seedlings into

The mangrove planting initiative has earned extensive acclaim and Tokio Marine & Nichido wasa forest takes much time, through thispresented with the Minister of the Environment Award for Global Warming Prevention Activities

activity, employees, their families and the(International Contribution Category) in 2013. In 2019, which marked the 20th anniversary ofcompany are united as one in increasing

this project, Tokio Marine & Nichido announced the Mangrove-based Value Co-creation 100-Yearawareness of the need to protect the

Declaration under which it will create value in partnership with various stakeholders, including NGOs,

global environment.

government agencies in tree-planting regions, local community residents, employees, agents andcustomers. At the same time, the company also registered this initiative as a project of the United
Nations Communities of Ocean Action for supporting the implementation of SDG 14 and reports
progress to the United Nations annually.

◉ Green Gift Project (Activities to Protect Forests): Mangrove Planting■Status of Mangrove Planting■Benefits of Mangrove Planting for the Environment and Local Life
“Mangrove” is a generic term for flora that thrives in brackish waters (where seawater and fresh watermeet) along tropical and subtropical coastlines and river mouths in Asia, Africa and South America.
Mangroves are sometimes referred to as “forests in the sea” and are effective in mitigating global

Since 1999, Tokio Marine & Nichido has been conducting its Mangrove Planting Project primarily

warming as they absorb and fix large volumes of CO2, a major cause of global warming. They alsoin Southeast Asia. During the 24-year period to fiscal 2022, we planted a total of 12,261 hectares

serve as natural levees to protect people’s lives and local ecosystems from tidal waves, tsunamis andof new forest in nine countries: Indonesia, Thailand, the Philippines, Vietnam, Myanmar, Fiji, India,

other natural disasters.

Bangladesh and Malaysia. (We have consigned the work to evaluate the status of mangrove growthand CO2 absorption and fixation in planted areas to the Central Research Institute of Electric PowerMangroves protected the lives of many people as well as buildings and structures when the tsunami

Industry (CRIEPI) and have been receiving reports from the institute.)that occurred in the Indian Ocean hit in December 2004 and the typhoon that wreaked havoc in thePhilippines in November 2013 (named Yolanda in the Philippines and Haiyan in English). At present,

The activity was rolled out in 1999 as a commemorative project to celebrate the 120th anniversarymangroves are being planted in the Demak area of Indonesia and Gujarat State in India, which areof Tokio Marine & Nichido, with the original idea coming from employees who voiced their desire tosusceptible to coastal erosion and flooding, with the main objective being to protect people’s lives

launch a long-lasting initiative in the environmental field. The project is conducted in partnershipand keep buildings and structures intact.

with the NGOs Action for Mangrove Reforestation (ACTMANG), OISCA and the International Society
for Mangrove Ecosystems (ISME) and through collaboration with local governments and communities.

Mangrove forests also serve as “cradles of life,” as the roots of mangrove trees create a rich ecosystem

Under this initiative, Tokio Marine & Nichido formulated a five-year plan using the afforested area asby providing a sanctuary for living creatures such as small fish, shellfish, crabs and shrimps thata key performance indicator and monitors progress on a semi-annual basis. In the current five-year

feed off mangrove leaves and berries while attracting monkeys and birds, which in turn feed onplan (Phase V from fiscal 2019 to fiscal 2023), the company has set the target of planting a total ofthem. Mangrove trees also help ensure a gentle tide and waves at high tide and maintain water2023 Sustainability Report64Basics

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temperature. Fish and shellfish caught in the sea and in rivers near mangrove forests in Quảng

continue to grow, and the company has been putting more effort into activities that protect andNinh Province in Vietnam and Ranong Province in Thailand are the staple diet of the local people

nurture mangrove forests.

and a source of income through sales to intermediaries, thus contributing to sustainable regional
development. In addition, the mangroves themselves are being used in a variety of different ways.

■ Economic Value and Impact on Local Communities from Mangrove Planting

Along with the seeds and fruits being used to make soup and sweets, the leaves become feed for

To the present, mangrove planting has generated diverse benefits such as mitigating and preventing

farm animals and the trunks and branches are used as materials for the pillars and roofs of people’s

global warming, preserving biodiversity and contributing to the development of local economies,

homes, thereby providing excellent support to the lives of the people.

communities and human resources. However, expressing the specific economic value created bythis project had proved difficult. To determine this value, Tokio Marine & Nichido commissioned

Tokio Marine & Nichido considers mangroves as “insurance for the future of the Earth” because they

Mitsubishi Research Institute, Inc. to undertake a survey and make assessments based onprotect the planet and people’s lives and bring benefits. The company is committed to being involved

internationally recognized methods. The results of provisional calculations show that the total

in the Mangrove Planting Project for 100 years jointly with NGOs and local government agencies

economic value created by the Mangrove Planting Project from 1999 when the company started theand residents. The project has been up and running for 24 years to date and the mangrove forests

planting to 2019 totaled 118.5 billion yen.

Indian Ocean tsunami following earthquake off the island of Sumatra in December 2004

This project also impacts some 1.41 million people living where the mangroves are planted or nearby
and has generated benefits in terms of improving the lives of residents in these communities andpreventing and mitigating disasters. By ascertaining the numerical value of the outcomes of themangrove-planting activities, we were able to reaffirm our awareness of the positive social impactof this initiative. Going forward, we will utilize the results of this value assessment to improve ourMangrove Planting Project and continue to undertake these activities together with our stakeholders
as we aim to further create value.

Mangrove planting area in Ranong, Thailand, the area
behind which was protected from tsunami damage

Tale Nok near Ranong, Thailand, which did not havemangroves, was damaged by the tsunami.

Benefits of mangroves

12,2619(cumulative total at the end of March 2023)

Fish catches are more abundant thanks to the mangroves.
(Ranong Province, Thailand)

The young leaves of the grey mangrove are used as feed
for farm animals. (Gujarat State, India)

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Initiatives■ Mangrove Planting Tours
Since 1999, Tokio Marine & Nichido has promoted its Mangrove Planting Project in Southeast Asiaand other countries and regions.
About once a year, Tokio Marine & Nichido and Tokio Marine Group employees and agents as well as
their families participate in a mangrove planting volunteer tour to plant mangrove seeds and saplings
with local residents and visit villages and elementary schools in respective regions to promoteinternational exchange. Even though we were unable to hold the tours in fiscal 2020 and fiscal 2021,
we have conducted 20 mangrove planting volunteer tours to date, in which a total of approximately
590 members have participated.

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◉ Green Gift Project (Activities to Protect the Sea):
Protecting and Restoring Eelgrass Beds
In October 2022, Tokio Marine & Nichido launched activities to protect and restore eelgrass beds.
Eelgrass is expected to generate a positive effect of absorbing and fixating CO2 from the atmosphere,
as it absorbs CO2 through photosynthesis and sinks to the sea floor when it dies, becoming part ofthe sediment and retaining carbon for a long time in deep waters. Eelgrass beds also serve as sites
for fish to lay eggs and for young fish to grow and are expected to have additional effects, such as
the purification of water and the protection of biodiversity. In November 2022, about 100 members,
including Group employees, agents and their families, participated in a volunteer activity to scattereelgrass seeds in the Minato Mirai District in Yokohama.

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Environmental
Initiatives◉ Green Gift Project (Activities to Protect Forests):
Collaborative Afforestation Efforts in Kochi Prefecture:
Tokio Marine & Nichido’s Forest for the Future
In May 2009, Tokio Marine & Nichido concluded a five-year partners agreement with Kochi Prefecture,
Aki City and the Eastern Kochi Forestry Association to promote afforestation in Aki City under the
prefecture’s Collaborative Afforestation Project with Environmentally Advanced Corporations (thefive-year agreement was renewed in May 2019).
The forest covered under the agreement has been named “Tokio Marine & Nichido’s Forest for the
Future.” Every year, we conduct a volunteer tour for Group employees and agents including theirfamilies to experience tree thinning and socially interact with local residents. By March 2023, we haveheld 14 such tours, in which a total of some 610 members participated. Participants felt that it wasa project that taught them the importance of maintaining and protecting forests and the effort that
goes into doing so, and that they wanted to expand the initiative with every opportunity as their own
responsibility.

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◉ Green Gift Project (Activities to Protect Forests):
Restoration Projects of the Coastal Forests of Tohoku Region
Tokio Marine & Nichido supports activities of the NPOs OISCA and Watari Greenbelt Project torestore coastal forests damaged in the Great East Japan Earthquake in Natori City and Watari-cho,respectively, in Miyagi Prefecture.
In Natori City, the Organization for Industrial, Spiritual and Cultural Advancement-International(OISCA) has been leading the Restoration Project of the Coastal Forests of Tohoku Region. In the
project, the company has been participating in activities to restore coastal pine tree forests in thecity and to facilitate regional revitalization through the recovery of agricultural land and the creationof job opportunities in disaster areas. Under its policy of never forgetting the event and continuing
to do whatever it can, even in small ways, the company launched an employee volunteer programin fiscal 2016. The company has organized five tours to date, and a total of approximately 50 people
have participated, including Group employees, agents and their families.
The NPO Watari Greenbelt Project has been engaging in an initiative to restore tide-control forests
along the coastal areas and promote the recovery and new community development of Wataricho, Watari-gun, Miyagi Prefecture. Since fiscal 2013, Tokio Marine & Nichido has been soliciting andsending employee volunteers on tours to assist the initiative. During each tour, they visit the coastal
areas devastated by the tsunami, remove weeds in tree-planting areas and assist in the cultivationof saplings that will be planted along the coast. The company has to date conducted 25 such tours,with the participation of approximately 370 employees, including Group employees, agents and theirfamilies.

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Initiatives◉ PHLY 80K Trees Initiative
Philadelphia Insurance Companies (PHLY ) continues to partner with the Arbor Day Foundation

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5.5.3  I nitiatives for Reducing the Environmental Footprint in

the Value Chain

through the “80K Trees” tree planting program which was established in 2015. Throughout the UnitedStates, record wildfires, storms and other natural disasters have destroyed millions of trees in forests
in recent years. According to the U.S. Forest Service, there has been an annual reduction of about◉ Promoting Eco-Safe Driving and the Use of Recycled Auto Parts

175,000 acres of treed areas in cities and communities in the United States. The loss is equivalent to

From the perspective of creating a recycling-based society and reducing the burden on thesome 36 million trees annually.

environment (i.e., curbing CO 2 emissions from the manufacture of parts), Tokio Marine Group iscalling on employees to engage in the Eco-Safe Driving program of The General Insurance Association

PHLY is on a mission to invest in healthy forests and ecosystems to provide greater security toof Japan and is actively using recycled auto parts* when repairing vehicles used by Group companies.

communities and has been participating in two activities, namely the 80K Trees initiative andcommunity planting programs.

Furthermore, Tokio Marine & Nichido, Nisshin Fire and E. design Insurance are taking action in calling
for the use of recycled auto parts and proposing the use of these parts to individual and corporate

In 2022, PHLY planted trees through the 80K initiative in Montana and Florida, thereby contributing

customers who have met with accidents.

to the restoration of areas affected by disasters and wildfires and the improvement of living habitats* Number of instances of use of recycled auto parts (fiscal 2022, Tokio Marine & Nichido): about 16,242

and biodiversity.
With the approval of customers, Tokio Marine & Nichido is making efforts to expand the use ofCommunity planting programs on Arbor Day were launched in 2021 in response to safety

recycled parts. The company’s actions include distributing pamphlets to boost awareness of the

precautions related to the pandemic and have been impacting areas in need of tree canopy, clean

Recycled Parts Usage Promotion Campaign among agents and auto repair shops, as well as creating

air and improved walkability. In 2022, the planting events were held in Philadelphia (Pennsylvania),

content for tablet devices to aid these businesses in easily explaining the merits of recycled parts to

Sacramento (California) and Chicago (Illinois), in which about 70 PHLY employees participated incustomers.

planting approximately 350 trees. Over the next 40 years, the trees planted during these eventsare estimated to reduce 1.36 tons of air pollutants, avoid 762,428 gallons of rainwater runoff and* Recycled parts are said to have an effect in reducing CO2 emissions compared with new parts (23.1 kg for a bumper, 97.3 kg
for a door, etc. (Source: Survey by The General Insurance Association of Japan))sequester 217 metric tons of CO2 emissions in their communities.
PHLY and the Arbor Day Foundation
helped the planting of approximately
500,000 trees over the seven years from2015. This, in turn, has restored 864 acresof forests, avoided 52,000,796 gallons ofrainwater runoff, sequestered 369,076
metric tons of CO 2 and removed 1,895
tons of air pollutants.

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5.5.4  Preservation of Natural Capital and Biodiversity
Tokio Marine Group has positioned the preservation of natural capital and biodiversity as a challengethat needs to be tackled, and we are striving to find a solution throughout business activities.

◉ Tokio Marine Group’s Vision for Preserving Natural Capital and Biodiversity
Preserving natural capital and biodiversity translates into a variety of benefits, namely, lower
emissions of greenhouse gases, mitigation of disaster risks from tsunamis and floods andrevitalization of regional economies, and contributes to the creation of a sustainable future. Tokio

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Tokio Marine Group’s Vision for Biodiversity
Tokio Marine Group recognizes the preservation of biodiversity as one of its most importantenvironmental issues and, as a good corporate citizen, conducts initiatives for thepreservation and sustainable use of biodiversity under the following two themes.
❶ We endeavor to understand our relationship with biodiversity (benefits and impact) inour business activities to reduce our impact on biodiversity and to preserve biodiversity.
❷ We engage in educational activities on the preservation of biodiversity for the generalpublic and work with our stakeholders to contribute to the development of a sustainable
society.

Marine Group recognizes the importance of achieving the goals of the Convention on Biological

Tokio Marine & Nichido’s Stance on Biodiversity

Diversity, the Kunming-Montreal Global Biodiversity Framework, the Convention on Wetlands ofTokio Marine & Nichido states in its environmental policy that it will strive to contribute toInternational Importance especially as Waterfowl Habitat (Ramsar Convention) and the Convention

protection of the environment and preservation of biodiversity in its business activities,

on International Trade in Endangered Species of Wild Fauna and Flora (Washington Convention) andincluding insurance products, non-life insurance services and financial services. Efforts are

aspires to contribute to becoming nature positive (halting and reversing loss of diversity).

being made to preserve biodiversity by making this a priority in business activities.

In addition, Tokio Marine Group contributes to the preservation of natural capital and biodiversity,

Protecting the Global Environment through Products and ServicesP articipation in Social Contribution and Awareness-Raising Activities for the Protection of the Global
Environment

prevention of deforestation and the preservation and restoration of forests by reducing paper usage
through insurance products subject to our customer-participating, environment-conscious Green
Gift Project as well as by conducting mangrove planting overseas and environmental protection
programs (including the protection and restoration of eelgrass beds) in Japan. We undertake such
efforts as a member of the United Nations Environment Programme Finance Initiative (UNEP FI), thePrinciples for Financial Action for the 21st Century initiative of the Ministry of the Environment (MOE),
the Promotion Partners program under The Declaration of Biodiversity by Nippon Keidanren and the
30 by 30 Alliance for Biodiversity also of the MOE, and based on the vision outlined below. This visiondraws on the Millennium Ecosystem Assessment, the Economics of Ecosystems and Biodiversity(TEEB) and the Guidelines for Private Sector Engagement in Biodiversity issued by the MOE.

◉ Participation in the Promotion Partners Program under The Declaration of
Biodiversity by Nippon Keidanren
Tokio Marine & Nichido supports The Declaration of Biodiversity by Nippon Keidanren and in January2010 joined the Promotion Partners program under the declaration. Our business activities comply
with the declaration and its behavioral guidelines.
The Declaration of Biodiversity by Nippon Keidanren (in Japanese)

Initiatives for preserving natural capital and biodiversity as well as preserving and restoring forests◉ Participation in the 30 by 30 Alliance for Biodiversity by the MOE

are closely associated with the human rights issues concerning indigenous peoples and local

Tokio Marine & Nichido joined the 30 by 30 Alliance for Biodiversity launched by the MOE in April

community members. Tokio Marine Group desires to help resolve these issues as well through its

2023 to end and reverse biodiversity loss (i.e., become nature-positive) by 2030 and achieve the 30

business activities.

by 30 target of protecting at least 30% of Japan’s land and sea areas by 2030. The company will work
together with its stakeholders to preserve biodiversity and wetlands and protect and restore forests.

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5.5.5 Participation in Social Contribution and Awareness-

Raising Activities for Protection of Global Environment
Tokio Marine Group is implementing local and social contribution activities around the world that
help protect the environment and biodiversity. These activities emphasize voluntary engagement by
employees and tie-ups with NPOs and other groups.

◉Social Contribution and Awareness-Raising Activities for Environmental Protectionin Collaboration with Local Governments in Japan

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Performance Data

■Marunouchi Citizens Environmental Forum
Every year, Tokio Marine & Nichido holds a social and environmental awareness seminar, theMarunouchi Citizens Environmental Forum, jointly with Mitsubishi Corporation. At the 64th forum
held online in fiscal 2022, we invited underwater photographer Ikuo Nakamura to talk about what hehas recognized, including environmental changes, in the sea under the theme of “Warning from the
Sea – The World through the Camera Lens.”
Some 200 people from inside and outside the company attended, some of whom commented thatthe forum was a good opportunity to think more about what we can do now and carry out eachaction.

Tokio Marine Group engages in social contribution and awareness-raising activities for environmental
protection through Green Lessons: The Mangrove Story; Collaborative Afforestation Project with
Kochi Prefecture; and Marunouchi Citizens Environmental Forum.
■Green Lessons: The Mangrove Story
As part of its efforts to raise environmental awareness, since 2005 Tokio Marine Group has provided
Green Lessons: The Mangrove Story, an environmental education program for children in elementaryand special needs schools. Employee and agent volunteers visit these schools and give lectures inwhich they tell stories about mangrove planting. Through these lectures, children and students learn
about the prevention of global warming, preservation of biodiversity, how mangrove trees serve
to reduce tsunami damage and soil loss, and activities they can carry out themselves to protect the
global environment.
As of March 31, 2023, the Group visited around 900 elementary and special needs schools throughout
Japan and provided Green Lessons to 59,000 children.
 amomaru’s Laboratory for the Future (Tokio Marine & Nichido’s educational program for children who
Mwill lead the future) (in Japanese)

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Environmental
Initiatives◉Social Contribution and Awareness-Raising Activities for Environmental Protection
by Overseas Group Companies
In Tokio Marine Group, U.S.-based Philadelphia Insurance Companies (PHLY ) is promoting
environmental activities in different locations that include participation in Earth Day.
■TEAMPHLY Initiatives
U.S.-based PHLY has been encouraging its employees to take part in initiatives to protect theenvironment in the workplace, home and local community in order to leave behind a beautiful
environment for the next generation. PHLY has explored how to make a positive impact on theenvironment through products and services, environmental footprint reduction in the office andthrough community involvement.
PHLY offers a number of environmental underwriting products that protect businesses seeking to
improve sustainability practices. Additionally, PHLY’s Commercial and Surety bonds support wind andsolar energy.
As part of its risk management services, PHLY offers the PHLYTRAC Vehicle Telematics Program.
The program helps customers select more efficient routes to reduce vehicles’ engine idling andSocialInitiatives

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Sustainability
Performance Data

■Participation in Earth Day Events
U.S.-based PHLY conducted various activities to promote Earth Day as part of its employee-driven
environmental awareness program.
In 2022, all employees were encouraged to celebrate Earth Day through environment-focused
volunteer activities, such as removing and recycling plastics through a cleanup event designed toprotect waterways.
In addition to such in-person events, online volunteer events were also provided to increase theopportunities to join Earth Day. Examples include creating balls of plastic yarn (“plarn”) from plasticbags to be crocheted into sleeping mats for the homeless and recycling old T-shirts to make bags anddonating the bags to a local shelter. More than 40 employees also participated in “plalking” (picking
up litter while walking), a combination of community service and fitness.
Earth Day celebration activities included:• Environmental volunteer activities• Donations to environmental NPOs
• Hosting an Earth Day Webinar

has successfully improved the driving range per gallon of gasoline by 3.76%. This and other similar
products and services show PHLY’s commitment to climate action.
The company also continues its purchase of renewable energy certificates to offset CO2 emitted
through the use of power in offices throughout the United States. In 2022, PHLY’s renewableenergy certificate purchase supported the development of wind energy products equivalent to theelectricity used to power 1,042 average homes in the U.S. for one year.
In addition to these business practices, many PHLY employees across the country choose to support
organizations whose missions are geared toward environmental preservation through volunteer
efforts. PHLY’s home office supports Riverfront North, Wissahickon Valley Watershed Association andTookany/Tacony-Frankford Watershed through volunteerism, three organizations whose missions aim
to sustain local waterways.
TEAMPHLY

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5.6 R esearch on Climate Change andNatural Disaster Risks

Responding to risks associated with climate change and natural disasters, one of Tokio Marine Group’s
sustainability material issues, also comprises a major management issue that the global insurance industry
must address in the medium to long term.
Through industry-academia collaboration with The University of Tokyo, Nagoya University, Kyoto
University and Tohoku University, Tokio Marine Group engages in research on climate change and natural
disaster risks in an effort to gain deeper scientific insight into disaster prevention and mitigation and toraise the sophistication of measuring methods through risk modelling to ascertain risk volume in evengreater detail. Our efforts in this area include the development of a stochastic risk assessment approach.
We believe that in addition to providing products and services in developed countries it is also important
to disseminate the ideas of an insurance mechanism and risk management practices in developing
countries and regions particularly vulnerable to the impact of climate change and natural disasters inaccordance with the Sendai Framework for Disaster Risk Reduction 2015-2030, which provides new world
guidelines for disaster risk reduction.

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Nations World Conference on Disaster Risk Reduction held in Sendai in March 2015. There is a concern
for the growing natural disaster risk due to climate change, and Tokio Marine Group, working toresolve disaster issues and mitigate disaster damage, also gives due attention to the goal of the Paris
Agreement and intends to contribute to its achievement.
Climate change due to global warming and other factors is considered to possibly bring aboutmajor changes in the frequency and scale of weather disasters in the future. Therefore, analyses only
from historical data cannot assess risk appropriately and may significantly impact the calculationof insurance premiums and the ability to pay insurance claims in the event of a serious disaster.
In response, Tokio Marine Group conducts research on climate change and natural disaster risks
and on earthquake and tsunami risks through industry-academia collaboration and presents theoutcomes at conferences and forums on disaster risk reduction. We also utilize these outcomes inour social contribution activities and disseminate relevant information to the public. Additionally,
we proactively participate in initiatives and events related to climate change to disseminate theoutcomes and details of our industry-academia research activities to the world and engage in multistakeholder dialogue to share information about the latest research projects and discuss how topromote disaster prevention.
Industry-academia research

Dissemination of information

Multi-stakeholder dialogue

To this end, we are working to resolve disaster issues and mitigate disaster damage globally by using the

Climate change andweather disaster risk

Local disaster prevention andsocial contribution activities

outcomes of our industry-academia research to the benefit of society and by taking part in international• Joint research with The Universityof Tokyo on forecasting futurechanges in typhoon risk
• Joint research with Nagoya
University on forecasting futurechanges in precipitation amounts
during a typhoon and heavy rain
• Joint research with Kyoto
University on Typhoon Jebi in 2018
and other disasters• Disaster Prevention Lessons• Online seminar by the Tokio
Marine Research Institute andTokio Marine & Nichido• Supporting the formulation ofdisaster mitigation and tsunami
evacuation plans of regional
municipal bodies

Discussions on climate change,
natural disaster risks andclimate-related disclosures• Participating in discussions topromote sustainable investment• Making presentations on climatechange and disaster prevention• Providing TCFD-related
information and knowledge

Earthquake and tsunami risk

Website and tools

Initiatives and events related
to climate change risk

initiatives, such as the United Nations Office for Disaster Risk Reduction (UNDRR) Private Sector Alliancefor Disaster Resilient Societies (ARISE) and The Geneva Association’s Climate Change and Emerging
Environmental Topics (CC+EET) Working Group.

5.6.1 I nitiatives to Counter Climate Change and Natural Disaster

Risks
The 21st session of the Conference of the Parties to the UNFCCC (COP21) held in December 2015
adopted the Paris Agreement as a new international framework of measures against climate change
for 2020 and beyond. As the world’s common long-term goal, the Paris Agreement aims to keep a
global temperature rise below 2ºC compared with pre-industrial levels while pursuing efforts tolimit the increase even further to 1.5ºC. The agreement also makes a clear link between itself and the
Sendai Framework for Disaster Risk Reduction 2015-2030, which was adopted at the Third United• Earthquake and tsunami risk

research with the International
Research Institute of Disaster
Science (IRIDeS) at Tohoku
University✓Research and development andhuman resources development indisaster science✓Research on earthquake andtsunami risk at an endowed
research division named theEarthquake-induced Tsunami Risk
Evaluation Field (Tokio Marine &Nichido)✓Formulation and implementation oftsunami evacuation programs, andothers• For Tomorrow’s Smiles: Disasterprevention and mitigation
information website• Handkerchief bearing information
on disaster prevention• TCFD webinar hosted by ADB• Roundtable on pandemic risk
hosted by ABAC
• Asia Pacific Science andTechnology Conference forDisaster Risk Reduction

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5.6.2 R esearch on Climate Change and Natural Disaster Risks

research, is conducting front-line research into climate change and other climate systems using an◉ Building a Society Capable of Adapting to Climate Change and Natural Disaster
Risks

Masahiro Watanabe, our co-researcher, and other researchers have contributed as lead authors to

By matching forecasts of future changes in risk due to climate change and other meteorological risk

research results.

integrated analysis of observation data and results of simulations based on climate models. Professor
the creation of the IPCC assessment reports, which are a compilation of the latest findings on climatechange, and The University of Tokyo has received acclaim from around the world for the widely usedassessment approaches to a base of conventional risk assessment approaches, Tokio Marine Group isaiming to create a more advanced approach to climate change and natural disaster risk assessment.

In joint research with The University of Tokyo, we have developed an original stochastic typhoon odel
and investigated the relationship between global warming and changes in typhoons by simulating■Utilizing Research Outcomes to Provide Products and Services for Adapting to Climate Change

typhoons under future climate conditions using the latest set of global warming data. The research

There is a concern that damage concerning natural disasters will increase due to climate change andto date has revealed that global warming will cause typhoons to take more eastward tracks andthe resulting greater fluctuations in natural phenomena. Tokio Marine Group is promoting initiatives

become stronger and will increase the number of typhoons reaching their maximum strength nearto resolve natural and other disaster issues and mitigate disaster damage through its businessJapan. These findings generally align with the content of the IPCC assessment reports. In fiscal 2021,

operations. However, as changes in climate and fluctuations in natural phenomena increase, using

we updated the dataset we use for simulation to the Coupled Model Intercomparison Project Phase 6

only the past disaster and insured contingency data may prevent appropriate natural disaster risk

(CMIP6), the latest dataset that has contributed to the creation of the IPCC Sixth Assessment Reportassessment and may reduce our ability to provide insurance products and services covering natural

released in August 2021. Using the dataset, we have been forecasting future changes in typhoons in

disaster risk to customers and local communities as we have done previously.

respective global warming scenarios.

In response, Tokio Marine Group seeks to promote research on climate change and natural disasterrisks in collaboration with the world’s leading scientists and researchers and to use research outcomes
and other various findings broadly to the benefit of society. Simultaneously, as a corporate groupengaging in the insurance business, we intend to translate our research activities into the ability tosustainably provide insurance products and related services to customers and local communities.
Tokio Marine Group will continue to forge ahead with research on climate change and natural disasterrisks with the world’s leading researchers through industry-academia collaboration and proactively
leverage knowledge gained through such research.
• J oint Research with The University of Tokyo: Forecasting Future Changes in Typhoon Risk
Using Climate Model Data
With the aim of forecasting and evaluating future changes in typhoon risk, the Tokio Marine ResearchInstitute has been continually undertaking joint research with The University of Tokyo since 2007.

These are the results of simulations using
the stochastic typhoon model to determine
where typhoons will reach their maximum
strength. Charts (a) and (b) show the data of
past typhoons and simulation results under
future climate conditions, while Chart (c) isthe difference between the two, revealingt h a t m o re t y p h o o n s w i l l re a c h t h e i r
maximum strength on the sea near Japandue to global warming.

The Atmosphere and Ocean Research Institute at The University of Tokyo, our partner in this joint
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• Dispatching a Researcher to Yokohama National University’s Typhoon Science and Technology

adoption of the Database for Policy Decision-Making for Future Climate Change (“d4PDF”) developed

Research Center and Participating in the Moonshot Research and Development Programby MRI and other organizations. We are currently carrying out research on methods that can forecast

The Tokio Marine Research Institute has been dispatching its researcher to the Typhoon Science

more localized future changes and continual changes over time in torrential rain patterns.

and Technology Research Center as a visiting researcher. The Center, which is Japan’s first research
institute specializing in typhoons, was established in the Yokohama National University in October
2021. It seeks to contribute to the establishment of a safe, vibrant and sustainable society bycontrolling typhoons and to the realization of a decarbonized society by harnessing typhoon energy.
Leveraging its standing as a private sector research institute that is both a member of academia anda business enterprise, the Tokio Marine Research Institute will aim to make a contribution in terms ofresearch activities and the social implementation of research outcomes together with the Center’s
researchers and other companies.
The Tokio Marine Research Institute is also participating in a research project conducted under
the Moonshot Research and Development Program of Japan’s Cabinet Office, in which Yokohama
National University Professor and the Center’s Director Hironori Fudeyasu serves as the project
manager.
• J oint Research with Nagoya University: Analysis of Strength and Frequency of Torrential Rain in

These charts represent an extracted example based on the d4PDF showing the maximum level of flow
volume of the Arakawa River in a 2ºC rise scenario. The chart on the left indicates hourly rainfall, surface
wind speed and atmospheric pressure, while the chart on the right shows precipitable water and water
vapor flux. In this example case, a typhoon causes considerable rainfall along the Arakawa River valley.

• Joint Research with Kyoto University: Assessment of Water Disaster Risk under Future Climate

the Future due to Global Warming

Conditions

With the aim of forecasting how the strength and frequency of torrential downpours, which cause

With the aim of quantitatively assessing changes in water disaster risk under future climate

water disasters, are changing along with global warming, the Tokio Marine Research Institute isconditions, the Tokio Marine Research Institute is engaging in joint research with the Disaster

performing joint research with the Institute for Space-Earth Environmental Research at Nagoya

Prevention Research Institute and the Graduate School of Engineering at Kyoto University.Professor

University. Our co-researcher, Professor Kazuhisa Tsuboki from the university, is a leading expert

Eiichi Nakakita and Professor Yasuto Tachikawa, who are our co-researchers, are top-class researchers

in this area. He has developed a high spatial resolution model capable of performing detailed

in this area, and we are proceeding with research by also leveraging know-how for forecasting thesimulations of such aspects as clouds and precipitation, and is advancing research into thestrength and frequency of torrential rain under future climate conditions, which we have gained

mechanisms of torrential rain, typhoons and other phenomena.

through joint research with Nagoya University.

Since its launch in 2010, joint research has been conducted to pursue a more accurate forecasting

Since its launch in 2012, joint research has forecast future changes in river flow volume by using amethod. We have first simulated how past typhoons will change under future climate conditions

rainfall runoff model to simulate river flow volume based on precipitation data. First, we have built

to forecast changes in typhoon-induced rainfall. We have then utilized the results of simulations

a rainfall runoff model for river valleys in Japan, including the Arakawa, Shonai and Yodo rivers, toconducted by the Japan Meteorological Agency’s Meteorological Research Institute (MRI) to forecast

forecast future changes in river flow volume. Then, we expanded the scope overseas and adapted

future changes in rainfall, including non-typhoon precipitation. More recently, we have madethe model for river valleys that are considerably different from those in Japan, customizing it for thestochastic future forecasts based on the enormous number of simulation results through the early

Red River in Vietnam and the Chao Phraya River in Thailand. In recent years, we have been using thed4PDF for precipitation data used in our model simulation and performing stochastic water disaster2023 Sustainability Report74Basics

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risk assessment based on thousands of precipitation data patterns. Currently, our ongoing researchaims to develop methods targeting river valleys in Japan to enable the efficient forecast of river flow
volume of multiple river valleys, including small and medium-sized rivers.

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■Building a Resilient Society Capable of Assessing, Reducing and Adapting to Earthquake andTsunami Risk
After the Great East Japan Earthquake hit in 2011, diverse disasters, including major earthquakes andwind and water disasters, have continued to inflict serious damage around the world. Against thisbackground, Tokio Marine Group brings together the data and expertise gained through its non-life
insurance and risk consulting businesses to advance initiatives leading to the safety and security ofsociety.
• E arthquake and Tsunami Risk Research in Collaboration with the International ResearchInstitute of Disaster Science at Tohoku University
In July 2011, a few months after the Great East Japan Earthquake, Tokio Marine Group concluded
an industry-academia collaborative agreement with Tohoku University and began research anddevelopment and human resource development initiatives in disaster science. The initiatives drew
upon Tohoku University’s knowledge and data concerning tsunami risk assessment and other areas

The photo on the left is the Chao Phraya River in Thailand, one of the target river valleys of ourresearch. The chart on the right shows peak discharge of each year under 2˚C and 4˚C rise scenarios,
which were forecast using the d4PDF. The chart reveals that peak discharge will increase in line withhigher temperatures.

of disaster science, and Tokio Marine & Nichido’s knowledge accumulated through its insurance
business. At Tohoku University, the International Research Institute of Disaster Science (IRIDeS) andan endowed research division named the Earthquake-induced Tsunami Risk Evaluation Field (Tokio
Marine & Nichido) established within IRIDeS have researchers, including Professor and IRIDeS Director• Research Presentations at Academic Societies and Other Gatherings
The Tokio Marine Research Institute proactively publicizes the results of its research throughpresentations at academic and other conferences. We have been continually announcing the resultsof joint research with The University of Tokyo, Nagoya University and Kyoto University, respectively,
at the Meteorological Society of Japan since fiscal 2008 and the results of joint research with Nagoya

Fumihiko Imamura, Specially Appointed Professor Kenichi Kamata, Academic Fellow and Professor
Shinichi Takeda, Associate Professor Anawat Suppasri, Specially Appointed Associate Professor David
N. Nguyen, Assistant Professor Noriko Uchida and Project Instructor Mari Yasuda, who are engaging
in research on the assessment of earthquake and tsunami risk and activities to promote disasterprevention and mitigation in local communities.

University and Kyoto University, respectively, at the Japan Society of Hydrology and Water Resources
since fiscal 2013. We have written academic papers on some joint research findings and submitted
them to academic journals. To date, the following two peer-reviewed papers have been included in
the collections of academic papers of the Japan Society of Civil Engineers.
• Forecasts of future changes in extreme flow volume of the Red River in Vietnam using the d4PDF(included in September 2020)• Forecasts of future changes in extreme flow volume of the Chao Phraya River in Thailand based on
the d4PDF to which multiple bias corrections have been applied (included in September 2022)
Fiscal 2023 members of the Endowed Research Division, IRIDeS,
Tohoku University

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To date, we have identified actual damage caused by the Great East Japan Earthquake, assessedSocialInitiatives

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communities and countries across the world and deliver solutions for a safe and secure future.

tsunamis following major past earthquakes, conducted research on tsunami risk assessment methods
that take into consideration vulnerabilities and disaster preparedness in society and published theDuring the Great Kanto Earthquake that occurred 100 years ago, a large tsunami hit along the coasts

findings both in Japan and overseas. We have also provided disaster prevention education, heldof the Kanto region and Shizuoka Prefecture. The height of the tsunami is said to have reached 12

awareness-raising seminars and developed disaster prevention educational tools to disseminate themeters in Atami, Shizuoka Prefecture, and 9 meters in Tateyama, Chiba Prefecture, but details remainknowledge thus obtained widely throughout society. Among the members of the team, in particular,

unknown. On this occasion, we simulated the occurrence and propagation of the tsunami using

Associate Professor Anawat Suppasri received a Young Scientists’ Award 2022 in the Commendation

the 2013 models of Japan’s Cabinet Office. The results showed that a tsunami in Sagami Bay hit thefor Science and Technology by the Minister of Education, Culture, Sports, Science and Technology

coastal areas in a few minutes (Chart 3) and then flowed into Tokyo Bay (Chart 4). In the future, we

in recognition of his research that has led to the establishment of a practical method to estimate

will confirm the fidelity of the simulated tsunami, while carrying out comparative verification of thetsunami damage and contribute to the mitigation of damage globally.

records at the time, and compile the characteristics of how the tsunami hit on the day.

Chart 1 shows the simulation results of the tsunami caused by the 2011 Great East Japan Earthquake,
which hit areas near Kesennuma City, Miyagi Prefecture. This simulation enables us to estimate the
distribution of debris and other objects washed ashore and the volume of tsunami deposits, andprovides data that is valuable in formulating measures for preventing combined damage as well as
post-disaster response plans. Chart 2 is a guide for school administrators showing how to performtsunami evacuation during the COVID-19 pandemic, developed jointly with UNDRR and the United
Nations Development Programme (UNDP). It was released in 2020 on the day designated as World
Tsunami Awareness Day and has been contributing to disaster prevention and mitigation both in andoutside Japan.

Chart 3Chart 4Through industry-academia collaboration with Tohoku University as well as collaboration with• Assessment of Resilience Using Biodiversity as an Index

various industry, government, academia and private-sector stakeholders, Tokio Marine Group will

Natural ecosystems greatly affect the resilience of human society as they can mitigate and act as acontinue to promote efforts to support recovery of disaster-affected areas, increase resilience in local

buffer against the impacts of natural disasters; provide food, clothing and shelter for people; andserve as a foundation for forming a distinctive local landscape and culture. Assistant Professor Noriko
Uchida, who joined the team at IRIDeS, Tohoku University, in 2020, has been engaging in researchon “environmental DNA” to quantify biodiversity, measurement of which has been difficult. In fiscal
2022, she started measuring the environmental DNA of insects, crustaceans and fish in diverse
environments that exist horizontally between the sea and land, such as swash zones, sand beaches,sand hills and tidal lands. The data obtained from the research is expected to contribute to the coexistence of human society and ecosystems, for example, through the framework developed by theTaskforce on Nature-related Financial Disclosures (TNFD) to disclose information on how systems in

Chart 1: Simulation of the combined damage in Kesennuma City caused by theearthquake-induced tsunami in the Tohoku region in 2011 (Created by IRIDeS, Tohoku
University)

human society centered on economic activities impact ecosystems. In the future, her work will target
Chart 2: Tsunami Evacuation
during COVID-19: A Guide
for School Administrators

mangrove forests, which have drawn attention for their roles in disaster prevention and people’s
livelihoods, to explore its ecosystem linked to the lives and safety of people.
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• Research Presentations at Academic and Other Conferences• Summary of Activities to Date

We present and disseminate the results of the above research at academic conferences andIn April 2012, an endowed research division named the Earthquake-induced Tsunami Risk Evaluation

symposiums both in and outside Japan. In fiscal 2021, we conducted 14 presentations at academic

Field (Tokio Marine & Nichido) was established within IRIDeS at Tohoku University. This division has

and other conferences in Japan and overseas and disseminated information at the Seventh National

been engaging in basic and practical research on the following topics.

Conference on Disaster Risk Reduction held in Kobe, Hyogo Prefecture, in October 2022 and the
Sendai Symposium for Disaster Risk Reduction and the Future held in Sendai, Miyagi Prefecture,

PeriodResearch topic[Phase 1]
April 2012 –Research into earthquake and tsunami risk assessment•A nalysis of the wave height distribution and arrival time of tsunamis caused by major pastearthquakes, including the Great East Japan Earthquake•R esearch and development of more reliable damage simulations that take into consideration
vulnerabilities and disaster readiness capabilities in society both in Japan and overseas andtsunami risk assessment methods that factor in the probability of occurrence•R esearch into tsunami evacuation (e.g., providing basic information for disaster mitigation
planning of coastal areas and cooperating in formulation of tsunami evacuation plans ofregional municipal bodies)[Phase 2]
April 2015 –• Research on effects of coastal forests to mitigate tsunami damage•R esearch on raising the sophistication of tsunami numerical simulation models(encompassing simulations of tsunami-induced flooding, movement of floating objects andmovement of soil)•D evelopment of a mobile application (to assess the depth of immersion and immersed
surface areas of the 2011 tsunami and subsequent damage to fishing boats)[Phase 3]
April 2018 –•R esearch on damage to farming rafts and eelgrass beds caused by the 2011 earthquake andtsunami• Research on assessment of global tsunami hazards and risk
• Research on human damage in past tsunamis[Phase 4]
April 2021–•R esearch on comprehensive disaster prevention of local communities through ecosystems
in coastal areas• Research on quantification of cascading disasters•A nalysis of fatalities of the Great East Japan Earthquake in Miyagi Prefecture with a focus onwhere the victims were found•R esearch on examination of the sustainability of diverse disaster prevention education
techniques, including on-demand educational materials

in March 2023. As another specific example, we planned and conducted a panel discussion during
the World BOSAI Forum 2023 held in March 2023 in Sendai on the theme of sustainable disasterprevention and mitigation and expanding diverse collaboration for the purpose of disaster prevention
and mitigation. The year 2023 marks the centennial of the Great Kanto Earthquake, and we intend
to disseminate information in and outside Japan on the future direction of disaster prevention andreconstruction to be planned in advance while comparing the experience and lessons gained frommajor earthquakes, including the Great Kanto Earthquake and Great East Japan Earthquake.
[Major presentation (example)]
Sendai Symposium for Disaster Risk Reduction and the Future 2022 (PDF/5.2MB) (in Japanese)• Disaster Surveys
We also conduct damage and other surveys and risk assessments when a major disaster strikes
in or outside Japan. Under a science research grant program of Japan’s Ministry of Education,
Culture, Sports, Science and Technology, we have conducted research for the 2022 Tonga tsunami
on its mechanism and social impacts and a survey on damage to the fishery industry and released
an academic paper in a timely manner, which was also presented at an international academic
conference. As a member of a new five-year program under the Science and Technology ResearchPartnership for Sustainable Development (SATREPS) of the Japan Science and Technology Agency(JST), in fiscal 2022 we also initiated research on a new sustainable system for establishing a resilient
society in the coastal areas of Indonesia as well as related social contribution activities. Additionally,in response to the Turkey-Syria Earthquake that occurred in February 2023, we dispatched asurvey team and are working with local researchers to identify damage and provide recovery andreconstruction support.

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5.6.3 D isseminating Relevant Information
Through employee volunteer activities, Tokio Marine Group disseminates disaster prevention
information via the media and holds disaster prevention seminars for children and adults withsupport from research institutes who are our joint research partners.

◉ Delivering Safety and Security to Children and Small and Medium-Sized Companies■Providing School Disaster Mitigation Awareness Lessons through Tohoku University
Utilizing the lessons learned from the Great East Japan Earthquake, Tokio Marine & Nichido’s endowed
research division (Earthquake-induced Tsunami Risk Evaluation Field) established within IRIDeS,

Photo 1: Disaster prevention and mitigation workshop

Photo 2: Snapshot of an online lesson

Tohoku University, has been providing school disaster mitigation awareness lessons for children on
a continuing basis since fiscal 2014 to build a society resilient to disasters. The lessons have been
provided not just in the Tohoku region but also at other locations in and outside Japan to more than
18,000 children at 310 schools as of April 2022 (Photo 1). The initiative also represents one of the
major social collaboration activities undertaken by Tohoku University.
The lessons translate the knowledge cultivated through disaster science research of IRIDeS into
educational materials that describe disaster risk from a scientific viewpoint, yet in a manner easily
comprehensible by children. An original group work tool incorporating elements of brain science andcognitive psychology, “Disaster Prevention and Mitigation Stamp Rally (stamp collecting game),” hasalso been developed and is used as a teaching aid.

Photo 3: Students playing “Awatara (Our Timeline)”

In keeping pace with digitalization in schools, we have introduced an online means to update
our conventional style of providing in-person lessons at schools (Photo 2). Online lessons require
voluntary involvement of homeroom teachers, thus providing opportunities for teachers themselvesto learn about disaster prevention. In addition to a disaster prevention comprehension quiz, we also
provide counseling to teachers about disaster prevention, thereby helping to promote educationon this topic at schools. As one online program, we have also developed a digital game, “Awatara(Our Timeline),” for junior high school students to think about disaster prevention in their respective
communities and are putting the game into practical use.

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Based on the lessons learned from the Great East Japan Earthquake, employee volunteers, including

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■Supporting the Formulation of Business Continuity Plans (BCP) for Regional Municipal
Bodiesagents, have been conducting Disaster Prevention Lessons since 2012 to convey knowledge on• BCP Program and Seminar on Formulation of Plans for Strengthening Business Continuity

disaster prevention to children and help them prepare for the next disaster. Disaster Prevention

Capability* in Collaboration with Local Governments, Chambers of Commerce and Other

Lessons (“Earthquake and Tsunami” edition) are a program to raise readiness for disaster prevention

Organizations

among elementary school children. Employee volunteers from Tokio Marine dR developed

Tokio Marine & Nichido offers a program to assist in the formulation of business continuity plans

educational materials, which were then supervised by IRIDeS at Tohoku University. In the lessons,(BCP) and a seminar on the formulation of plans for strengthening business continuity capability*

children learn about the mechanisms that cause earthquakes and tsunamis, what to do when an

for small and medium-sized companies. Sales personnel from the company’s branches nationwide

earthquake occurs and what preparations should be made in advance.

serve as lecturers and offer the program and seminar in collaboration with our partners, including
respective local governments, chambers of commerce, commerce and industry associations andIn fiscal 2020, we rolled out Disaster Prevention Lessons (“Water and Landslide Disasters” edition), a
new program that has been supervised by IRIDeS at Tohoku University and the Disaster Prevention
Research Institute at Kyoto University. This is a program for children to learn about the mechanism
behind heavy rains, how to cultivate a mental attitude to take action and start evacuating and points
to be noted when staying at an evacuation shelter. The aim of our Disaster Prevention Lessons is tofinancial institutions.
*System to certify plans for strengthening business continuity capability
A system in which the Minister of Economy, Trade and Industry assesses plans for pre-disaster measures for disaster prevention
and mitigation formulated by small and medium-sized companies and certifies them as plans for strengthening business
continuity capability. Certified companies will receive a tax break, financial support and support in the form of additional
points in the screening for a subsidy.

cultivate a correct understanding of earthquakes and water disasters among children and the ability
to prepare themselves for an impending disaster.
• Booklet “Rethink Now! Earthquake in the Foreseeable Future and Preparation for It” and “Easy,
As of March 31, 2023, Disaster Prevention Lessons have been held 1,195 times at elementary schools

Understandable BCP Planning Sheet”

and special needs schools across Japan, with some 77,000 children attending. We will continue to

We have developed “Rethink Now! Earthquake in the Foreseeable Future and Preparation for It,”promote the creation of a safe, secure and resilient society and future by engaging in awareness andan awareness-raising booklet designed to renew our understanding of the basics of earthquake

educational activities for disaster readiness through our Disaster Prevention Lessons.

risk in Japan, and “Easy, Understandable BCP Planning Sheet,” a tool for small and medium-sizedcompanies to grasp an overall picture of a BCP in one sheet and make their first step in formulating
their own BCPs. The booklet and planning sheet cover not just earthquakes but also other disasters,
including water disasters now occurring more frequently, as well as COVID-19 and other infectious
diseases. These tools are also intended to enable companies to raise the level of their own BCPs aswell as their entire supply chain’s BCPs and to make these BCPs more viable by disseminating andinstilling the idea of BCP among their employees. Through our employees and agents, we distributethese combined tools to companies, local governments, chambers of commerce and commerce andindustry associations.

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■Website

5.6.4 M ulti-Stakeholder Dialogue

Readiness and Mitigation Information Website

Tokio Marine Group participates in discussions on climate change, natural disaster risks and climate-

Since March 2013, Tokio Marine & Nichido has been operating the “For Tomorrow’s Smiles: Disaster

related disclosures and proactively engages in multi-stakeholder dialogue aimed at reducing andReadiness and Mitigation Information Website” with the aim of contributing to the creation of a

mitigating the risks placed on economic and social life or encouraging measures against climate

secure, safe and sustainable society and providing an opportunity for people to think about disasterchange.

• Creating a Society with High Disaster Consciousness – For Tomorrow’s Smiles: Disasterreadiness and mitigation.
• Roundtable on Public-Private Collaboration for Pandemic Risk Transfer Hosted
This site has been supervised by the endowed research division named the Earthquake-inducedby APEC Business Advisory Council (ABAC) Philippines

Tsunami Risk Evaluation Field established within IRIDeS at Tohoku University, with which Tokio Marine

Tokio Marine & Nichido participated as a panelist in an online roundtable hosted by ABAC Philippines& Nichido has entered into a collaborative agreement. It uses illustrations, comics and games toon April 20, 2022. The purpose of the event was to explore ways of public-private collaboration inoffer easily understood explanations of the mechanisms behind “earthquakes, tsunamis, volcanoes,

preparation for the next pandemic following COVID-19, and the company shared its perception of

typhoons, tornadoes, torrential downpours and heavy snowfalls, as well as infectious diseases,” alongissues as a non-life insurance company.

with such other topics on how we should prepare ourselves for and respond to disasters. Other
information to help promote disaster awareness includes a simple and useful tool to calculate the• TCFD Summit

necessary amount of emergency food to be stockpiled at home.

On October 5, 2022, the fourth TCFD Summit hosted by Japan’s Ministry of Economy, Trade and

For Tomorrow’s Smiles: Disaster Readiness and Mitigation Information Website (in Japanese)

Industry was held online (a hybrid of live streaming and video distribution). Tokio Marine Holdings
served as a moderator in a panel discussion entitled “Responding to the Global Trend of Constructing
Disclosure Rules and Assessing Opportunities.” The session reviewed the significance of the processfrom the publication in 2021 of the revisions to the TCFD’s recommended disclosure metrics andtargets to the publication of proposed sustainability-related disclosure standards by the International
Sustainability Standards Board (ISSB). At the same time, a discussion was held on what measures
should be taken to raise investors’ attention to metrics, including a company’s contribution to CO 2
reductions, from the perspective of facilitating disclosure of business opportunities.
• Public Symposium for Promoting the Use of Climate Change Risk Information Hosted
by the National Institute for Environmental Studies (NIES)
The Public Symposium for Promoting the Use of Climate Change Risk Information hosted by NIES
was held on October 11, 2022, and Tokio Marine Holdings gave a keynote speech on “Global Trend in
Climate-Related Disclosure and Physical Risks.” During the symposium, the need for climate change
risk information was shared between government agencies and corporate parties forecasting climatechange and its impact and providing support for TCFD-based disclosures and other consulting
services. They exchanged views on the enhancement of an information infrastructure to provide

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information based on the said need and the appropriate use of information on climate change-

promotion of TCFD-based disclosures through the TCFD Consortium as a policy pillar toward therelated risks and opportunities.

transition to decarbonization.

• Promoting Green/Transition Finance in the Asia-Pacific Region• United Nations Environment Programme Finance Initiative (UNEP FI) Roundtable Asia Pacific

A hybrid seminar entitled “Promoting Green Recovery through Regional Cooperation in the Asia-

The UNEP FI Regional Roundtable Asia Pacific was held in person on May 24 and 25, 2023, in Seoul,

Pacific” hosted by the Chinese Taipei Pacific Economic Cooperation Committee (CTPECC) was held on

South Korea. Tokio Marine Holdings participated in a panel discussion on decarbonization in the

October 21, 2022. Tokio Marine Holdings gave a lecture, “Implementing the TCFD Recommendations

Asia-Pacific region and emphasized that in order to support the decarbonization of the entire society

toward Promoting Green/Transition Finance – A Report from Japan,” to present Japan’s efforts, which

as a financial/insurance sector, we should try to provide solutions that take into consideration theposition the promotion of TCFD-based disclosures as one pillar of the country’s green transformation

situations facing each company/local government while fully understanding the decarbonization(GX) strategy and utilize such disclosures in promoting transition finance.

pathway that may differ in each country and region.

• The Japanese Society of Insurance Science (JSIS)• World BOSAI Forum 2023

On November 5, 2022, the first day of the annual meeting of JSIS, an in-person symposium entitled

On March 11, 2023, the World BOSAI Forum 2023 was held in Sendai City, Miyagi Prefecture. It“Significance and Issues of Insurance toward Resolving Social Issues” was held at the International

included an interim assessment of the Sendai Framework for Disaster Risk Reduction, which was

Conference Center of Waseda University. During the symposium, Tokio Marine Holdings provided

agreed upon in 2015. Jointly with Tohoku University, Tokio Marine & Nichido participated in a panel

a keynote lecture on the theme of “Significance of Insurance for Building a Resilient Society

discussion entitled “Towards International and Multidisciplinary Collaboration for a Resilient Society”– Implications of International Discussion.” The symposium included a panel discussion withto provide a presentation on various initiatives related to disaster resilience.

participants from the non-life, life and mutual insurance industries and JSIS as well as a Q&A session
with the audience. Constructive opinions were exchanged on the roles insurance could play inachieving the Sustainable Development Goals (SDGs).
• The Japanese Association of Risk, Insurance and Pensions (JARIP)
During the forum on “Climate Change Risk Analysis, Evaluation and Response” hosted by JARIP and
held in a hybrid manner on March 18, 2023, Tokio Marine Holdings reported the current status ofclimate-related risk disclosure, mainly discussions at the TCFD, along with disclosure examples in andoutside Japan. In a panel discussion, opinions were exchanged about the current status and issues ofrisk analysis and disclosure, mainly climate-related scenario analysis and trends in transition finance.
• Discussion for Promoting Transition Finance in APEC by the Asian Development Bank (ADB)
A hybrid roundtable, which was called for by ADB and co-hosted by ABAC and the Asia-PacificFinancial Forum (APFF) Sustainable Finance Development Network (SFDN), was held on April 13,
2023, on the theme of “Transition Finance Strategies in APEC.” As a member of APFF SFDN, Tokio
Marine & Nichido participated in a panel discussion to present Japan’s efforts, which position the2023 Sustainability Report82Basics

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6 Tokio Marine Group’s Social Initiatives
6.1 Creating Social Value
6.1.1 What We Aim for toward Creating Social Value
We believe that society, in which people live and act, needs to ensure a social environment that gives

employee to demonstrate his or her creative potential. At the same time, we will make proactive efforts

consideration to the safety and health of all people and encourages people to respect each otherfor the entire society, in which we do business, to realize a symbiotic society where everyone respects

and take up a new challenge with a sense of security. Tokio Marine Group will work to implement its

the other’s personality and individuality and supports each other.

Corporate Philosophy of building an open and dynamic corporate culture that enables each and every❶ Respect for Human Rights

resolve related social issues. By doing so, we ultimately aim to achieve the Group’s sustainable

Tokio Marine Group supports and respects the International Bill of Human Rights, the United

growth. In addition, from the perspective of revitalizing regional economies and local commu-

Nations Guiding Principles on Business and Human Rights and other relevant rules, and as annities, we provide support to companies working to improve health and productivity manage-

employer, promotes respect for human rights in the value chain through our business in accor-

ment.

dance with the Tokio Marine Group Human Rights Policy.

❺ Contributing to the Creation of a Safe and Secure Society❷ Promoting Diversity and Inclusion

Tokio Marine Group provides products and services that anticipate changes in the social envi-

Tokio Marine Group promotes diversity and inclusion group-wide, believing that for us toronment or customer needs by utilizing the solutions offered by respective Group companies,

further improve the quality of our products and services worldwide, we must enable all of ourincluding insurance. The Group will contribute to the realization of a society based on good

motivated and talented employees to demonstrate the maximum of their potential regardlesshealth and longevity through activities to raise awareness about cancer in Japan and aroundof gender, age, nationality, race, disability, sexual orientation, gender identity or any other at-

the world, activities to spread knowledge about nursing care and offering advice throughtributes.

medical professionals. We also aim to include everyone both socially and economically, irre-❸ Promoting the Development and Empowerment of Human Resources

spective of age, gender or disability. To this end, employees around the world are proactively

Based on Tokio Marine Group’s philosophy on human resources, “Tokio Marine Group – Ourworking on activities that nurture future generations and support the elderly, the deaf andPeople,” we are working on the strategic development of diverse human resources, both in Ja-

blind, persons with disabilities, athletes and expectant mothers in conjunction with NGOs.

pan and overseas, toward the realization of a global insurance group.

❻ Improving Quality from the Customer’s Perspective❹ Promoting Health and Productivity Management and Improving Occupational Safety

Aiming to become “a company that delivers sustainable growth by providing safety and securi-and Health Standards

ty to customers and by always remaining their first choice,” Tokio Marine Group takes feedback

Tokio Marine Group regards employees as one of our most valuable assets and their health asfrom customers seriously and works to improve the operational quality on a constant basis.

a critical management issue. We seek to ensure the physical and mental health of employees

We strive to build trust-based partnerships with agents and improve our operational quality

so that they can work enthusiastically with higher levels of satisfaction and motivation, sup-together in order to truly provide safety and security for customers.

port the health promotion of customers, local communities and society as a whole and help to2023 Sustainability Report83Basics

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6.1.2 Initiatives for Creating Social Value◉Domains of Initiatives
Tokio Marine Group will promote its social
initiatives in six domains, namely respectfor human rights, promoting diversity andrt fo tsec righps
Re manhu

inclusion, promoting the development andactive roles of human resources, promoting
health and productivity management anddivProme
inc rsit otin
lus y an gion da safe and secure society, and improving
quality from the customer’s perspective.

Improving
quality fromthe customer’s
perspective

standards, contributing to the creation of

Tokio Marine Group’s

SocialInitiatives

Co
th ntrie c buse a sa reat tingcu fe ion tore an oso d fcietyPromoting thedevelopment andempowerment of
human resources

improving occupational safety and health

nd
ha
l
alt
hetivity andionagt
in c n at
otrodueme cup alth
m
e
c
g
o
Pr pana ng o nd hrds
m rovi ty a nda
p fe ta
im sa sPromoting thedevelopment andempowerment of
human resources

We are working on the strategic development of diverse human resources, both in Japan andoverseas, by proactively accelerating investment in people. The Group’s overall human resources
development and utilization are managed by the Group Chief Human Resources Officer (CHRO),
while the Board of Directors and Management Meeting of each Group company monitor theindividual implementation status.
• Enhance employee satisfaction and motivation through human resources development with afocus on dialogue• Provide continuous support for the growth of each employee based on the human resources
development cycle• Promote the global human resources strategy• Promote work style reform to enable diverse employees to work with high productivity andachieve growth

Promoting healthand productivity
management
and improving
occupational safety
and health standards

Tokio Marine Group has been making efforts to create an environment in which employees canwork with enthusiasm by providing both physical and mental healthcare for its employees. In
addition, from the perspective of revitalizing regional economies and local communities, we
support companies working to improve health and productivity management.
• Promote health measures, such as the “Get Healthier” initiative and health support for women,
and create a comfortable workplace environment• Rotate the PDCA cycle for evaluation and improvement of initiatives related to health andproductivity management• Provide support for customers’ health and productivity management

Contributing to
the creationof a safe andsecure society

Tokio Marine Group provides products and services that anticipate changes in the social
environment or customer needs in relation to medical treatment, household budget, longevity
and health by utilizing the solutions offered by respective Group companies, including insurance.
We also undertake a range of social contribution and awareness-raising activities.
• Conduct activities to raise awareness of cancer and other diseases across the world, includingJapan• Respond to poverty issues by such efforts as selling microinsurance in farming communities in
India• Continue support activities for the recovery of areas affected by the Great East Japan Earthquake• Engage in social contribution activities for the elderly and awareness-raising and educational
activities for dementia on a volunteer basis

Improving quality
fromthe customer’s
perspective

Tokio Marine Group establishes basic policies for the protection of customers’ interests anddevelops a system to thoroughly promote being customer-oriented and to pursue various aspects
including customer protection. In addition, in accordance with the Tokio Marine Group Policy forManagement of Conflicts of Interest and through compliance with these policies by directors,
officers and employees, Tokio Marine Group works to manage transactions involving conflicts ofinterest to ensure that clients’ interests are not unduly harmed.
• Formulate and announce the customer-oriented business conduct policies and promote efforts
under these policies• Develop a structure to utilize customer feedback for improving products and services◉Overview of Key Initiatives in Each Domain

Respect forhuman rights

Tokio Marine Group fully understands international action principles and guidelines concerning
human rights and participates in and contributes to initiatives concerning social responsibility,and by doing so, fulfills its role toward realizing a sustainable society.
• Promote initiatives in accordance with the Tokio Marine Group Human Rights Policy• Comply with the Tokio Marine Group Code of Conduct• Conduct human rights risk assessment• Respond to the Modern Slavery Act of the United Kingdom and Australia

Promotingdiversityand inclusion

The group-wide promotion of diversity and inclusion (D&I) includes eliminating the gender gap,
creating a workplace in which older employees and persons with disabilities can take activeroles as well as promoting employment regardless of nationality or race, facilitating mid-career
recruitment and training of employees with diverse experience and promoting employment of
persons with disabilities.
• Set up a structure to promote D&I, including establishment of the Diversity Council, andcultivate an appropriate corporate culture• Accelerate efforts to create an environment that enables female employees to take up a newchallenge based on their willingness and capabilities• Promote active roles and employment of diverse human resources, including older people andpersons with disabilities

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6.1.3 Targets for Creating Social Value
Respect for human rights
Promote initiatives
based onthe Group’s
policy concerning
human rights

Rotate PDCA
cycle with regard
to respect forhuman rights

Promoting diversity and inclusion
Increase the ratioof female directors
and Audit &Supervisory Board
members to 30%
in fiscal 2027

Promotehuman rights
due diligencert fo tsec righps
Re manhu

Rotate PDCA
cycle forimprovement
responding tocustomer feedback

Utilize customer
feedback for
improvingproducts andservices

Contributing to the creation of a safe and secure society
Provideproducts andservices
matching
customer needs

Providemicroinsurance

Attain 100%+
employeeparticipation rate
in social
contribution
activities

Tokio Marine Group’s

SocialInitiatives

Co
th ntrie c buse a sa reat tingcu fe ion tore an oso d fcie
ty(Tokio Marine & Nichido)

Promote employmentof persons
with disabilities:
Attain legally
mandated
employment rate,etc.

Promoting the development and empowerment of human resources
Promoting thedevelopment andempowerment of
human resources

Thoroughly
promotecustomeroriented
operations

Improving
quality fromthe customer’s
perspective

Improving quality from the customer’s perspective

divProme
inc rsit otin
lus y an gion dIncrease theratio of womenin management
and higher-level
positions to 30%
in fiscal 2030

nd
ha
l
alt
hetivity andionagt
in c n at
otrodueme cup alth
m
e
c
g
o
Pr pana ng o nd hrds
m rovi ty a nda
p fe ta
im sa sRaise employee
satisfaction levels:
Continue to
conduct
our culture
and value survey

Achieve 100%executionof working
practices*1
related toworking hours

Support work /childcare balance:
Maintain Kurumin
certification(Tokio Marine & Nichido)

Promoting health and productivity management andimproving occupational safety and health standards

Achieve healthrelated targets*2

Continue to be
selected as“Health &Productivity Stock”(Being selected for eight
consecutive years)

Provide andenhancehealth andproductivity
management
solutions*1 Go Go Challenge Day (employees finish work at 5:30 p.m. or within 7.5 hours of actual working once per week) and Season
Challenge (all lights off and employees finish work at 8:00 p.m. for one month four times a year)*2 Individuals’ health (improving presenteeism and work engagement) and organizational health (improving organization’s
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6.2 Respect for Human Rights

Amid the rapid changes in the external environment, it is not possible to complete a system for6.2.1 Basic Approach to and Policy on Human Rights

we strongly believe that the management team should attentively listen to the voices of rightsholders

Tokio Marine Group has considered “protecting customers and society in times of need” to be

Each employee should also be more sensitive of human rights and, in cooperation with businessits purpose since its founding. The insurance business has been called a “people’s business,” andpartners, promote responsible procurement initiatives. Sharing a strong commitment to upholding

everything about insurance comes from the trust created by people. As we continue with ourhuman rights, we will continue these initiatives step by step. This should enable us to earn the trust

business, we must earn the trust of customers, employees and local residents and respect the humanof customers, local communities (residents), the employees of different organizations and otherrights of all people.

stakeholders.

As an insurance company, we are connected with customers, stakeholders, and other rightsholders■ Tokio Marine Group’s Business Activities and Their Impact on Human Rightsfrom a broad range of industries. Our impact on society is not minor. Every employee who comes into

Tokio Marine Group’s business activities (business domains) can be classified into three domains,contact with customers and society must remain aware of the importance of respecting human rights

namely “insurance underwriting, investments and financing,” “value chain” and “Direct operations.”

and put this into action. To this end, Tokio Marine Group formulated the Tokio Marine Group Basic

The table below shows the rightsholders, human rights issues (e.g., negative impacts on human

Policy on Human Rights and the Responsible Procurement Guidelines based on related principles

rights) and our response regarding the issues in each of these business activities (domains).

respecting human rights in our business activities and extensive value chain overnight. Nevertheless,and other stakeholders and continue to discuss the approaches and processes needed to do so.

such as the Universal Declaration of Human Rights, OECD Guidelines for Multinational Enterprises,
ILO International Labour Standards, UN Guiding Principles on Business and Human Rights and UN
Global Compact.
With the mission of providing customers and local communities with safety and security andBusiness domain

Rightsholder

Human rights issue

Our Response

Customers, insured persons,
Insurance underwritvictims, Employees of compaing, and investments,
nies we have invested
and financing
in/financed Local residents

Privacy rights (leakage of personal
information, infringement ofprivacy)
Negative impact on the community

Privacy Policy, Policy toAddress Environmental andSocial Risks

Value chain

Insurance agencies,
outsourcing contractors
and employees of suppliersWorkers’ rights (regarding discrimination, harassment, long working
hours, etc.)
Treatment of immigrant/foreign
workers
Prevention of harassment

Responsible Procurement
Guidelines

Direct operations

Directors, officers, employees and staffs within theGroup

Workers’ rights (regarding
discrimination and harassment)

Promotion of diversity andinclusion

protecting them against risks, we need to understand how our business activities are directly or
indirectly connected to human rights and how they can impact human rights. Accordingly, we
provide education to employees of Group companies and increase their awareness. In fiscal 2022,
we formulated a human rights risk map to assess our impact on human rights in Japan, clarified
the area that should be prioritized and urgently addressed, conducted a study on those areas andimplemented concrete measures.
If there is a possibility that human rights will be negatively affected, we implement measures toprevent it. When a human rights issue occurs, which should not happen in the first place, we have asystem in place to ensure that the problem is reported by the workplace to top management so thatit can be addressed immediately.

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Tokio Marine Group’s main business activity is providing customers and society with safety and■ Human Rights-Related Policy

security through insurance underwriting. The table below shows issues relating to rightsholders andIn implementing our Corporate Philosophy, we have formulated the Tokio Marine Group Sustainability

human rights (e.g., a negative impact on human rights) in the flow of insurance operations.

Charter as principles of conduct required from the perspective of social responsibility, and strive torespect human rights for all people, including customers, shareholders/investors, insurance agents,
business partners, employees, local communities/society and future generations. The insurance

Flow of insurance operations= Rightsholder

Recommend
insurance
products

Contract
procedures

Offer
insurance
products

business, which forms the core of Tokio Marine Group’s business, has been called a “people’s business,”= Our action
Occurrence ofan accident

Identify
customers’
needs= Human rights issue

Report theaccident
Investigate
damageand respect for human rights forms the basis for its sustainable growth.
Payinsurance
claims

Proposerecurrence
prevention
measures

Tokio Marine Holdings endorses and respects the Universal Declaration of Human Rights, OECD
Guidelines for Multinational Enterprises, ILO Core Labour Standards, UN Guiding Principles on
Business and Human Rights and ISO 26000, and has signed the United Nations Global Compact. Tokio

Respect for human rights through the provision of products and services

Marine Group fully understands international action principles and guidelines concerning human

Customers, insurees, victims and local residents

rights and participates in and contributes to initiatives concerning social responsibility, and by doing

Discriminatory expressions in the development
and advertising of products and services

Appropriate response to claims service

so, fulfills its role toward realizing a sustainable society.

Leakage of personal data and privacy infringement

Tokio Marine Group Sustainability Charter (excerpt)
Respect for human rights in the value chain
Employees of insurance agencies, outsourcing contractors and suppliersLong working hours and harassment of employees

Prevention of long working hours and harassment and promotion of D&I
Directors, officers and employees within the GroupLong working hours and harassment of employees

Tokio Marine Group is committed to fulfilling its corporate social responsibility (CSR) by
implementing its Corporate Philosophy to achieve sustainable growth together with thedevelopment of society in accordance with the following principles:
Respect for Human Rights and Dignity• We respect and actively promote the recognition of human rights for all people.
• We strive to ensure an energetic working environment that is both safe and healthy and topromote training and education of our employees.
•W e respect the right to privacy and strive to enforce this right through the management of
personal information.

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regulations relating to fair and honest transactions and respect for human rights and labor, contribute to

As our Corporate Philosophy states, with customer trust as the foundation for all its activities, Tokio Marine

the protection of the global environment, ensure thorough information security, develop a management

Group (the “Group”) continually strives to raise corporate value. The foundation for implementing thissystem and disclose information.

Corporate Philosophy is respect for the human rights of all people, such as customers, society (including
business partners and civil society organizations), employees, shareholders and investors, and future
generations, and we are committed to respecting human rights across all of our business activities. The• Tokio Marine Group Compliance Code of Conduct

Tokio Marine Group defines its Corporate Philosophy as perpetually enhancing its corporate value based

Tokio Marine Group Basic Policy on Human Rights (the “Policy”) is based on the Corporate Philosophy

on customers’ trust, and to carry out all its business activities in pursuit of being a “Good Company”

and Code of Conduct and outlines our approach to respecting human rights throughout our businesstrusted by all people and the society. The Tokio Marine Group Compliance Code of Conduct summarizes

activities, including our entire value chain.

specific actions for realizing the Corporate Philosophy and being a “Good Company” from a compliance
perspective, which must precede everything else in all of Tokio Marine Group’s business activities.

Each officer and employee (including temporary staff ) of Tokio Marine Group's companies is expectedto act in line with this Policy to ensure that our business activities comply with the Group human rights

In line with the Code of Conduct, the directors, officers and employees of Tokio Marine Group companies

commitment.

(including temporary employees) must ensure the fairness of their business activities by observing
applicable laws and regulations and internal rules, conducting fair and equitable business activities within

We also expect our business partners to support and practice the principles expressed in this Policy andsocial norms and correctly understanding and rigorously obeying rules relating to business activities.

aim to work together toward the promotion of respect for human rights.
* The policy is in accordance with UN Guiding Principles on Business and Human Rights and was approved at Tokio Marine
Holdings’ Board of Directors meeting in December 2021.

• Policy to Address Environmental and Social Risks

Tokio Marine Group will strive to appropriately identify and manage risks that have a negative impact on
the environment and society in accordance with the Group’s Basic Policy on Environment and Basic Policyon Human Rights. As an initiative to encourage insurance customers and investees to respect humanrights, in December 2021, we formulated the Policy to Address Environmental and Social Risks to evaluate
the prevention and mitigation of human rights risks in specific sectors. Tokio Marine Group will work

6.2.2 S tructure to Promote Human Rights
Within Tokio Marine Group, actions to address sustainability issues, including human rights risks
and other human rights-related issues, are discussed by the Sustainability Committee and theManagement Meeting. Decisions are made before plans and progress are reported to the Board of
Directors. The process is operated leveraging a governance structure led by related executive bodies

together with its insurance customers and investees in promoting initaitives to respect human rights.

under the guidance and supervision of the Board of Directors.

• Responsible Procurement Guidelines■Sustainability Committee

In March 2023, Tokio Marine Group established the Responsible Procurement Guidelines as a code of

To address sustainability issues, including human rights, the Sustainability Committee, which is

conduct for promoting responsible procurement and procurement practices throughout its value chain,composed of the Group CEO, the Group Chief Human Resources Officer (CHRO), the Group Diversity

realizing a safe, secure and sustainable society and pursuing sustainable growth in cooperation with its& Inclusion Officer (CDIO), the Group Chief Sustainability Officer (CSUO) and other members, discussbusiness partners. Tokio Marine Group promotes responsible procurement and procurement practices,

topics such as the formulation of strategies and targets as well as the coordination and promotion ofincluding respect for human rights, throughout the value chain by making the guidelines known to all

initiatives.

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The Sustainability Committee met four times in fiscal 2022, discussed efforts to respect humanrights and decided on the direction of initiatives. For a detailed explanation of its promotional andsupervisory structure, see Organizational Structure for Promoting Sustainability on page 12 of thisreport.

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6.2.3 R aising Awareness and Penetrating Respectfor Human Rights
Tokio Marine Group is engaged in many various initiatives to raise awareness and penetrate respect[Reported and discussed items at the FY2022 Sustainability Committee]
April 2022

Fiscal 2022 annual plan for initiatives to respect human rights

August 2022

Human rights due diligence action plan

November 2022

Activities for human rights due diligence in the second half of fiscal 2022

February 2023

Review of activities in the second half of the fiscal year

■ Human Rights Subcommittee
To examine human rights issues, we have established the Human Rights Subcommittee, subordinate
to the Sustainability Committee. The subcommittee consists of permanent members from the Human
Resources Department, the Legal & Compliance Department and the Corporate Planning Departmentof Tokio Marine Holdings. Advised by human rights specialists, the subcommittee discusses initiatives
to respect human rights and how to apply them throughout the Group.

for human rights across the Group to deepen employees’ understanding of human rights risks andissues and promote initiatives to respect human rights.
■ Respect for Human Rights within the GroupAt each Group company, all employees and other co-workers are working to build a vibrant corporate
culture without discrimination or harassment.
At Tokio Marine & Nichido, we formulate the Basic Policies and Measures Related to Human Rights
at the beginning of each fiscal year, and under the human rights awareness promotion structure,provide support to all local for their relevant initiatives made in relation with operations that involve
human rights and inspect the status of their initiatives at the end of the fiscal year. We go throughthe plan-do-check-act (PDCA) cycle on a constant basis to survey the status, identify issues and take
improvement measures.

In fiscal 2022, the Human Rights Subcommittee met about once a month. Initiatives included theformulation of the Responsible Procurement Guidelines, the implementation of human rights due
diligence initiatives, planning for initiatives to respect human rights in a way unique to Tokio Marine

Principal Initiatives

Group, and the review of progress and changes to these initiatives when necessary.

•C onducting human rights awareness training (to be attended by all employees) and
execution of daily business operations with an awareness of human rights■Compensation for Directors, Audit & Supervisory Board Members and Executive Officers•A chievement of diversity and inclusion (achievement of normalization within the Group andpromotion of employment and retention of persons with disabilities)•P revention of, education on and appropriate response to various types of harassment andAt Tokio Marine Group, non-financial indicators regarding the main issues of the sustainability
strategy, including the promotion and penetration of D&I initiatives, have been incorporated into
the performance-linked compensation for directors and executive officers since fiscal 2022. The
Sustainability Committee reviews the progress of initiatives to reach goals, which is presented as anfair hiring selection practices• Initiatives to raise human rights awareness of agentsindex, before the Compensation Committee deliberates on compensation and makes final decisions.

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Details

Human Rights Awareness Promotion Structure (Tokio Marine & Nichido)

Human Rights Awareness All-Branch Promotion Headquarters

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

• Human Rights Awareness Training
Every year, each member company of Tokio Marine Group holds human rights training in the workplaceand e-learning training, in which all employees and other co-workers attend to practice the Basic Policyon Human Rights and build a vibrant corporate culture without discrimination or harassment. Training is

All branch promotion chairperson: President

based on themes that reflect social issues and employees learn about a wide range of areas, which include
acquiring knowledge concerning a number of human rights issues in Japan, including discrimination

All branch promotion vice chairperson: Director in charge of Human Resources Department
Head Office Secretariat: Human Rights
Awareness and Diversity Promotion Division

against people belonging to minority communities, normalization, LGBTQ+ and harassment issues as well
as issues regarding foreign residents and the Sustainable Development Goals (SDGs).
Tokio Marine & Nichido has established a promotion structure mainly comprising the Human Rights
Awareness Promotion Headquarters and the Human Rights Awareness Promotion Committee membersof each branch office. Aside from the annual human rights awareness training held in the workplace,the company also holds rank-based training, such as executive seminars. In addition to employees, the

Human Rights AwarenessCommittee member of branch office

Human Rights AwarenessCommittee member of branch office

Human Rights AwarenessCommittee member of branch officecompany provides various training tools to agents to support their human rights awareness training.

・Promotion chairperson
・Promotion vice chairperson
・Promotion committee member

・Promotion chairperson
・Promotion vice chairperson
・Promotion committee member

・Promotion chairperson
・Promotion vice chairperson
・Promotion committee member•F ostering a Culture to Respect Human Rights by Soliciting and Awarding Human Rights-Related

Sustainability Performance Data (Human rights training participation rate, etc.)

Slogans
During Human Rights Week, which takes place from December 4 to 10 every year, each Group company
solicits human rights-related slogans from employees and their families. The aim is to facilitate an■Process to Monitor the Promotion of Human Rights Awareness (Tokio Marine & Nichido)

understanding of the importance of respecting human rights and raise human rights awareness in the❶ Establish and thoroughly implement policies for promoting human rights awareness.

workplace, at home and within local communities. We select excellent slogans and disseminate them❷ Develop an organizational structure to promote human rights awareness with the president as thethrough our in-house intranet, Group newsletters and posters to be put up in each workplace as an effort

responsible person.

to instill and spread the awareness of respecting human rights.

❸ Implement human rights awareness training for all directors, officers and employees at least once ayear.
❹ Formulate and thoroughly implement policies aimed at implementing fair recruitment selection• Keeping the Human Rights Perspective in Daily Business Operations and Thoroughly Ensuring
Prevention of Discriminatory Practices

practices and establish the Human Rights Awareness Committee for Fair Selection and Recruitment.

Tokio Marine & Nichido has in place a document inspection system to check for any expression❺ Promote normalization (increasing employment of persons with disabilities and improving their(including illustrations, photos and videos) or wording undesirable from the perspective of human

workplace environment in terms of both “software” and “hardware”).
❻ Establish rules for the prevention of harassment in the workplace and set up an in-house consultation

desk.
❼ Request and support agents’ voluntary efforts to raise human rights awareness.

rights in its advertisements and insurance soliciting documents for customers as well as in its daily
business operations. The system also performs a check to make sure the company does not obtain
unnecessary personal information. Moreover, the company has established a system to appropriately
report and respond by prescribing rules for handling cases of discrimination events that are discovered or
encountered and making these known internally.
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■Hotline (for Internal Whistle Blowing)

From the perspective of social responsibility, Tokio Marine & Nichido shares its Principle of Transactions

See Hotline System (Internal Whistle Blower System) on page 163 for information on actions to address

with business partners (suppliers and subcontractors) and requests a commitment to compliance withreal or possible compliance violations. See page 145 for information on the point of contact for customers.

laws, regulations and social norms, the promotion of fair and honest transactions, thorough information
management and consideration of the environment, including domains related to respect for humanThe hotline is a contact point set up to receive reports from those who work for the Group (including thoserights.

who have retired within one year). However, even if we receives reports of labor compliance violations(including possible violations) from other business partners with whom the Group has cooperative
relationships based on contracts, we also respond to them in line with the above procedures.

6.2.4 H uman Rights Due Diligence
Tokio Marine Group has established a system to ensure human rights due diligence (HRDD) based on■Education Relating to Legal Affairs and Compliance

the UN Guiding Principles on Business and Human Rights.

In fiscal 2022, managers of legal and compliance divisions of major overseas Tokio Marine Group
companies convened for the Global Legal & Compliance Conference. To add to the attendees’ knowledge,

For Tokio Marine Group, HRDD means an ongoing, preventive and voluntary process to become aoutside specialists were invited to give lectures on topics such as international trends in regulations“Good Company” and to avoid or mitigate any negative impact of corporate activities on humanrelating to human rights and the UN Guiding Principles on Business and Human Rights.

rights. Based on this process, Tokio Marine Group conducted a human rights risk assessment in fiscal
2017 with the assistance of the specified NPO Caux Round Table Japan (CRT Japan), and again in■ Sustainability Training

2022, with the assistance of outside experts and specialists. Going forward, we plan to update theEvery year, Tokio Marine Holdings, Tokio Marine & Nichido and other major Group companies provide

assessment on a periodic basis while considering the impacts of significant changes to our businessall employees, dispatched employees, contractors’ employees and others with sustainability training

operations.

in different forms, including e-learning programs. The training program seeks to facilitate a deeper
understanding and penetration of human rights issues among employees and encourage the

The assessments were conducted on Group companies in and outside Japan, and we identified

independent resolution of human rights issues by learning about the UN Guiding Principles on Businesspotential human rights risks against our major rightsholders, which we need to tackle in order toand Human Rights, trends in human rights due diligence in and outside Japan, the Basic Policy on Human

prevent risks from occurring. For details, please refer to the results of the human rights risk mapping

Rights, the Policy to Address Environmental and Social Risks and the Responsible Procurement Guidelines.

conducted in 2022.

■ Disseminating Responsible Procurement Guidelines

Tokio Marine Group also ensures that ESG is taken into consideration in the context of mergers and

In March 2023, Tokio Marine Group formulated and published its Responsible Procurement Guidelines

acquisitions (M&As). In reviewing opportunities for acquisition, for example, our M&A transaction

and has been working to ensure the employees of Group companies and business partners are wellmanual lists target company’s ESG policies, such as those relating to “Environment”, “Social” (including

aware of the guidelines. Information about the guidelines is published on the websites of Tokio Marine

human rights) and “Governance”, as one of the key factors to evaluate. How they are implemented

Holdings and major Group companies. At the same time, we are committed to making the guidelines

and how much attention is paid within such company will be important evaluation points as well.

disseminated to the employees of the Group companies and our major business partners and requestingthat international norms relating to human rights and labor are respected and laws and regulations are■Structure for the Management of HRDD

obeyed.

Tokio Marine Group’s Human Rights Subcommittee stays up to date on the progress of its HRDD
initiatives.

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Initiatives■Human Rights Risk Map — Identifying and Evaluating Human Rights Risks

SocialInitiatives• Aim of Identifying Human Rights Risks
Marine Group Sustainability Charter” as our code of conduct to fulfill our social responsibility.
This outlines our commitment to respecting the human rights of all people including customers,
shareholders & investors, agents & business partners, employees, local communities & society andand are committed to respecting human rights as an employer, through our main business operations

Sustainability
Performance Data

• Process*1

In putting our Corporate Philosophy into practice, Tokio Marine Holdings has established the “Tokio

future generations. We have also established the “Tokio Marine Group Basic Policy on Human Rights,”

GovernanceInitiatives

Step 1:
Determining the scopeand in our value chain.
Tokio Marine Holdings supports and respects the Universal Declaration of Human Rights, OECD
Guidelines for Multinational Enterprises, ILO’s International Labour Standards, UN Guiding Principles
on Business and Human Rights, ISO 26000 and SA8000, and is a signatory to the UN Global Compact.

Identify 1) major areas of Tokio Marine Group’s business; 2) stakeholders and rightsholders inmajor areas of business; and 3) human rights issues expected in relation to internationalguidelines, etc.
(1) Areas of business: Insurance underwriting, investment/financing, value chain, direct
operations
 Stakeholders and rightsholders: Customers, insured persons, victims, employees of
insurance customers and investees, local residents, employees of insurance agents/
outsourcing contractors/suppliers and directors, officers and employees of the Group(2) Human rights issues:
 E
 mployees: Forced labor, human trafficking, child labor, discrimination, inhumane
treatment, freedom of association, collective bargaining rights, working hours, wages,
occupational safety and health, treatment of immigrants/foreign workers and privacyrelated rights Local residents: Health of local residents, land issues, large-scale resettlement of residents
an adequate standard of living, access to water & sanitation, indigenous peoples’ rights
and acts of security personnel that infringe on human rights
Evaluation and identification of human rights issues that are most relevant to our key
rightsholders. In the evaluation and identification process, the following data and methods
were used to evaluate the likelihood and severity of human rights risks.

We understand internationally recognized principles and guidelines related to human rights andhave comprehensively assessed and identified in particular the human rights issues of our businessrelated key stakeholders and rightsholders (negative impacts on human rights and other issues) for

Likelihood*2

fulfilling our role in realizing a sustainable society through participating in and contributing to social

Utilization status of whistleblower system

responsibility-related initiatives and respecting human rights/promoting HRDD.
Step 2:
Evaluation andidentification of salient
human rights issues

Step 3: External review
Step 4: Reporting

Control Self-Assessment (CSA*3) data of overseas

Severity *2✓Group companies✓

Internal interviews and discussions✓

Requests from civil society organizations✓✓

Guidelines published by internationally recognizedorganizations (UNEP FI, British International
Investment)✓✓

Risk evaluation results of insurance industry(including industry peer evaluations)✓✓

Discussions with human rights experts and advisers
Formulation and disclosure of the human rights risk mapping materials*1 Tokio Marine Group conducted a human rights risk assessment with the assistance of CRT Japan in 2017 and outside experts andspecialists in 2022, and plans to update it periodically considering impacts of significant changes to its business operations, etc.
*2 The check mark indicates which data and methods were used to assess the likelihood and severity of human rights risks.
*3 CSA refers to Control Self-Assessment which is conducted annually to overseas Group companies to confirm that business
operations are being conducted appropriately based on the prescribed internal control standards.

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Performance Data

• Human Rights Risk Mapping: Evaluation and Identification Results
Areas of businessInsurance underwriting

Investment and financing

Value chain

Direct operations

Stakeholders

Customers and society

Recipients of investment and financing
and society

Business partners

Employees

Rightsholders

Customers, insureds
Victims and local residents

Employees of investees
andLocal residents

Employees of insurance agents,
outsourcing contractors and suppliers

Directors, officers and employeesof the Group

Right to be free from forced labor and human trafficking

⃝

⃝

⃝

Right to be free from child labor

⃝

⃝

⃝

Right to be free from discrimination and inhumane treatment

⃝

⃝

⃝

⃝

Freedom of association and right to collective bargaining

⃝

⃝

⃝

⃝

Right to fair and just working conditions: working hours and wage

⃝

⃝

⃝

⃝

Right to fair and just working conditions: occupational healthand safety

⃝

⃝

⃝

⃝

Rights of migrants and migrant workers*1

⃝

⃝

⃝

Right to privacy

⃝

⃝

⃝

⃝

Right to health of local residents⃝⃝

Right to property and freedom of
movement⃝⃝

Right to an adequate standard of living⃝⃝

Right to water and sanitation⃝⃝

Rights of indigenous peoples⃝⃝

Rights of people in high-risk situations*3

⃝

⃝

⃝

⃝

Right to effective remedy (reporting system and grievancemechanisms)

⃝

⃝

⃝

⃝

Human
rightsissues

Negative impacts on
the community*2*1 This refers to foreign national workers in non-desk work and those employed for the purpose of engaging in routine work (simple or repetitive work) that does
not require licenses or qualifications related to specialized skills (e.g., foreign national workers engaged in administrative work are not included).
*2 This refers to the negative impact on human rights of local residents caused by negative impacts of business operations on the environment, biodiversity,
occurrence of disasters, etc.
*3 This refers to the risk of involvement in human rights violations caused by operating in specific situations with high risks of human rights violations (e.g., areas
where conflict, political instability and/or corruption are widespread).

● Dots represent the human rights issues identified in each business operation (stakeholder).

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• Human Rights Risk Mapping: Risk Mitigation and Remedy
Areas of businessInsurance underwriting

Investment and financing

Value chain

Direct operations

Stakeholders

Customers and society

Recipients of investment and financing
and society

Business partners

Employees

Rightsholders

Customers, insureds
Victims and local residents

Employees of investees
andLocal residents

Employees of insurance agents,
outsourcing contractors and suppliers

Directors, officers and employeesof the Group

Approach to respecthuman rights

Policies foreach business operation

Sites with mitigation
remediation plans
implemented

Risk mitigation & prevention/
remediation(Examples of specific initiatives)• Tokio Marine Group strives to conduct appropriate human rights due diligence to identify, assess, prevent and mitigate, and account for negative impacts on human rights related to its business operations.
• I n the case that we identify that our business operations have caused or contributed to negative impacts on human rights, we endeavor to mitigate and remediate such impacts through appropriate
processes and by holding dialogue with relevant stakeholders.
• We prohibit discrimination based on unreasonable grounds in the provision of products andservices. We will not only prevent and mitigate negative impacts on human rights, but also promote
the human rights of all customers and contribute to the realization of an inclusive society. We strive
to consider environmental, social and governance issues, including human rights, in our insurance
underwriting and investment decision-making processes.

• We aim to fulfill our social responsibilities
together with our business partners toachieve sustainable development together
and to promote respect for human rights
together.

• We strive to respect human rights by ensuring a
rewarding working environment where each
employee upholds diverse values and working
styles.
•P rohibition of forced labor, human trafficking
and child labor, respecting freedom of
association and the right to collective
bargaining, prohibition of discrimination andharassment, promotion of diversity and inclusion• 68 domestic and international Group companies.
* For TMNF, 189 branches and divisions (as of Mar. 31, 2022)•D omestic Group companies (TMNF'sdomestic subsidiaries)* For TMNF, 189 branches and divisions (as ofMar. 31, 2022)• 68 domestic and international Group companies.
* For TMNF, 189 branches and divisions (as of Mar.
31, 2022)•C onducting dialogues with experts, civil society organizations and other stakeholders to accurately
grasp their expectations and requests to our company and reflecting them in our insurance
underwriting and investment policy and practices to address environmental and social risks•A s a result, for example, based on dialogues with NGOs in the Arctic region, we established our“Policy to Address Environmental and Social Risks ” (established in Dec. 2021), which includes thescreening of potential negative impact on indigenous peoples’ rights and the local community in the
Arctic region. This policy also prohibits the underwriting and investment in inhumane weapons suchas cluster munitions and anti-personnel land mines.
• Supporting global companies in their efforts to reduce human rights risks that may occur in their
supply chains through the provision of insurance products and services•D istribution of “Principle of Transactions”(established in Mar. 2009) to suppliers.
(TMNF)•A s a result of dialogue with suppliers andNGOs, TMNF has refrained from procuringcontroversial paper products, which may
have negative impacts on the environment
and local community and is recommending*1
the purchase of FSC -certified paper andenvironmentally conscious paper products.
(TMNF)•D istribution of human rights training tools toinsurance agents (TMNF)•C onducting human rights training &sustainability training•P roviding reporting channels throughestablishing internal and external hotlines• I mplementing document inspection system toprevent discriminatory practices*1 FSC (Forest Stewardship Council®) certification is a tool that guarantees respect for human rights in addition to environmental considerations in the forestry
and forest product industry. Procurement of FSC-certified products means procurement of products that consider their impact on human rights.

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Based on the results of the comprehensive assessment of human rights risks, Tokio Marine Group■ Progress of Initiatives for HRDD by Area of Business Domains

organized a human rights workshop for employees engaged in practical operations. Featuring advice

Presented below is the progress in human rights DD up to the end of fiscal 2022 by business domain infrom outside experts, the workshop narrowed down human rights risks that should be prioritized from a

consideration of the results of the human rights workshop.

practical perspective.
• Respect for Human Rights in Insurance Underwriting, Investment and Financing: Respect for the■Human Rights Workshop’s Assessment of Risks and Impact

Rights of Indigenous People and Local Residents through Insurance Underwriting, Investment andIn November 2022, a human rights workshop was held with the participation of members from the

Financing

corporate planning and administrative departments of Tokio Marine Holdings and Tokio Marine & Nichido.

We recognize the importance of responding to the identified human rights risks within insurance

The workshop consisted of three parts: “global trends in business and human rights,” “workshop session 1:

underwriting, investment and financing, and periodically reviews the sectors that should be prohibitedsharing and discussing current initiatives and issues” and “workshop session 2: value chain development.”or considered within the framework of the Policy to Address Environmental and Social Risks, while

Based on the opinions of outside specialists, we narrowed down risks in the areas of our business (directreferencing international principles of action and guidelines. We also review them whenever necessary

operations, value chain, insurance underwriting, investment and financing). As a result, the following

based on dialogues with experts, NGOs and other parties. In September 2022, we revised the Policy

priority human rights risks were identified.

to Address Environmental and Social Risks and made the implementation of insurance underwriting,investment and financing in the oil sands sector oil and gas extraction projects in the Arctic Circle more

• Respect for the human rights of non-Japanese technical trainees

strictly, as they are likely to negatively impact the rights of indigenous peoples and other local residents.

• Respect for human rights to be practiced with business partners in our value chain• Respect for the human rights of all insurance customers• Respect for Human Rights in the Value Chain: Interviewing Rightsholders to Conduct Impact• Prevention of damage to corporate value through insurance underwriting, investment and financing

Assessments• Prevention of the infringement of employees’ human rights

Auto insurance is a major insurance product in the non-life insurance business. Car dealers and repair/• Prevention of the furtherance of prejudice and discrimination in advertisements and product development

maintenance operators are valuable stakeholders in Tokio Marine Group’s value chain. With thecooperation of CRT Japan, a human rights expert, we engaged in dialogue with technical trainees andImpact assessments, including interviews of rightsholders, were also conducted in some areas that haveother people engaged in car repair and maintenance and exchanged opinions to better respect humanbeen specified by the human rights workshop as being high risk.

rights.
• Respect for Human Rights in In-House Operations: Preventing Infringement of Employees’ Human
Rights through Self-Inspection
We seek to increase an understanding of how Tokio Marine Group companies in Japan and overseas
respect human rights as an employer, as well as identify human rights and labor issues connected to theemployees of the Group while preventing such issues from occurring, minimizing them when they occur
and making improvements. Accordingly, we encourage each Tokio Marine Group company to conduct
self-assessment using the Tokio Marine Group Checklist on Human Rights Issues, which referencesinternational standards regarding respect for human rights and labor. We aim to link these assessment tostrengthen initiatives to respect human rights as an employer throughout the Group.

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Initiatives

Details■ Respect for Human Rights in Sustainable Investment and Financing

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

could occur within global companies’ supply chains that span the world.

Giving consideration to environmental, social and governance (ESG) issues in investment and financing is
becoming increasingly important from the perspective of improving long-term risk/return. Tokio Marine

Tokio Marine & Nichido introduces CRT Japan to companies working to promote “responsible supply& Nichido places great importance on the social role and responsibilities that the insurance industry is

chains.” These companies receive advice from CRT Japan and establish systems that aim to reduce human

expected to fulfill, and in June 2012 signed as a drafting member the Principles for Sustainable Insurance

rights risk throughout their entire value chain.

(PSI) advocated by the United Nations Environment Programme Finance Initiative (UNEP FI). In April
2011, Tokio Marine Asset Management signed the United Nations-supported Principles for Responsible

Tokio Marine & Nichido then designs and provides custom-made insurance for companies that receive

Investment (PRI) initiative, accepting these principles as an asset management company. As an insurance

advice from CRT Japan. This insurance covers the additional costs of establishing crisis measures whenfirm that has taken ESG issues into account in its insurance underwriting, investment analysis and otherhidden human rights risks are discovered at second- and third-tier manufacturing subcontractors overseas

actions, Tokio Marine & Nichido signed the PRI in August 2012. Through PRI and PSI related activities, Tokio

despite having already taken adequate measures for human rights risk when building supply chains.

Marine Group is strengthening its initiatives for respecting human rights in investment and financing.
Initiatives for Sustainable Investments

Tokio Marine Group will continue to support the building of supply chains of global companies.

■ Supporting Initiatives for Reducing Human Rights Risk in Building Supply Chains
In solving human rights problems such as forced labor and child labor globally, rather than relying solely■ Fact-Finding Survey of Initiatives to Respect Human Rights among Tokio Marine Group
Companies in Japan and Overseas

on initiatives by government institutions, there are increasing demands that global companies takeIn fiscal 2022, we conducted a written survey among Tokio Marine Group companies to gain basic

responsibility and respond to these problems throughout their entire supply chains. There are also various

information on topics such as the relevant laws and regulations in the countries where they are located,instances in which inadequate handling of these issues causes a major decline in the brand value of global

major outsourcing contractors and suppliers and current initiatives to respect human rights. The survey

companies, sometimes leading to product boycotts.

aimed to find facts about their initiatives regarding respect for human rights, and the results were used asa reference to formulate human rights-related measures for the entire Group.

Accordingly, in fiscal 2017 Tokio Marine & Nichido formed a business alliance with CRT Japan and has been
providing support for initiatives for reducing human rights risk, such as forced labor and child labor, which

The results revealed that each Group company is not engaged in transactions in industries that haveparticularly conspicuous human rights issues in terms of outsourcing and procurement. At the sametime, few companies were found taking action in accordance with international rules on human rights

Company② Introduce CRT Japan③Advice on reducing
human rights risk in the
supply chain① Consultation

CAUX ROUND TABLE
Caux Round Table Japan(CRT Japan)

established by the UN Guiding Principles on Business and Human Rights. This renewed our understanding

Allianceof the need to involve all Group companies in the promotion of these initiatives.

④Design custom-madeinsurance to coverhuman rights risk

Tokio Marine Holdings

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6.2.5 M echanisms for Complaint Handling and Remediation

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

without fail, and together with its employees and business partners, will implement initiatives toprevent slave labor and human trafficking.

Tokio Marine Group has established internal and external hotlines (whistle-blowing hotlines) where

Tokio Marine & Nichido’s statement under the UK Modern Slavery Act 2015

officers and employees of Group companies can report and consult on matters that may involve humanT okio Marine & Nichido’s statement under Australia’s Modern Slavery Act 2018 (Australian government’s

rights concerns. The Group provides its officers and employees with multiple contact points and reporting

online register site)channel options including internal and external hotlines, as well as a company audit hotline. We prohibit
any disadvantageous treatment or retaliation against relevant officers, employees and those who
cooperate in investigations because of such reports or consultations. In addition, we strictly manage theconfidentiality of reports and consultations by ensuring anonymity and sharing information only to theModern Slavery

extent necessary for effective investigations and corrective measures.

Modern Slavery refers to enslavement and servitude, all forms of forced labor and human trafficking,etc. The International Labour Organization (ILO) reported in a 2014 survey that there were

Tokio Marine Holdings monitors the handling of the reports and provides support for the appropriate

approximately 21 million victims of forced labor worldwide (as of 2012) while annual illicit profits

installation and operation of the whistle-blowing system, thereby establishing a mechanism that allows

reached US$150 billion (estimate), which shows that even in present times slave labor and humanofficers and employees of each Group company to report concerns without fear of retaliation.

trafficking are serious social problems.
Modern Slavery Act 2015 of the United Kingdom

Tokio Marine Group is also working to open a hotline for handling external complaints in 2024 so that it

In March 2015, the British government enacted the Modern Slavery Act 2015 to prevent forced labor

can be used to identify and solve possible human rights issues in its value chain (supply chain).

and other present-day slave labor as well as human trafficking. The act went into effect in October
2015. Section 54 of the act requires commercial organizations that undertake business in the United
Kingdom and that have annual sales of £36 million or more to publish a statement of steps taken
each fiscal year to prevent slave labor and human trafficking in their own businesses and value chain

6.2.6 R esponse to the Modern Slavery Act 2015 of theUnited Kingdom and Modern Slavery Act 2018 ofAustralia

Tokio Marine & Nichido, Tokio Marine Kiln and other Tokio Marine Group companies published a modern
slavery statement in compliance with the UK’s Modern Slavery Act 2015. Meanwhile, Tokio Marine &(supply chain).
Modern Slavery Act 2018 of Australia
Following the United Kingdom, the Australian government enforced the Modern Slavery Act 2018
in January 2018. The act requires entities based or operating in Australia, which have an annual
consolidated revenue of more than ASD 100 million, to report (register) every fiscal year on how theyassess risks of modern slavery in their operations and supply chains as well as actions to address theserisks.

Nichido and other companies submitted a modern slavery statement to the Australian government incompliance with its Modern Slavery Act 2018.
■Actions Taken by Tokio Marine & Nichido
Tokio Marine & Nichido has been publishing its statement every year since 2016 under the Modern
Slavery Act 2015 of the United Kingdom. Starting from 2020, the company also annually reports(registers) its modern slavery statement to and with the Australian government under the country’s
Modern Slavery Act 2018. Tokio Marine & Nichido will continue to report its modern slavery statement
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6.2.7 S takeholder Engagement■Participating in the Stakeholder Engagement Program

Tokio Marine Group believes that the practice of high-quality business management regarding respect forJapan CSR Consortium, for which CRT Japan acts as the administrative office. The program facilitateshuman rights requires the establishment of mutual trust through dialogue with stakeholders and leads it

companies from various sectors, NPOs and NGOs to share the latest knowledge about human rights issues

to the resolution of human rights issues.

and discuss the contexts where human rights issues arise, the connection between business activities

Tokio Marine Holdings participated in the Stakeholder Engagement Program (SHE) organized by theand human rights, important human rights issues and the importance of business activities that consider
Our top management takes charge of listening to the opinions of outside experts. Employees work tohuman rights. Through our participation in SHE, we deepen our understanding of human rights issues andunderstand human rights issues by listening to customers’ opinions directed to the Group companies,

strive to improve Tokio Marine Group’s initiatives to respect human rights.

communicating with shareholders, investors, employees, business partners and civil society organizations
and exchanging opinions with outside experts. These insights are reflected in the Group’s initiatives, such

■Dialogues with Human Rights-Related NGOs and NPOs

as in HRDD. Through integrated annual reports, sustainability reports and individual interviews, we strive

Through dialogues with human rights-related NGOs and NPOs, Tokio Marine Group companies increase

to promote an understanding of Tokio Marine Group’s views, values and initiatives.

their understanding of various human rights issues, the connection between human rights issues andthe respective companies’ business activities, as well as the negative impact of our business activities on

We then implement a process for the continued improvement of the Group’s initiatives to respecthuman rights. The insights gained through these activities are utilized in their respective initiatives tohuman rights based on dialogues with stakeholders. In this way, we aim to improve the quality of ourrespect human rights.

management regarding the respect of human rights.
■ Advisory Council
In August 2022, Tokio Marine Holdings held an Advisory Council meeting to discuss the human rights
actions that global enterprises are expected to implement. The council consists of Group CEO Satoru
Komiya, CFO Kenji Okada, CHRO Kenichi Kitazawa, CSUO Kiyoshi Wada, CDIO Mika Nabeshima and othermembers. The meeting was also joined by outside experts, including Mr. Hiroshi Ishida, the Executive
Director of CRT Japan, Ms. Chikako Miyata, the Executive Vice President of ANA Holdings Inc. and Ms. Yuko
Tsutsui, the Executive Officer of NYK Line.
The Advisory Council received advice on topics such as changes in the external environment surrounding
human rights issues, best practices of progressive companies, ways to identify human rights issues,
excellent mechanisms for handling complaints and practical application of HRDD. We utilized the adviceof outside experts in the formulation and implementation of Tokio Marine Group’s HRDD action plans.

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■Third-Party Opinion

Business and Human Rights Initiatives of Tokio Marine Group
1. Initiatives to be commended in fiscal 2022

2. Initiatives to be addressed in the future

The following are your initiatives to be commended in fiscal 2022 for the establishment of a

In relation to your initiatives in fiscal 2022 for the establishment of a management structure

management structure based on the United Nations Guiding Principles on Business and Humanbased on the UNGPs, we expect you to address the following.

Rights (hereinafter, the “UNGPs”).
❶ Check for the presence of human rights issues❶ Top management’s commitment

Continue with HRDD and, through impact assessments (direct dialogue with rightsholders),

At the meeting of Tokio Marine Holdings’ Advisory Council held on August 26, 2022, the top

check for the presence of human rights issues and address them. Ensure that the knowledge

management expressed its basic approach toward the UNGPs and proactively exchanged

obtained through this series of processes is shared within Tokio Marine Group to increase an

opinions responsibilities that a executive management should bear when making management

understanding of the UNGPs within the entire Group.

decisions. This strongly conveyed the top management’s commitment to the promotion of
initiatives aligned with the UNGPs.

❷ CompletenessRegarding the business partners Tokio Marine is involved with, proactively exercise your positive❷ Participation in the Stakeholder Engagement Program

influence on society by requesting that suppliers comply with your procurement policy.

By joining the Stakeholder Engagement Program organized by CRT Japan, you sought toincrease an understanding of the connection between human rights issues and your business❸ Depthoperations through participation in workshops and discussions for identifying human rights

Place importance on building relationships of trust with rightsholders through direct dialogue

issues in the industry.

and improve your mechanisms for handling complaints.

❸ Identification of human rights themes❹ Information disclosure

Tokio Marine identified human rights themes in its business operations and value chain throughThrough the activities described above, develop a narrative on topics such as how much of your

HRDD risk assessments.

vision has been achieved and what needs to be done by when, and then disclose the narrativewith information on decision-making processes and the decisions made at the Management
Meeting to increase the transparency of your initiatives.
September 2023

Hiroshi Ishida
Executive Director
CRT Japan

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6.3 Promoting Diversity and Inclusion
Tokio Marine Group believes that for us to further improve the quality of our products and services

A Truly Inclusive Global Insurance Group

worldwide, we must develop all of our motivated and talented employees to the maximum of theirpotential regardless of gender, age, nationality, disability or any other attributes. Specific initiatives
pertaining to the group-wide promotion of diversity and inclusion (D&I) include eliminating gender
the gap, creating a workplace in which older employees and persons with disabilities can take activeroles as well as promoting employment regardless of nationality or race and facilitating mid-career
recruitment and development of employees with diverse experience.

6.3.1 Tokio Marine Group’s D&I■Definition of D&I

Attract

EmpowerDevelop/Promote

RetainWe aim to be acompany thateveryone can fully
demonstrate theirinherent capabilities
and that is chosen by adiversity of humanresources regardless of
individual attributes.

We will create a truly
inclusive working
environment where all
employees can fully
thrive, establish anenvironment
necessary forcontributing tocustomers and society
and delegate
employees anappropriate degree of
discretion.

We will offer support
that enables each andevery employee toachieve growththrough their work byproviding all
employees with avariety of experiences
and learning
opportunities as wellas venues to play
active roles.

We will build strong
bonds of trust
between the company
and employees, andemployees will be
evaluated fairly andcompensatedappropriately basedon their contributions.

Tokio Marine Group defines diversity and inclusion as below. This definition serves as the basis ofvarious initiatives toward D&I.
What is diversity?

Attributes, qualities andexperiences that shape
the individuality of each
employee

What is inclusion?
Creation of workplaces
where all aspects of diversity
are accepted, cultivatedand respected so that all
employees can maximize
contributions to ourcustomers, business partners
and society“Our People”
Our people are the most valuable asset of our Group and a key driver of ourGood Company vision.
We aim to attract and retain the best talent in every aspect of our business toensure we deliver safety and security to our customers and their communities.
Our people bring passion and a challenging spirit to their endeavors and we
provide them opportunities for career development and ongoing personal■D&I Vision
Tokio Marine Group has formulated the D&I Vision based on four important elements consistingof Attract, Empower, Develop/Promote and Retain, which we will strive to realize through our D&I
initiatives. In conjunction with “Our People,” which expresses Tokio Marine Group’s philosophy on

growth.
Our people embody diversity and we value inclusion as a truly global company.
We work hard to create a business environment where we can achieve our fullpotential as we continue our endless journey to be a Good Company.

human resources, we will make a group-wide commitment to D&I and evolve our initiatives toward
the attainment of D&I. Through the realization of Attract, Empower, Develop/Promote and Retain, we
aim to become a truly inclusive global insurance group.
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6.3.2 D&I Promotion Structure❶ Tokio Marine & Nichido’s Initiatives■D&I Promotion Structure

increase the quality of its decisions, Tokio Marine & Nichido continues its work toward eliminating the

Rooted in its belief that employees with diverse value sets participating in the decision-making process

Tokio Marine Group established the position of Group Chief Diversity and Inclusion Officer (CDIO)

gender gap to achieve a state in which women commonly participate in every decision-making process.

and Diversity Council in April 2021 to accelerate D&I-related initiatives and create an environment

Based on a policy for initiatives toward eliminating the gender gap via a dual approach of having womenthat enables all Group employees to leverage their diverse backgrounds and fully exercise their

participate in every decision-making process and increasing the engagement of each and every female

capabilities.

employee, the company aims to realize this state by introducing initiatives that create an environment
where each female employee can continue to grow while feeling motivated to work.

Chaired by the Group CEO, the Diversity Council
is positioned as an advisory body that directly

Tokio Marine & Nichido has set a quantitative target of increasing the ratio of women in management-

reports to the CEO. Led by the CDIO, council

and higher-level positions to 30% by fiscal 2030. Accordingly, the company has been stepping up its

m e m b e r s re p re s e n t i n g t h e d o m e s t i c a n defforts to create an environment where they can take up a new challenge based on their willingness

international companies of the Group discussand capabilities. These include role assignment and year-long on-the-job training (OJT) based on

important D&I-related topics. For details, see

individual career visions, job transfers across departments and various training.

Human Capital Report 2023 (in Japanese) (PDF/
P.58).

Target30％

Diversity Council in July 2023

6.3.3 D&I Initiatives

11.2％■D&I Promotion Structure

3.6％

Tokio Marine Group regards the promotion of D&I as its growth strategy, with the Group CEO

2011

communicating this at many different meetings and seminars. For details, see Human Capital Report

2023

2030

Ratio of women in management- andhigher-level positions

2023. For details, see Human Capital Report 2023 (in Japanese) (PDF/P.58).
■ Eliminating Gender Gap❷ Group Initiatives and Results

Aside from initiatives undertaken individually by Group companies, Tokio Marine Group as a whole is

Eliminating the gender gap is a group-wide issue. For many years, we have been actively promoting

providing a variety of opportunities for female employees. In fiscal 2019, we launched Tokio Marine

the creation of a workplace environment and the development of our human resources, aiming toGroup Women’s Career College (TWCC), an internal program for female employees of Tokio Marine

enable every female employee to develop her career in self-directed ways and take on leading roles

Group companies in Japan. It provides the opportunity for willing participants to think about andin a broader range of fields.

increase awareness of their own careers as they motivate each other and gain insight into diverse
values and philosophies.

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As a result of these initiatives, more than 500 women are currently holding management-level■Overseas Initiatives

positions and playing active roles at Group companies in Japan. Tokio Marine Holdings has two

U.S.-based PURE wants employees to be passionate about their jobs, devoted to the company andfemale directors, one Audit & Supervisory Board Member and two executive officers, while Tokio

proactively committed to their work, and it believes that employees perform best in an environment

Marine & Nichido has one female director, two Audit & Supervisory Board Members and five executive

where they are respected and treated fairly and equally.

officers. Both companies are integrating diverse views into their corporate management.
Employee Resource Groups (ERG) are independent, employee-operated entities founded in each
In recognition of such group-wide initiatives and performance in terms of results, Tokio Marine

region since 2021. They operate as resources for the company to make decisions on policy andHoldings was selected four times as a “Nadeshikocommunity issues while simultaneously advancing the following initiatives to build a diverse andBrand” in fiscal 2013, fiscal 2015, fiscal 2017 andinclusive organization.

fiscal 2018. Further, the Group CEO announced his
advocacy of a declaration of action stating that agroup of male leaders dedicated to empowering

PURE United (Ally)

Raises employee awareness and fosters a sense of unity by listening to feedback fromthe local community on company activities and promoting solidarity with marginalizedgroups.

Asian & Pacific Islander ERG

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

PURE ＋ (LGBQTIA +)Raises awareness for the respect of LGBQTIA+ people, promotes growth and ensuresequality.

PURO Orgullo(Hispanic & Latinx)

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

The BERG (Black 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.

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.

women would accelerate the active participation of
women who shine as well as the vision of the 30%
Club Japan established in May 2019.
Tokio Marine & Nichido has earned the Diversity Management Selection 100, an award sponsoredby the Ministry of Economy, Trade and Industry (METI). For this award, METI selects and commends“companies that have raised corporate value through diversity-oriented management.” Tokio Marine& Nichido was recognized for its efforts such as
enabling numerous women to continually take activeroles by helping protect motherhood, enhancing
systems for supporting child rearing and transforming
the overall roles of employees, and for promoting theemployment of persons with disabilities while raising
consciousness of the principle of normalization.
In addition, six other Group companies, including Tokio Marine & Nichido Career Service and Tokio
Marine dR, were granted “Eruboshi” certification by the Minister of Health, Labour and Welfare as
outstanding companies in terms of conditions related to promoting the active participation of

6.3.4 Utilizing Diverse Human Resources

women. The certification has three stages depending on the number of assessment items fulfilled■Empowering an Age-Inclusive Workforce

and five companies received the top certification.

Tokio Marine Group is engaged in efforts such as the continuing employment and personal

Sustainability Performance Data (Number of directors and managers)development of older employees, which lead to the sustainable growth of the Group as a whole andthe empowerment of these employees. For details, see Human Capital Report 2023 (in Japanese)(PDF/P.61).
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Environmental
Initiatives■Promoting Employment of Persons with Disabilities
Aiming to “resolve social issues by promoting employment of persons with disabilities and creating
supportive working environments to contribute to the realization of an inclusive society where

SocialInitiatives

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6.4 P
 romoting the Development andEmpowerment of Human Resources

everyone can live with a sense of security,” Tokio Marine Group is promoting the employment of
persons with disabilities at Group companies and working to raise consciousness of normalization.
For details, see Human Capital Report 2023 (in Japanese) (PDF/P.61).
Sustainability Performance Data (Rate of employment of persons with disabilities)
Tokio Marine Business Support (in Japanese)• Promoting Normalization
Tokio Marine & Nichido Systems has made offices barrier free and hired persons with physicallydisabilities as IT engineers.
In September 2008, the company set up a massage room on the administrative floor to employ
people with visual impairments to provide massages to employees. Since September 2009, thecompany has been employing people with disabilities to provide services, including at the internal
Smile Cafe and the Smile Office Service which provides general administrative services such as the
production of name cards, printing documents and digitalizing paper documents. In this way, thecompany has been actively committed to promoting normalization, helping persons with disabilities
enjoy a good quality of life. Smile Cafe is a place where employees can relax and every day a total of
about 400 colleagues come to the cafe or buy from the cafe’s cart that comes to their workplaces.
It also sells bread and sweets made at a nearby welfare facility. Every year, Smile Office Service has
added to the types of work it handles and it has gained the trust of the Group’s employees.
By having general employees and members with disabilities work together, synergetic effects arebeing created in terms of cheering up each other and enhancing work satisfaction.

Publication of Human Capital Report
The insurance business is referred to as a “people’s business.” Everything about the businesscomes out of the trust built by people, including employees. Confident that maximizing thepower of people will lead to the realization of Tokio Marine Group’s purpose of protecting
customers and societies in times of need, we have worked to invest in people and develop
human resources since the Group’s establishment. The commitment remains unchanged. We
squarely face the maximization of the power of people by seeing people as the driving force for
growth. The concept of human capital management is rapidly becoming widespread. In relation,
the trend toward disclosing information about human capital management is accelerating. In
the future, it is expected that our stakeholders will refer to information related to human capitalin many different situations.
Amid this trend, we have published Human Capital Report 2023 in the hope that communicating
our views on and commitment to human capital management, without omission, will help
stakeholders understand us more deeply.
To date, we have presented information about human capital in our integrated annual reports
and sustainability reports. We believe that the publication of a report specifically on humancapital will increase stakeholders’ understanding of Tokio Marine Group’s view on people andspecific initiatives.

Tokio Marine & Nichido Systems (in Japanese)

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6.4.1 T okio Marine Group’s View on Its Purpose and People

Specifically, Tokio Marine & Nichido thoroughly aligns the career visions of individual employees,

Our approach to people is set forth in “Tokio Marine Group – Our People.” Based on this concept, we

resources development cycle that uses regular interviews throughout the year between supervisors

will systematically develop and drive engagement with all of our diverse people groupwide, in orderand their subordinates as milestones. While assigning challenging roles that lead to the growth of

to become a global insurance group, thus increasing the value of human capital that contributes torespective subordinates, the company provides continuous support for their growth and follows up

the realization of our purpose. For details, please refer to the following report.

on their progress.

what they want to become and their strengths and weaknesses. This is done based on the human

Human Capital Report 2023 (in Japanese) (PDF/P. 15)

In assigning roles, Tokio Marine & Nichido indicates the importance of addressing social problems■Proactively Accelerating Investment in Human Capitalthrough its business. When setting goals, the company goes back to Tokio Marine Group and

The Company’s goal is to solve social issues through our business activities with our purpose at its

considers specific actions to provide value that leads to the resolution of the issues faced bycore and in turn increase our corporate value. In order to agilely respond to and solve increasingly

customers and local communities and ensures that these goals reflect a consideration of eachcomplex social issues, the capabilities of the Group’s more than 40,000 employees in Japan andemployee’s role and that it is persuasive to the employee. As a resuit, bonuses are determined byinternationally are a key factor for our success. We will therefore invest in and further develop

employee performance, including the resolution of social issues.

human capital to remain a “Good Company” that is truly needed and trusted by customers and local
communities 100 years from now. For details, please refer to the following report.
Human Capital Report 2023 (in Japanese) (PDF/P. 12-15)

Tokio Marine & Nichido also creates and provides an extensive range of programs related to humanresources development, including broad training opportunities and e-learning and other learning
tools, both of which respond to employees’ diverse needs and career visions. The company has alsoestablished a variety of systems, such as the Project Request System and Job Request System, to

6.4.2 Various Initiatives to Promote Human Resources

Development■Initiatives for Human Resources Development
The insurance business, which constitutes Tokio Marine Group’s founding business, is a people’sbusiness. People and the trust built by people are the source of all our competitiveness. We believe

support employees’ aspirations.
Human Capital Report 2023 (in Japanese) (PDF/P. 38-44)

6.4.3 Dialogue with Employees

in the power of people and seek to develop human resources that can think on their own, act quickly

Tokio Marine Group values dialogue with employees about overall management, personnel measuresand keep growing.

and workplace environments and leverages the feedback to improve its management.

For example, Tokio Marine & Nichido aims to be a company where all employees continue to grow

■Building a Sense of Unity throughout the Groupand formulates its human resources development policy from dual perspectives of “individuals” andWe conduct a culture and value survey every year with the dual aims of measuring the extent to

the “organization.” Leveraging the synergy between these perspectives, we are working to help each

which our purpose has permeated and promoting D&I. The survey asks employees of Tokio Marine

employee improve faster.

Group companies around the world the same questions in different languages. The scores haveremained high. For details, please refer to the following report.
Human Capital Report 2023 (in Japanese) (PDF/P. 63)
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■Enhancing Engagement

To expand the talent pool, we provide employees with many training opportunities, including global

We conduct an engagement survey to accurately understand the status of the engagement of eachtraining (short-term overseas dispatch) for Tokio Marine & Nichido employees (third-year employees)

employee and implement effective measures in a timely manner. For details, please refer to thetaking the Global Course, which started in fiscal 2012, and overseas trainee dispatches. A specialized

following report.

department in charge of global human resources was established at Tokio Marine Holdings to

Human Capital Report 2023 (in Japanese) (PDF/P. 66-67)

steadily promote these measures. At the same time, the company regularly holds the Global Human

Sustainability Performance Data (Employee attitude survey results)

Resources Conference by gathering human resources department managers of major Group
companies to discuss measures to strengthen cooperation among human resources departments,
human resources development common to the Group, personnel strategies and other matters. Going

6.4.4 D eveloping and Securing Human Resources Capable ofEngaging in Global Businessforward, the company will continue to promote the global human resources strategy while actively
incorporating the opinions and requests of Group companies around the world.
■Stably Securing Global Management Personnel and Personnel with Specialized Knowledge■Promotion of Global Human Resources Strategy

The environment surrounding Tokio Marine Group has been undergoing rapid changes, including

Amid the increasing importance of overseas business, Tokio Marine Group considers it essential totechnological advancements, globalization and demographic shifts. Consequently, it has becomebuild a human resources base that supports development into a global insurance group through theincreasingly important to accurately capture these highly uncertain changes in the external

hiring and developing of diverse human resources at Group companies around the world. To achieveenvironment and reflect them in corporate management. As a system to stably develop management

this goal, we formulated a global human resources strategy and have been promoting various

personnel with high levels of expertise and management capability to respond to such significant

measures on an ongoing basis since 2012.

changes on a global scale and drive the Group’s management, Tokio Marine Holdings introduced
a new personnel system in April 2019. Under the system, we have been promoting group-wide
talent management of such personnel and continually providing a variety of transnational training

Pillars of Tokio Marine Group Global Human Resources Strategy❶ Develop Global Leaders❷ Develop highly professional human resources for each function in line with expertise❸ Expand the base of the global talent pool
❹ Establish systems and infrastructure to spread the Company’s Corporate Philosophy

programs.
Sustainability Performance Data (Number of employees, basic employee data)■ Securing Human Resources Who Will Lead the Future
Tokio Marine & Nichido endeavors to secure diverse and capable human resources that can play
active roles globally regardless of gender, nationality or whether they are new graduates or midcareer employees.

In fiscal 2023, the Tokio Marine Group Leadership Institute was established to consistently and

Tokio Marine & Nichido will continue to engage in a broad range of recruitment activities in an effort

continuously produce group management leaders in the integrated management of the Group. As

to secure excellent and competent human resources, and at the same time provide opportunities forthe first step to becoming a group management leader, the Institute offers unique, high-quality

participants to explore social issues and new solutions through workplace experiences and exchange

programs for leader development for the Group’s domestic and overseas companies. For details,

with employees, and contribute to the development of future generations. For details, please refer toplease refer to the following report.

the following report.

Human Capital Report 2023 (in Japanese) (PDF/P. 50-51)

Human Capital Report 2023 (in Japanese) (PDF/P. 37)
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6.4.5 Transforming Working Styles

and supports employees of Tokio Marine Holdings by providing various benefits, such as payroll

Tokio Marine Group has been striving to transform working styles with the aim of driving sustainablebuild assets. The participation rate stands at approximately 64%, with the number of participants

growth of the Group and employees by having diverse human resources work with high productivity.

exceeding 12,000 (both as of October 2023). Meanwhile, the number of shares held totals 30,589,000

deductions for contributions and incentive payments, to help them acquire shares more easily andshares, with a shareholding ratio of 1.53% (both as of March 31, 2023).
■Initiatives in Pursuit of Highly Productive Working Styles
Tokio Marine Group implements initiatives to pursue highly productive working styles, such as■ Tokio Marine & Nichido Pension Fund Defined Benefit Pension

increasing the flexibility of work rules. The time freed through these initiatives will be effectively used

Tokio Marine & Nichido allocates points to employees according to performance assessments, whichby each employee for personal growth and lead to the creation of higher added value. In this way,

are accumulated annually. The accumulated points at the time of calculating pension entitlement are

we seek the sustained growth of both employees and the company. For details, please refer to thethen multiplied by the point unit price to determine the base salary. The amount of pension benefit

following report.

is determined by multiplying the base salary by a fixed factor for each employee. In this program,

Human Capital Report 2023 (in Japanese) (PDF/P. 37)
Sustainability Performance Data (Annual average actual working hours)

employees receive a pension or lump-sum payment at the age of 65 or later.
■Defined Contribution Pension

Women play active roles in more domains, and more women continue their careers after marriage andTokio Marine & Nichido administers a pension program that lets employees select and operate

while caring for children. Tokio Marine Group provides many different programs, such as childcare leave,

their own investment products. As the source of funds, employees can either use the company

to help employees balance work and childcare so that they do not have to give up their careers and cancontribution, which is calculated by multiplying points based on annual performance assessment byfeel secure when giving birth and raising their children. For details, please refer to the following report.

a predetermined point unit price, or individual contributions to which employees themselves add a

Human Capital Report 2023 (in Japanese) (PDF/P. 75-76)

lump-sum amount within a certain scope. In this program, employees receive a pension or lump-sum

Sustainability Performance Data (Nursing care leave system)

payment at the age of 60 or later based on the results.

Sustainability Performance Data (Retiree rehiring system, maternity leave system, etc.)

6.4.6 Welfare Benefits
Tokio Marine & Nichido, the main insurance business company of Tokio Marine Group, offers legally
mandated welfare systems such as health insurance, welfare pensions, unemployment insurance andworkers' accident compensation insurance. The company also provides additional welfare programs,
including an employee stock ownership plan, corporate pension fund, welfare package service
provided through a welfare benefit agency, recreational facilities, condolence money and disaster
relief payment.

6.5 P romoting Health and Productivity

Management and Improving Occupational
Safety and Health Standards

6.5.1 O ur Stance on Promoting Health and Productivity

Management
Maintaining and enhancing the physical and mental health of our employees is our top priority, as■Tokai Nichido Employee Stock Ownership Plan

they are the driving force for solving social problems through our business based on our Purpose andTokio Marine & Nichido operates an employee stock ownership plan that facilitates the acquisition

consequently enhancing our corporate value. As such, we seek to provide an environment that enablesof shares by employees, senior employees, specified employees and specially assigned employees

employees to work with enthusiasm and vigor. Tokio Marine Group has been encouraging its employees
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to maintain and improve their health both physically and mentally by building a management system
for increasing occupational safety and health within the Group and continually working to improve theperformance of its management system.

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◉ Tokio Marine Group Wellness Charter
In order to instill Tokio Marine Group’s vision of and thinking behind health and productivity
management throughout Group companies in and outside Japan, we have formulated the Tokio◉ Tokio Marine Group’s Health and Productivity Management Vision
In all its business activities, Tokio Marine Group regards its employees, who play critical roles incarrying them out, as one of its most valuable assets. We seek to ensure the physical and mental
health of employees so that they can work enthusiastically with greater satisfaction and motivation,
support the health promotion efforts of customers, local communities and society as a whole andhelp resolve related social issues. By doing this, we ultimately aim to achieve the sustainable growthof the Group.

Marine Group Wellness Charter as health-related guidelines for employees. To disseminate the charter
to Group companies overseas, we created both Japanese and English versions.
Tokio Marine Group regularly holds training sessions for employees responsible for health andproductivity management at each Group company in Japan. In addition to applying health andproductivity management measures throughout the Group and improving content, we have
distributed a video message from the Group Chief Wellness Officer (CWO) in English for employees atoverseas Group companies and put together a feature story on health and productivity management

Tokio Marine Group thoroughly complies with laws and regulations related to occupational safety
and health and, as a signatory to the UN Global Compact, respects international standards and norms
related to occupational safety and health.

the Tokio Marine Group Wellness Charter throughout Group companies in and outside Japan.

safety, health and living conditions of employees and others of business partners, and ensure theenvironment in which employees and others can work with enthusiasm and enhance the health andproductivity of employees and others.

Expanding the scope in line with changes in health issues
Maintaining andpromoting health(establishment ofself-directed healthy
behaviors)in the Group newsletter, among various efforts, to help employees internalize the philosophy behind

In addition, the Group established "Responsible Procurement Guidelines" and is striving to care for

Health and Productivity Management Vision

Initiatives
to ensureemployeehealthSocialInitiatives

Preventing
lifestyle-relateddiseases(behavior change)

Preventing disease
aggravation (measuresfor employees withanomalies in healthcheckup results)

Achieving sustainablegrowthContributing to resolving
related social issues

Tokio Marine Group Wellness Charter

Every employee being healthy both physically and mentally

Impacton theorganization

Promoting newworkstyles(creating anappropriate
environment)

Higher employee satisfaction andmotivation (work engagement)

Organizational
vitalization

Reducing the burden as a caregiver to help employees
balance work with family care

Better businessperformance and higher
corporate andshareholder value

Promoting changes in the organization

Impact on
external
evaluation

Higher brand image

Favorable effects on
recruitment

Group-wide implementation (Group companies in Japan and overseas)

Corporate Philosophy and Tokio Marine Group Wellness Charter

Establishing health andproductivity management
as a corporate culture
to support growth asa “Good Company”

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Performance Data

<Declaration of Health and Productivity Management>

For the four indexes, Tokio Marine & Nichido collaborated with the Health Insurance Association

Tokio Marine & Nichido, a major Tokio Marine Group company, is promoting an array of initiatives

and analyzed health-related data, including the results of health checkups. It has been shown

under its Declaration of Health and Productivity Management, which states that employees represent

that presenteeism, absenteeism, work engagement and the organization’s vibrancy level are all

the most important driving force in becoming and continuing to grow as a “Good Company” chosen

statistically related to lifestyle-related disease risk, mental health risks and the work environment.

by customers, and that Tokio Marine & Nichido proactively seeks to maintain and promote thephysical and mental health of employees and their families. The company provides the expertise

Tokio Marine & Nichido has always worked to promote health through four priority measures. They

cultivated through these initiatives to its business partners working on health and productivity

are measures to promote health based on a population approach to improving lifestyle habits,

management. In this way, it also promotes these initiatives throughout society.

measures to prevent lifestyle-related diseases including steps to prevent their progression into severe
conditions and to encourage people to undergo a variety of health checkups; measures to realize a◉R elationship between Tokio Marine Group’s Health and Productivity Management
Vision and Health-Related Measures
Tokio Marine & Nichido’s thinking about the health it pursues through its health and productivity
management initiatives is focused on two axes, the health of individual employees and the health ofthe organization. Accordingly, the company has established the following four ultimate health-related
target indexes and defined quantifiable targets for three of them. Under the occupational safety andhealth management system, the company implements a PDCA cycle and seeks to improve the levelof its occupational safety and health and enhance organizational and individual health. It is necessary
to implement measures to reduce absenteeism related to non-occupational illness or injury. Equallyimportant is the creation of systems and a corporate environment that enables employees to taketime off when necessary. These elements are vital in the development of workplaces that enable

better working life including mental health measures; and measures to enhance health literacy which
are the basis for all health-related behaviors. As analyses of data have confirmed that these initiatives
contribute to the enhancement of individual and organizational performance, the company willremain focused on these health-related measures.
In addition, Tokio Marine & Nichido periodically identifies and evaluates risks related to occupationalsafety and health. The results are utilized in implementing the PDCA cycle in its health-related
initiatives by, for example, preferentially taking countermeasures to address the material risks
identified through the process. In the event of an occupational accident, the company interviewsthe employees involved and investigates to identify the cause of the accident and prevent any
recurrence.

employees to thrive and have long careers. For this reason, Tokio Marine & Nichido will focus on theanalysis of factors without setting specific targets for the time being.
Ultimate health-related target indexes

Health ofindividual employees

Health of the organization

Targets for 2023

Improvement in presenteeism*1

63.0

Improvement in absenteeism—

Enhancement of work engagement*2

2.75

Enhancement of the organization’s vibrancy level*3

3.00*1 Absolute presenteeism identified by the WHO Health and Work Performance Questionnaire (WHO-HPQ) (maximum: 100)
*2 Measured by work engagement indicators in a simple survey of new work stress (maximum: 4.0)
*3 Measured by organization unity indicators in a simple survey of new work stress (maximum: 4.0)2023 Sustainability Report 108

Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Relationship between Tokio Marine Group’s Health and Productivity Management Vision and Health-Related Measures

Effects of health investment

Health investment(measures)

Indicators for employees’
awareness and behavior
changes

Indicators for ultimate health-related targets

Management issues to beresolved throughhealth and productivity
management

Measures topromote health

Health Promotion Months(“My Challenge” program: individual efforts)(“Our Challenge” program: organizational efforts)(Holding health-related seminars)
Mimosa Health Committee (health support for women)(Cancer examinations for women)(Holding health promotion seminars for women)(Setting up a Mothers’ Room)

Follow-up after health checkups(Giving health guidance to obese employees and employees
showing anomalies in health checkups)
Measures to prevent disease aggravation(Preventing aggravation of high blood pressure and diabetes)
Specific health guidance(Programs to improve lifestyle habits)
Fitness program for younger employees(Programs to improve lifestyle habits)
Support for stop-smoking initiatives(No smoking during working hours / Reducing smoking areas)(Subsidies for outpatient treatment to stop smoking / Stop
Smoking Course)(Electronic distribution of newsletters encouraging no smoking)Mental health measures(Promoting self-care initiatives,
measures for early detection and treatment)(Interviews with new employees)(Providing support to employees with a high stress level)(Supporting return to work and preventing relapse)

Measures to realize
a better working life

(Providing learning tools)(Encouraging employees
to take relevant
certification tests)(Electronic distribution ofhealth information
newsletters)

Measures to prevent
lifestyle-related diseases

Health checkups (examinations)(Periodic health checkups and checkups for lifestyle-relateddiseases)(Cancer examinations)(Encouraging employees to receive secondary examinations)

Measures to enhance
health literacy

Tokio Marine Group Wellness Charter and
Declaration of Health and Productivity Management“Get Healthier” Initiative(Health declaration through “Get Healthier” Initiative card)

Countermeasures against infection(Various measures to prevent infection)(Health management of infected employees / Measures toprevent the spread of infection)
Measures to help employees balance workwith medical treatment(Collaboration among employees, their superiors,
industrial health staff and external organizations)
Measures to improve work engagement levels(Implementing “Discovery Time” initiative to consider what
employees aspire to and how they want to work)(Measures to remedy stiff shoulders and back pain)(Holding seminars, setting up a counseling desk andencouraging employees to take paid leave)

Enhancing health literacy(Employee questionnaire)

Improving lifestyle habits(Rate of employees with
exercise habit-related risk)(Rate of employees withdietary habit-related risk)(Rate of employees withsleeping habit-related risk)(Smoking rate)
Improving medical
treatment status(Rate of employees
continuously receiving
treatment)(Rate of employees notreceiving treatment)
Increasing the rates of
employees receiving various
health checkups andexaminations(Rate of employees receiving
periodic health checkups andcheckups for lifestyle-relateddiseases)(Rate of employees receiving
cancer examinations)(Rate of female employees
receiving cancer
examinations)(Rate of employees receiving
secondary examinations)

Increasing awareness andefforts for work style reform(Results of employeequestionnaires on work stylereform)(Total overtime hours)

Individual

Maintaining and promoting
physical health(Rate of employees
maintaining appropriate BMI)
(Rate of anomalies inhealth checkups)(Rate of employees athigh risk of diseases)(Subjective views of own
health)Maintaining and promoting
mental health(Rate of employees with a highstress level)(Number of workplaces with ahigh stress level)(Job satisfaction levels)

Improving working
conditions(Number of employees
working long hours)(Paid leave taken)

Improving presenteeism
Check by attribute(gender, age, position,
department, etc.)

Improving absenteeism(absence rate and rate of
employees on leave)
Check by attribute(gender, age, position,
department, etc.)

Improving individuals’
work engagement
Check by attribute(gender, age, position,
department, etc.)

Regards employees as one ofits most valuable assets andensures the physical andmental health of employees
and their families so that they
can work enthusiastically

Social value
Contributing to the resolution ofissues in local communities
and society;Supporting health and productivity management of corporate
customers and agentsHigher employee
satisfaction and motivation
Improvement of well-being

Promotion ofdiversity & inclusion
More active roles of women

Corporate value

Organizational vitalization

Organization

Higher productivity

Achieving sustainable growththrough higher market value andbrand value

Improvingorganization’s
vibrancy level(Sense of unity in theworkplace)* The chart shows a simplified view of the relationship between each item of healthinvestment (measure) and investment effects for ease of understanding.

Group-wide implementation (Group companies in Japan and overseas)

2023 Sustainability Report 109

Basics

Environmental
Initiatives

Details◉ Promotion Structure

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

ideas are reflected in its health and productivity management and occupational safety and health

Overseen by the Group CEO, our initiatives to promote health and productivity management andoccupational safety and health management are led by the Group Chief Wellness Officer (CWO)
who is also the Group Chief Human Resources Officer (CHRO), and the Wellness Promotion Teamestablished within Tokio Marine Holdings. We are also engaged in collaborative health promotion
initiatives jointly with the Health Insurance Association.
Additionally, with the aim of extending our efforts to ensure that all employees working acrossJapan can be healthy, Tokio Marine & Nichido has established a system enabling the industrial healthstaff members (including industrial physicians and public health nurses) stationed at 46 locations
nationwide to collaborate with key people appointed in each workplace for human resources skills

management efforts. Public health nurses and other professionals leading the creation andimplementation of health and productivity management plans are registered in the Japan Society
for Occupational Health’s Occupational Health Nurse Program and continuously receive training
to increase their expertise (as of September 2023: one senior specialist, three specialists and 10
registrants).

6.5.2 H ealth and Productivity Management / Occupational

Health and Safety Initiatives and External Evaluation

development and for well-being. Using Tokio Marine & Nichido’s initiatives as a benchmark, we◉ Initiatives to Ensure Employee Healthare implementing a similar system in other Group companies in a phased manner. The company is

For its initiatives to ensure employee health, Tokio Marine & Nichido has defined the following

working to regularly engage in dialogue with employee representatives to ensure that employees’

priority measures based on “Data Health” plans created in collaboration with the Health Insurance
Association as well as the results of analysis of health checkup and various other health-related data.

Group CEO,
Tokio Marine Holdings• Measures to Enhance Health Literacy
We regard health literacy as indispensable in our actions to maintain and promote health. We work

Group Chief Wellness Officer(CWO)

to increase the health literacy of employees so that they are mindful of their own health and thatof the people around them, willingly learn about health measures and voluntarily engage in healthpromotion initiatives.

Wellness Promotion Team,
Human Resources Department

Health Insurance Association• Measures to Promote Health
Tokio Marine & Nichido

Group businesscompany

Group businesscompany

Group businesscompany

We believe the ongoing initiatives of employees are essential to maintain and promote theirhealth. By providing measures and tools to support their initiatives and encouraging individual andorganizational initiatives, we strive to enhance the health of all employees resulting in their lifelong
well-being.

Wellness Promotion Office, Human
Resources Planning Department(industrial health staff)• Measures to Prevent Lifestyle-Related Diseases
A lifestyle-related disease is a health issue that greatly affects both the current and future life of
Human resources skills
development key persons
and well-being key persons
in each workplace

Human resources skills
development key persons
and well-being key persons
in each workplace

Human resources skills
development key persons
and well-being key persons
in each workplace

an employee. As an effort to prevent the onset and aggravation of lifestyle-related diseases, we
proactively provide support by industrial health staff as necessary based on the results of healthcheckups.
2023 Sustainability Report110Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

• Measures to Realize a Better Working Life

necessary for keeping employees healthy and preventing hazards while the labor union agrees to

In order to ensure the physical and mental health of employees, attention needs to be paid not only

cooperate with these measures.

to the health status of individuals but also to factors affecting it, such as the workplace environment
and their attitude toward work. We implement mental health measures led by supervisors in each

Each Group company has established an industrial safety and health management framework

workplace and industrial health staff and help employees balance work with medical treatment so as toin accordance with the Industrial Safety and Health Act to fulfill its obligation to ensure safety isenable them to work with vitality and with a higher level of work engagement and lead a fulfilling life.

appropriately considered. Specifically, Group companies appoint an industrial physician and ahealth officer and establish a health committee at each domestic business site with more than 50• Legal Compliance and Discussion with Employee Representatives

employees. The committees, composed of an industrial physician, a health officer, people in charge of

The Industrial Safety and Health Act, Health Promotion Act and other relevant laws and regulations

health management and selected employee representatives meet monthly to deliberate measures forform the foundation of all our initiatives in this area. We comply with every aspect of these laws andmaintaining and promoting physical and mental health, improving the workplace environment andregulations, from the conducting of regular health checkups and stress checks to protecting personal

preventing health disorders, including disorders resulting from overwork.

information. In its labor agreements, we promise to implement the safety and health measures◉ Examples of Major Health Measures■“Get Healthier” Initiative[Goals]Reduce the ratio of employees facing imminent lifestyle-related risks. ⇒ Increase the ratio of
employees with healthy BMI value. ⇒ Reduce the ratio of employees with lifestyle-related diseases.
⇒ Improve presenteeism and absenteeism.

Enhancing well-being
Measures to promote health
Individual and organizational efforts forhealth maintenance and promotion

Measures to prevent
lifestyle-related diseases
Avoid future health risks and reduce rate ofpeople with tendency toward these diseases[Details]
Measures to realize
a better working life

“Get Healthier” Initiative

Health checkups /Follow-up after health checkups

Mental health measures

Health Promotion Months

Measures to prevent disease
aggravation

Work engagement

Mimosa Health Committee(health support for women)

Specific health guidance

Help employees balance workwith medical treatment

This is an all-participation health promotion initiative designed to enable employees to maintainand promote their health. As part of this initiative, we have carried out Health Promotion Months
campaign every October and November since 1990. We have also been working to increase the rateof participation and achieve better effects in improving lifestyle habits by making adjustments to how
we conduct the initiative. Adjustments to date include providing menus of activities (“My Challenge”
and “Our Challenge” programs) to support individual and workplace initiatives, respectively. We havealso appointed key persons in each workplace and introduced a web-based tools. We also organize a

Fitness programfor younger employees

President’s Award program and have introduced an AI-based health app course.

Support stop-smoking initiatives[Results]

Measures to enhance health literacy
Comply with laws

Provide e-learning programs

Encourage employees to takevarious certification tests(Industrial Safety and Health Act, Labor Contract Act, Labor Standards Act,Act on the Protection of Personal Information, etc.)

In fiscal 2022, 7,106 people, 38.2% of all eligible people, participated in the “Get Healthier” Initiative.
After the initiative concluded, participants were asked to answer a questionnaire, and 97.5% of
respondents said they were satisfied or very satisfied with the initiative, indicating that participants’satisfaction was very high.
2023 Sustainability Report111Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

[Future initiatives]■Measures for Employees at High Risk of Lifestyle-Related Diseases

To involve more employees in the initiative, we will implement measures such as the utilization[Goals]of digital methods so that employees can participate more enthusiastically and voluntarily, as

Increase the percentage of employees getting medical treatment while reducing the percentage of

opposed to passively. These efforts will lead to the prevention of lifestyle-related diseases and theemployees not getting medical treatment. ⇒ Reduce the percentage of high-risk employees. ⇒ Improve

improvement of performance indicators.

presenteeism and absenteeism.
[Details]]

Verification of the Cost Effectiveness of the “Get Healthier“ Initiative

We set a predetermined threshold for blood pressure and blood sugar levels, and an industrial physician

The “Get Healthier” Initiative is divided into the “My Challenge” and “Our Challenge” programs. The
former involves the efforts of individuals, while the latter involves organizational initiatives. During
either program, participants may acquire a maximum of 555 points depending on participation status.

interviews all high-risk employees. High-risk employees are divided into different categories based

We divided participants with comparable data into two groups to examine the cost-effectiveness of
the “Get Healthier” Initiative. Those who acquired 200 points or more were included in Group A (1,416
participants), while those with fewer than 200 points were included in Group B (5,228 participants). The
result revealed Group A was 1.36 points higher than Group B in terms of presenteeism.

treatments and changes of behavior by recommending medical consultations, collaborating with primary-

The presenteeism disparity was converted into a monetary value from which the expense of
implementing the “Get Healthier” Initiative for the participants (approx. 500,000 yen) was deducted. The
cost-effectiveness of the program was found to be equivalent to a net gain of approx. 150 million yen
annually.

Moreover, the results of multi-year analysis on health checkup data revealed that 50% of employees

As the “Get Healthier” Initiative is thus
expected to improve participants’ lifestyle
habits and presenteeism, we will keep
working to involve more employees in theinitiative while increasing its effectivenessin helping employees improve both their
physical and mental health.

on criteria such as whether they have undergone treatment. After that, we decide the intervention
methods that are most necessary for the employees in each category. We encourage appropriate medicalcare doctors and providing health guidance via public health nurses. We follow through until their data
improves.

showing high blood pressure (levels II and III in some guidelines) did not apply to these levels in theprevious year. To prevent aggravation and suppress an increase in the number of employees developing
higher blood pressures, our public health nurses are providing health guidance and disseminating related

63.8

64.0

information via e-mail to employees with level-I high blood pressure.
These initiatives reduced the rate of high-risk employees from 1.7% in fiscal 2021 to 1.6% in fiscal 2022.
[Benefits]

63.0

In fiscal 2021, 62.8% of employees with high blood pressure and 43.1% of employees with high blood

62.5
62.0

Points acquired
Fewer than 200

sugar levels were diagnosed as not having high-risk symptoms in the following fiscal year.
Points acquired
200 or more

[Future initiatives]
With the average age of our workforce rising, measures to aid high-risk employees are becoming
increasingly important. Looking ahead, we will continue to implement two-pronged measures to

Figure 1: Comparison of presenteeism by points acquired

provide support for the health of our workforce. One is to arrange an intervention to aid high-risk

The presenteeism of the group of participants that acquired 200 points or more was 1.36 points higher
than the group that acquired fewer than 200 points. The benefits (approx. 150 million yen) greatly
outweighed the expense of implementing the initiative for the participants (approx. 500,000 yen).

employees and another is to prevent an inflow of more employees into the high-risk group so that
employees can promote their health to thrive over long careers.

2023 Sustainability Report112Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■Fitness Program for Younger Employees

Our women’s health support seminars in fiscal 2022 included one in May about preconception[Goals]care and another in March about menopause. These seminars featured outside speakers and were

Reduce the percentage of employees at risk of obesity due to exercise and eating habits. ⇒ Increaseavailable online for all employees to view.

the percentage of employees maintaining a desirable BMI. ⇒ Reduce the percentage of high-risk
employees. ⇒ Improve presenteeism and absenteeism.

We also strived to increase women’s health literacy by providing information through channels
including e-learning channels and Mimosa Health Committee mailing lists. By sending related[Details]

information to all employees without limiting it to women, we intend to communicate and facilitate

Since acquiring proper lifestyle habits while still young helps prevent lifestyle-related diseases in thean understanding of our health support measures for female employees in the hope that thesefuture, the program implements measures to help younger employees below the age of 40 maintaininitiatives are an opportunity for employees to think about the health of the women around them,a healthy body weight. In fiscal 2022, we held online seminars on diet and exercise for younger

including their family members and colleagues. We also set up a dedicated hotline for female

employees as a population approach and implemented health literacy initiatives. In addition, we

employees regarding health-related topics so that they can feel at ease when seeking advice.

administered a program upon request aimed at addressing obesity and metabolic syndrome.
The “Get Healthier” Initiative, a part of the Health Promotion Months project, includes the Women’s[Results]

Health Course that focuses on health issues unique to women, promotes initiatives to maintain the

In fiscal 2022, 78.6% of the 192 participants completed the program. Among those who completedbalance of physical and mental health and provides opportunities to improve the everyday habits ofthe course, 57.6% lost weight (2.0 kg on average) and 86.7% responded that they pay more attention

female employees.

to their health. Furthermore, it was observed that exercise habits improved for 55.6% of theparticipants who completed the program.

While implementing these measures, we have been examining women’s presenteeism and work
engagement for years.

[Future initiatives]
An analysis of presenteeism factors indicates that risks related to obesity and eating habits can

In addition, Tokio Marine & Nichido set up a Mothers’ Room within its head office where many female

aggravate presenteeism. The fitness program for younger employees is thus expected to indirectly

employees are working. It is a space used by female employees for lactation or resting when they are

improve the presenteeism.

not feeling well because of a hormonal imbalance. It has been well received as a comfortable space,and it also fulfills the need to return to work early after giving childbirth.

◉ Other Health-Related Measures■Health Support for Women[Results]
According to a questionnaire survey of employees, 38.4% of our workforce and 57.5% of female[Applicable priority measures]

employees participated in and utilized our measures to support women’s health in fiscal 2022.

Measures to promote health; Measures to enhance health literacy

Furthermore, 65.3% of all participants said they appreciated the initiative.

[Details][Benefits]

In fiscal 2021, we named a series of measures the Mimosa Health Committee to provide stronger

We examined the correlation between the status of women’s health measures and our ultimate target

support for women’s health and continue to promote a variety of policies throughout the year.

indices relating to health. The results revealed that the more measures they work on, the more they
influence work engagement and presenteeism (Figure 2). Enhancing, communicating about and2023 Sustainability Report113Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

promoting the understanding of the measures supporting women’s health is thus expected to lead to

accident or disaster. For secondary prevention, in addition to setting up a mental health counseling

improvements in terms of work engagement and presenteeism.

desk, for new employees, in particular, we promote care initiatives not only in the workplace but
have also established a system to check their health condition periodically and provide early support

Work engagement score
2.90

using a multifaceted approach involving public health nurses, human resources personnel and otherrelevant parties.

2.83

2.80

2.68

2.70
2.60
2.50

2.62

2.61

Our tertiary prevention efforts include initiatives that encourage adapting to the workplace and thework duties in order to seamlessly support employees returning to work. Analyses have revealed that
deteriorations in mental health are connected to absenteeism and we will continue to implement the

1～2

3～4

5～6

Total

Figure 2: Relationship between the number of women’s health measures
and work engagement
The more employees participate in and utilize the measures supporting women’s
health, the more work engagement increases.

■Mental Healthcare

plan-do-check-act (PDCA) cycle and help employees work with enthusiasm, particularly changes inlifestyles and workstyles due to the prolonged COVID-19 pandemic.
■Creating a Comfortable Workplace Environment[Applicable priority measures]
Measures to realize a better working life

[Applicable priority measures]
Measures to realize a better working life

[Details]
Tokio Marine Group is not only satisfying various standards stipulated under laws and regulations[Details]

related to the workplace environment but also promoting the creation of a comfortable workplace

Each Tokio Marine Group company actively promotes mental health measures as we recognize theenvironment that takes into consideration lighting, noise, ventilation, temperature, humidity andimportance of pursuing the maintenance and improvement of employees’ mental health in terms

other ergonomic aspects. At the same time, we are working to prevent health problems causedof corporate management. Tokio Marine & Nichido has established the Basic Policy on Mental

by sedentary work by installing stand-up meeting spaces and other office facilities to increase the

Health Measures. Under this policy, supervisors at respective workplaces and industrial healthamount of physical activity and encouraging employees to have a break standing up.

staff collaborate to proactively implement various measures. These include initiatives to maintainsound mental health (primary prevention), measures to encourage early detection and treatment

More specifically, we enable employees to choose when and where to work, facilitate active(secondary prevention) as well as measures to care for employees with mental health issues (tertiarycommunication in workplaces and implement the “Discovery Time” initiative involving all the branch

prevention). Since 2012, the company has also been making initiatives to improve work engagement,

offices.

which is considered a primordial prevention measure for mental illnesses.
We are striving to find out how various changes accompanying COVID-19 has been mentally andSpecific initiatives for primary prevention include using stress checks to promote self-care andphysically impacting employees at Group companies both in and outside Japan as well as how they

analyze issues at an organizational level in order to maintain a good workplace environment. We

are trying to alleviate the effects while considering the appropriate application of best practices athave also been proactively promoting mindfulness. In addition, for employees working in the claims

each Group company. We will appropriately respond to identified issues and consider applying good

service departments, we have also launched a mind care program to enable them to always maintainpractices to other Group companies.

good mental health conditions as professionals when facing customers who have encountered an

Sustainability Performance Data (Percentage of employees who received health checks, industrial accidents, etc.)
2023 Sustainability Report114Basics

Details

Environmental
Initiatives◉ Evaluation and Improvement of Health and Productivity Management Initiatives(PDCA)
While discussing with management the analysis results of various health-related data, including
the results of health checkups, stress checks and employee questionnaires, Tokio Marine & Nichido
defines key performance indicators (KPIs) for its entire health and productivity management

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Datawith the amount of discretion employees have in their work, their aptitude and job satisfaction inparticular. Going forward, we will continue to work to involve more employees in the “Get Healthier”
Initiative, supporting women’s health and other related efforts while also reviewing the effectivenessof other health measures expected to facilitate improvements in presenteeism. In this way, we seek
to increase the effectiveness of our health-related measures.

initiatives (e.g., improvement of presenteeism), intermediary KPIs (e.g., rate of anomalies in healthcheckups) and indicators for awareness and behavior changes (e.g., improvement in lifestyle
habits and rates of employees receiving health checkups and other examinations) linked to these

65.0

64.0

Male

61.6

intermediary KPIs and respective targets.
60.0

59.6

All
employees

The company monitors the trends of KPIs for individual measures, verifies the effectiveness of eachFemalemeasure and works to improve while implementing the PDCA cycle. The company also implements
a PDCA cycle for comprehensive health and productivity management and manages occupationalsafety and health management by continuously analyzing the correlation between the KPIs forcomprehensive health and productivity management and the results of stress checks, reviewing theconditions by employee attribute (gender, age, department, position, geographical area, etc.) andchecking if there are health issues for which new measures should be considered.
Toward the realization of Tokio Marine Group’s Health and Productivity Management Vision, which
is a framework for evaluating its initiatives to enhance its corporate value and grow sustainably, thecompany also verifies the impact on external evaluations on a continuous basis.
<Example Verification Results for KPIs for Entire Health and Productivity Management initiatives>
Based on data about respondents from the stress checks all employees undergo, we measurepresenteeism, absenteeism, work engagement and the organization’s vibrancy and analyze factorsthat influence each.
[Presenteeism]
Company-wide, presenteeism has improved for the three consecutive years from fiscal 2019 to 2022
(Figure 3). Since it is well-known that improvements in presenteeism are related to maintaining andimproving physical and mental health and improving work conditions, we are implementing various
measures such as the “Get Healthier” Initiative, supporting women’s health and measures for mental
health. The analysis of the correlation with the results of the stress checks identified relationships

55.0

FY2018（16,192）

65.0

FY2019（16,287）

FY2020（16,515）

FY2021（16,218）

FY2022（15,901）

64.0 of* Figures in parentheses indicate the number
employees included in the analysis.

Figure 3: Change
in presenteeism over time
Male
2.00%

61.6
1.83%

[Absenteeism]

60.0 All
employees
FemaleAll
Female1.00% employees
Male

1.50%
59.6(percentage
The analysis of the relationships with the results of stress checks relating to absenteeismof employees who take one or more days off work annually) found absenteeism1.09%
is correlated tophysical complaints and job satisfaction. We will stay committed to maintaining and promoting
55.0

physical and mentalFY2018
health. We willFY2019
also stay focusedon building FY2021
workplaces wherefemale employees
FY2020
FY2022（16,192）（16,287）（16,515）（16,218）（15,901）

FY2018（16,287）

FY2019（16,515）

FY2020（16,218）

FY2021（15,901）

can work longterm as women’s absenteeism is increasing more than that of men (Figure 4).
0.00%（16,192）

2.00%

1.83%

3.20

1.50%

FemaleAll
employees
1.00% Male
Male

2.70

1.09%

2.84

2.66

All
employees
Female0.00%
2.20

FY2018（16,287）

FY2019（16,515）

FY2020（16,218）

FY2021（15,901）

FY2018FY2019（16,515）

FY2020Figures in parentheses（15,901）
indicate the number of（16,218）

FY2021

FY2022

3.20

3.10
2.70

Male
All

2.51

（16,192）（16,192）（16,287）
Figure 4: Change
in absenteeism
over time

3.20

FY2022

FY2022

employees included in the analysis.

2023 Sustainability Report
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115

59.6

employees

BasicsFemale
55.0

FY2018（16,192）

Environmental
Initiatives

Details
FY2019（16,287）

FY2020（16,515）

FY2021（16,218）

SocialInitiatives

FY20222.00%

1.50%physical andthat the improvement of work engagement is related to maintaining and promoting
FemaleAll
employeesMalemental health and improving work conditions. The analysis of the relationships withthe results of
1.09%

engagement. We will conduct a more in-depth analysis of the factors that may influence changes in
0.00%

this index while working
on the developmentof effective
measures.
FY2018FY2019FY2020
FY2021（16,192）（16,287）（16,515）（16,218）

FY2022（15,901）

3.20

2.84

2.70

2.66

All
employees

2.51

Female2.20

FY2018（16,192）

FY2019（16,287）

FY2020（16,515）

FY2021（16,218）

3.20

2.84

2.66

All
employees

2.51

for the health2.20 of female employees and other health initiatives as we continue to monitor the
FY2018FY2019FY2020of indices. FY2021
effectiveness of these
initiatives on
the improvement（16,192）（16,287）（16,515）（16,218）

FY2022（15,901）

3.20
3.10
3.00

2.80

3.03

Male

2.96

All
employees

2.90

FemaleFY2018（16,192）

FY2019（16,287）

FY2020（16,515）

Figure 6: Change in the organization’s vibrancy over time

FY2021（16,218）

FY2022（15,901）

Figures in parentheses indicate the number of
employees included in the analysis.

FY2022■Other Related Indexes
Sustainability Performance Data Health (Management and Occupational Health and Safety)

3.10

3.03

[The Organization’s
Vibrancy Level]
Male
3.00

Organization’s vibrancy is an index that Tokio Marine & Nichido began monitoring infiscal 2016 as a
2.96
Allemployees

2.90 and productivity management. It is set as the ultimate target index 2.90
KPI for healthfor measuring an
Femaleorganization’s health, and the rate for both men and women from fiscal 2020 to 2022 has remained
2.80

Sustainability
Performance Data

（15,901）

Figures in parentheses indicate the number of
employees included in the analysis.

Figure 5: Change in work engagement over timeGovernanceInitiatives（15,901）

workplace, we will remain committed to the “Get Healthier” Initiative, mental healthcare, support

2.90
Male

（16,218）

Female individuals’ health and facilitate development of better relationships in the
In order to promote

the stress checks shows a correlation between job satisfaction, aptitudes and the degree of support
from superiors. Improvements regarding these aspects can be expected to help improve work

（16,515）

Male

2.70

1.83%
Tokio Marine & Nichido’s work engagement remains at a favorable level (Figure5). It is known（16,287）

3.20（15,901）[Work engagement]

1.00%（16,192）

stable (Figure 6).

FY2018（16,192）

FY2019（16,287）

FY2020（16,515）

FY2021（16,218）

FY2022（15,901）■Example Verification Results for External Evaluation• Evaluating the impact of career choice popularity rankings on recruitment (Results of verification:
High rankings have been maintained in company popularity sur veys among job-seeking
undergraduates conducted by Mynavi Corporation and Nikkei Inc. since being selected for the firsttime as a Health & Productivity Stock.)• I dentifying changes in the number of corporate customers to which Tokio Marine Group has

Analysis of its relationship with the results of stress checks showed relationships with interpersonal

provided support in health and productivity management (Results of verification: There has beenstress and other factors in workplace environments. In addition, connections with work conditions

an increase in the number of corporate customers being recognized under the Certified Healthwere found, such as the degree of discretion employees have in their work and aptitude. Since& Productivity Management Outstanding Organizations Recognition Program sponsored by theorganization’s vibrancy is strongly correlated with work engagement, another KPI, improving these

Ministry of Economy, Trade and Industry (METI).)

two indexes has the potential to generate synergy.

Initiatives to Spread Health and Productivity Management throughout Society (Supporting Customers’ Healthand Productivity Management)
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Health issues change constantly in line with changes in society, companies and the workplace

Partners Kyushu, Tokio Marine & Nichido Anshin Consulting, Tokio Marine & Nichido Auto Support

environment. As more attention is being paid to human asset management, we will recommit

Center, Tokio Marine & Nichido Finance, MMC Insurance Services, Nisshin Fire Insurance Service andourselves to actively investing in health as a company that prioritizes the health of our employees

Nisshinfire Information System. Of these companies, kio Marine & Nichido Partners Tohoku, Tokioand their families. In recent years, in response to the promotion of diversity and inclusion, we have

Marine & Nichido Partners Kansai, Tokio Marine & Nichido Partners TOKIO and Nisshin Fire Insurance

been providing finely tuned support to health-related issues specific to women by leveraging ourService were certified as “Bright 500” companies.

workplace-based industrial health system.
Initiatives to ensure the physical and mental health of employees and their families, enhance healthIn the future as well, we will anticipate an impact of these changes on employee health and support

literacy and voluntarily and continuously maintain health are becoming increasingly important aswork styles with higher productivity from the health aspect by preventing health issues fromthey form the foundation of employee productivity and enable Tokio Marine Group to resolve issues

becoming prevalent.

for customers and local communities. We will use this selection as motivation to work to enhance thehealth of employees, improve the level of occupational safety and health as well as further expand■ Selected as Health & Productivity Stock and Recognized under METI’s Certified Health &and develop health and productivity management.

Productivity Management Outstanding Organizations Recognition Program
As a result of these initiatives, Tokio Marine Holdings was selected as a “2023 Health & Productivity
Stock” co-sponsored by METI and the Tokyo Stock Exchange for the eighth consecutive year since2016 for its outstanding health and productivity management.
At the same time, many Tokio Marine Group companies were recognized under METI’s 2023 CertifiedHealth & Productivity Management Outstanding Organizations Recognition Program (large enterprise
category). Tokio Marine Holdings, Tokio Marine & Nichido and Tokio Marine & Nichido Life wereselected for the seventh consecutive year; Tokio Marine & Nichido Medical Service and Tokio Marine& Nichido Systems for the sixth consecutive year; Tokio Marine dR for the fifth consecutive year;
Nisshin Fire & Marine Insurance, Tokio Marine Assistance and Tokio Marine & Nichido Outsourcing
Management for the fourth consecutive year; Tokio Marine Asset Management, Tokio Marine Nichido
Better Life Service and Tokio Marine & Nichido ANSHIN 110 for the third time; and Tokio Marine& Nichido Communications for the second time. Of these, Tokio Marine Holdings, Tokio Marine &Nichido, Tokio Marine & Nichido Life, Tokio Marine & Nichido Medical Service and Tokio Marine dR
were in the top 500 group and certified as “White 500” companies.
In the small to medium-sized enterprise category, the program recognized E. design Insurance, Tokio
Marine Millea SAST Insurance, Tokio Marine International Assistance, Tokio Marine & Nichido Partners
Hokkaido, Tokio Marine & Nichido Partners Tohoku, Tokio Marine & Nichido Partners East, Tokio
Marine & Nichido Partners TOKIO, Tokio Marine & Nichido Partners Tokai Hokuriku, Tokio Marine &Nichido Partners Kansai, Tokio Marine & Nichido Partners Chugoku Shikoku, Tokio Marine & Nichido2023 Sustainability Report117Basics

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6.5.3 Initiatives to Spread Health and Productivity

Management throughout Society
Tokio Marine Group is committed to its health and productivity management. Leveraging theexpertise cultivated through our initiatives, we also support companies working to improve healthand productivity management and contribute to the widespread embrace of health and productivity
management in society. For example, we have organized health and productivity management
seminars in various locations, engaged in awareness-raising activities in cooperation with local
governments, chambers of commerce and other organizations and provided information through oursales representatives. In the Responsible Procurement Guidelines and the Partnership Declaration wecreated together with business partners, we have declared our support for health and productivity
management of our business partners as part of our initiatives spanning the entire value chain. In
this way, we consider the safety, health and living conditions of the workers of our business partners
and seek to secure vibrant work environments and promote the health of workers.

◉ Supporting Customers’ Health and Productivity Management
As Japan’s labor force shrinks, managing employee health and creating a good working environment
have become important management issues in order to ensure sustainable corporate growth. Tokio
Marine Group has formulated a philosophy and policy with employee health positioned as a core
theme for management, and related issues are being addressed.
We were selected as a “Health & Productivity Stock” for the eighth consecutive year in recognition ofthese initiatives. We support the promotion of corporate health and productivity through a range ofservices in order to deliver the know-how we have gained from these initiatives to customers.
In the Tokio Marine Group Wellness Charter, we declare that we will contribute to the resolutionof social issues and realization of a healthier and more prosperous future by supporting healthpromotion initiatives of our customers, communities and society as a whole.

SocialInitiatives

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Performance Data

<Initiatives of Tokio Marine & Nichido>
Tokio Marine & Nichido works to raise awareness for health and productivity management andsupports relevant initiatives of local companies by issuing booklets compiling example initiativesof companies engaging in health and productivity management, hosting related seminars acrossJapan and cooperating with local governments, chambers of commerce and other organizations.
The company also provides support to companies seeking to obtain certification as a Health &Productivity Management Organization. The number of companies we support has increased
year after year. In fiscal 2022, we provided support to approximately 2,000 corporate customers
and, consequently, many of our corporate customers and agents have successfully received thecertification.
Tokio Marine & Nichido also supports employee health management at its corporate customers
through various initiatives, including using internal health improvement events like the Get HealthierInitiative Campaign Tools, offering informational materials such as its Health Improvement Bulletins
and incorporating incidental services into insurance products.
<Initiatives of Tokio Marine & Nichido Medical Service (TMS)>TMS has doctors, nurses and licensed psychologists in-house and carries out business in the medical
and health fields. As a total healthcare consulting company, TMS offers health promotion measures
to increase health knowledge of corporate customers’ employees and encourage their behavior
change in addition to a 24/7 telephone health consultation service, a mental health support service,industrial health-related services to provide services across Japan that help corporate customers
promote health and productivity management.
<Initiatives of Tokio Marine dR (TdR)>
In enforcing health and productivity management more effectively within a company, it is crucial thatthe company and its health insurance association make collaborative initiatives to promote healthmeasures while appropriately capturing employees’ health issues.
TdR analyzes various data held by companies and health insurance associations, including healthcheckup results, prescription data and health measure outcomes. The company then performs
quantitative evaluation* of the relationship between the data and medical expenses or healthinhibiting factors to develop highly effective health promotion measures. By doing so, TdR supports

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the reduction of health-related risks and improvement of productivity (such as lower presenteeism).
TdR also provides support for the establishment of various corporate systems essential for promoting
health and productivity management and for implementation of health promotion measures as wellSocialInitiatives

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Performance Data

6.6 C
 ontributing to the Creation ofa Safe and Secure Society

as support for the introduction and promotion of human asset management systems to develop
human resources, foster organization, increase employee motivation and raise engagement.
* Using insight and knowledge gained through an ongoing joint research project since 2014 with the Healthcare Data Science
Research Unit of the Institute for Future Initiatives (formerly the Policy Alternatives Research Institute), The University of Tokyo

6.6.1 B asic Approach to the Creation of a Safe and Secure

Society
Tokio Marine Group provides products and services that anticipate changes in the social environment◉ Support for Mental Health Management

or customer needs by utilizing solutions offered by respective Group companies, including insurance,
thereby contributing to the creation of a safe and secure society.

Tokio Marine & Nichido Medical Service offers the Employee Assistance Program (EAP) to support
companies in their management of mental health. Aside from conducting stress tests as required

Tokio Marine & Nichido Life supports customers’ healthy and enriching lives by working to resolve

under the Industrial Safety and Health Act, EAP has a comprehensive menu of services provided

social issues in an era of the 100-year life.

by a team of experts including psychiatrists, clinical psychotherapists and personnel and laborconsultants. These services range from follow-ups for employees based on the results of employee

In addition, the entire Tokio Marine Group engages in a variety of activities as a member of society

stress checks and support for improvement activities for individual workplace environments toand respective local communities in order to promote social and economic inclusion of all people.

providing supportive care during a leave of absence or when returning to work and formulating

These include activities to raise awareness of cancer and other diseases, spread knowledge aboutmeasures to prevent recurrence.

nursing care and support recovery of disaster-affected areas.

EAP is now being used by more than 700,000 employees of corporations. Through the program, the6.6.2 B uilding a Society Based on Health and Longevity

company will continue to help workers remain mentally healthy and enhance work engagement.
Tokio Marine & Nichido Medical Service TMS NAVIGATOR (in Japanese)■Tokio Marine & Nichido Life’s Initiatives for Building a Society Based on Health and Longevity• Initiative of Hokenbito (True Insurance Professionals) Activities: Resolving Social Issues in an
Era of the 100-Year Life
Since its founding, Tokio Marine & Nichido Life has sought to protect as many customers as
possible. Under the three initiatives called the “Movement to Protect Customers from Cancer,” “Life
Insurance Revolution to Protect One’s Living” and “Life Insurance Revolution Nextage,” the company
has engaged in activities that focus on “learning,” “conveying” and “assisting.” In October 2019, thecompany put a collective name, Hokenbito Activities, to its ongoing initiatives. Specifically, these
activities include stepping up efforts to protect customers against social issues that emerge andchange with the times, including the need to lengthen “a natural life,” “a healthy life” and “an asset life”
in the current era of the 100-year life.

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Hokenbito Activities

Hokenbito Activities = Learning, Conveying and Assisting
Resolving Social Issues in an Era of the 100-Year Life
Significant changes involving a declining and aging population have driven us into an era of the
100-year life with an unprecedentedly aging society. To live energetically and by one’s own values
in such an era, it is essential to lengthen the following three “lives.” Tokio Marine & Nichido Life
continues to protect customers by providing value that supports these lives.

• Launch of New Riders for Medical Kit YellAs we enter an era of the 100-year life, the extension of the healthy life spans of senior citizens has
become a social issue. In response, in August 2020 Tokio Marine & Nichido Life launched Medical
Kit Yell, a medical insurance product with relaxed underwriting criteria, for customers with healthconcerns or chronic illnesses. Medical Kit Yell addresses diverse customer needs by offering various
types of riders. The company has added three new riders to respond to an even broader range ofcustomer needs.

Customers

Healthy Life

Natural Life

(Average Longevity)

Asset Life

❶ Rider for Specific Cancer Treatments (with relaxed underwriting criteria)
In response to the ongoing development of advanced cancer treatment technologies, this rider
provides coverage of up to 100 million yen in total for customers receiving specific treatments,
including those they receive at their own expense.

Tokio Marine & Nichido Life and its agents/consignees make full efforts to protect
customers not only by providing death coverage, the basic component of life
insurance, to prepare for an emergency but also by delivering information andproducts needed in an era of the 100-year life.

❷ Female Disease Benefit (with relaxed underwriting criteria)
This rider provides coverage for hospitalization for diseases specific to women and breastreconstruction surgery received after breast cancer treatment.

■ Tokio Marine & Nichido Life’s Products to Support a Society based on Health and Longevity❸ Lump-Sum Payment Endorsement for Hospitalization (with relaxed underwriting criteria)• Launch of Anshin Cancer Treatment Insurance and Revision of Cancer Diagnosis Insurance R

A generous lump-sum payment is made for short-term hospitalization, including day cases, as

On February 2, 2022, Tokio Marine & Nichido Life launched Anshin Cancer Treatment Insurance tohospitalization periods have been getting shorter.

respond to the latest environment surrounding cancer treatment. To customers receiving the threemajor cancer treatments (surgery, radiotherapy and anticancer drug treatment) and cancer pain relief•L aunch of Market Link Protect, a New Variable Insurance Product (Fixed-Term) with a Rider That

treatment, this product pays a benefit based on the duration of treatment, thus enabling them to

Exempts Customers with Specific Diseases from Paying Insurance Premiums

make rational preparation for treatment expenses.

With the advent of a society with greater longevity, well-planned asset building for spending a
comfortable life in retirement has become a social issue. To address this issue, in August 2017 Tokio

A rider for specific cancer treatments is also available to provide coverage of up to 100 million yen

Marine & Nichido Life launched Market Link, a variable insurance product with premiums paid infor receiving expensive medical treatment at their own expense so that customers can concentrateinstallments (monthly or annual payments). On August 1, 2022, the company launched Market Link

on treatment with peace of mind. Further, Tokio Marine & Nichido Life has relaxed the underwriting

Protect, a new plan featuring a rider added to Market Link that exempts customers with specificcriteria for customers who have suffered from cancer before. At the same time, the company has

diseases from paying premiums. It allows customers to continue building assets as initially planned

added to Cancer Diagnosis Insurance R an option that exempts customers from paying insurance

even if they suffer from cancer or other serious diseases and face an increase in treatment expenses, apremiums in the future if they are diagnosed with a malignant neoplasm. The company has also

decline in income or other problems.

introduced a new service that supports the early detection of cancer to help protect customers from2023 Sustainability Report120Basics

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 aunch of Anshin Treatment Support Insurance and Anshin Treatment Support Insurance R

of seeking emergency medical care, while receiving instructions on the first aid best suited to the

As we enter the era of the 100-year life, the need to stay healthy and active is growing among elderly

symptoms.

customers in particular.

Medical Assist (in Japanese)

To meet their needs, we launched new health insurance products on August 2, 2023, including Anshin• “Medical Note for Tokio Marine Group” Online Service

Treatment Support Insurance. It extensively covers eight lifestyle-related diseases that can easily“Medical Note for Tokio Marine Group” is an online service that allows customers to easily, directly

necessitate long-term treatment, from early treatment, such as outpatient care, to the long-term

and individually consult and ask questions of healthcare professionals, mainly medical specialists,

treatment of severe disease. This product is also available as an R-type plan, which refunds unusedfrom their personal computers and smartphones. It offers a menu that includes an online medical

insurance premiums. In addition, four new services are provided along with coverage to provide

consultation service, a service to make a reservation for customers to obtain a second opinion atanshin (peace of mind) that cannot be provided by economic coverage alone and to comprehensively

a hospital they choose from the list and a service to make an appointment with a listed doctor or

support customers’ health.

hospital of their choice. In addition, in February 2022, we began to provide a service that allows
customers to make a reservation for more detailed cancer tests when their result of preliminary■ Enhancement of Accompanying Services to Insurance Products

cancer screening by the local government or other medical institutions come back as “Suspected” orTokio Marine Group uses ancillary insurance product services to help customers get healthier and“Needing detailed test” and to select a hospital from among those that provide specialized medical

support appropriate care for diseases and injuries.

services. It is available free of charge for insurees of Tokio Marine & Nichido Life (excluding those ofgroup insurance).

• Medical Assist: Providing 24/7 Telephone Support for Customers Seeking Advice on Illness or
Injury• “Calomama Plus” to Support Customers’ Health Promotion

Medical Assist is a free health and healthcare consultation service available to policyholders andTo support customers’ health management and the prevention of disease aggravation, we haveinsurees of Tokio Marine & Nichido and Tokio Marine & Nichido Life and their families. The service isintroduced “Calomama Plus,” a health guidance app developed by Link & Communication Inc., inprovided via telephone 24/7 and gives advice on matters such as everyday physical problems andwhich an AI managerial dietician supports users’ everyday life in terms of food, exercise and sleep.

the handling of emergencies such as sudden illness or injury. It also provides information about

The app utilizes an original algorithm based on nutrition management data of over 100,000 people

hospitals, clinics and other medical facilities that are open on holidays or late at night. Furthermore,

and provides the most appropriate advice in real time from among more than 200 million patterns.

specialists from more than 30 areas of medical care are available for consultation by appointment

A fee-based service used for employee health management by more than 6,000 companies, the app

and the service also arranges the transfer and transport of patients to other hospitals on behalf of theis available free of charge to insurees of Tokio Marine & Nichido Life’s medical insurance with relaxedpatient.

underwriting criteria, pension-type nursing care insurance and whole life insurance for longevity.
The app enables customers to choose a program according to their individual objectives and work to

Nurses with a wealth of clinical experience talk with callers first and, if necessary, cooperate withpromote their health or prevent disease aggravation readily and comfortably.

emergency medical specialists playing leading roles at emergency medical institutions, departmental
specialists on the level of university professors or associate professors, pharmacists, national• Services for Receiving Tests for Detecting Cancer Risk at Preferential Prices

registered dietitians and other specialists. Nurses initially respond to customer inquiries and thenAvailable since February 2022 to detect ovarian cancer, these tests provided by Craif Inc. use urine todepending on the situation, emergency medical specialists and other medical staff address the issue

detect cancer risk, with a phased plan for other cancers. These services are available for policyholders

as necessary. Using the example of a consultation regarding a child stung by a bee, first the caller isof cancer insurance of Tokio Marine & Nichido Life, as well as insurees and their families. They can

asked about the symptoms the child is showing. Then, the caller is advised regarding the necessity

receive the tests at preferential prices at partner medical institutions.
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• Service for Supporting the Creation of Family Trusts■Launch of Mirairo Cancer Insurance That Uses Digital Disability Certificates

This service, provided by famitra Inc., is aimed at supporting the creation of family trusts for

Tokio Marine & Nichido has developed and launched Mirairo Cancer Insurance, which is intended forpreventing assets from being frozen due to the onset of dementia. The company provides

people with the Mirairo ID* digital disability certificate and their families. This product was developed

comprehensive support, ranging from explanations and suggestions around family trusts to thejointly with Mirairo Inc., which operates a business providing services related to universal design,

creation of a trust contract. After the trust has been created, the company continues to support theand Zenchikyosai Inc., a company specialized in insurance for people with disabilities. The insurance

families in operating the trust as a trust supervisor. This service is available at a preferential price forfeatures a simple health notification process and allows families and other people to conduct thepolicyholders of pension-type nursing care insurance and whole life insurance for longevity of Tokio

enrollment procedures and health conditions notification process by proxy, making it easier for

Marine & Nichido Life, as well as insurees and their families.

people with disabilities to enroll.

• Anshin Healthcare (Service for Helping Customers Get Healthier)

By offering products like this, Tokio Marine & Nichido strives to resolve social issues and contribute to

The service consists of different menus to promote customers’ health and detect illnesses at an early

improving the quality of life of people with disabilities and others. In this way, the company aims tostage using a dedicated web app (Anshin Healthcare). The following four new services support thebuild a symbiotic society where anyone can live safely, comfortably and with a sense of security andextension of the healthy life spans (Medical Note for Tokio Marine Group and Calomama Plus, which

express themselves in a diverse way.

are both mentioned above, and other services are available on the app).

* A digital disability certificate released by Mirairo with the goal of creating a new future where people with disabilities will findit easy to go out and business operators will be able to respond to them smoothly❶ Health self-check
Jointly developed by Value HR Co., Ltd. and Tokio Marine Group companies, this service uses analgorithm to predict the risk of diabetes, hypertension, ischemic heart diseases and cerebrovasculardiseases by entering the results of health checkups.
❷ Checkup planThis is the first service in Japan that proposes a recommended cancer screening plan (e.g., types oftests, frequency of screening) based on a simple online questionnaire. The service is provided via
Whitehealthcare Inc.
❸ Online checkup result consultation
This service allows users to seek advice online from public health nurses and other specialists about■Supporting the Provision of Japanese-Language Medical Services in the United States

their questions and concerns regarding the results of their checkups. It is provided via Tokio Marine &The Japanese Medical Practice outpatient clinic operated by Mount Sinai Health System in New York

Nichido Medical Service Co., Ltd.

City with donations from Tokio Marine & Nichido has been providing medical services in Japanesesince 1990. This clinic, which just celebrated its 30th anniversary, plays a major role in providing❹ Anshin Preventive Medicine Channel

medical and health checkup services to the local Japanese community. Even under the COVID-19

The service enables users to view recommended videos from among a wealth of video content

pandemic, it continued to provide medical services by also utilizing online means and played ansupervised by Dr. Yuma Mori from Preventive Room Co., Ltd. on risks and the prevention of lifestyle-additional role of giving vaccinations. The clinic is highly regarded by the Japanese Consulate Generalrelated diseases based on the results of checkups.

in New York as a medical institution providing services to Japanese people.
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Initiatives■Development of New Products and Services by the Health Promotion Consortium
The Tokio Marine & Nichido Fire Insurance Company (China) Limited (TMNCH) formed a healthpromotion 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 Japanese and Chinese companies. It is also aimed at contributing to
the resolution of social issues in China, such as the Healthy China 2030 national policy and the aging
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 and productivity management]
Visualizing health data and providing health promotion services to employees of Japanese-affiliatedcompanies in accordance with their health condition

SocialInitiatives

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Performance Data

6.6.3 Response to a Mobility Society
Tokio Marine Group assists in handling accidents and safe driving utilizing telematics and Internet ofThings (IoT) technology. For individual customers, the Group also promotes insurance products andservices that facilitate traffic safety, including One Day Auto Insurance.
■Introduction of Drive Agent Personal
For the first time as a major insurance company in Japan, Tokio Marine & Nichido started providing
Drive Agent Personal, an advanced service for individual customers utilizing its original driving
recorder, as a rider for auto insurance in April 2017. The company lends its driving recorder to eachpolicyholder and provides a set of leading-edge services as shown below.
❶ Advanced accident response service
Upon detecting a serious collision, the recorder reports the incident automatically to a partnercompany, allowing the customer to have a voice call with an operator and eliminating his or her
anxieties immediately following the accident. The operator also calls an ambulance depending on thesituation. Moreover, the recorder automatically sends a video of an accident covering before and after
the detection of the collision to Tokio Marine & Nichido and releases, when appropriate, the customer
from the burden of explaining how the accident has occurred. This video can also be used for resolutionof the accident case.

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❷ Accident prevention support service

To mitigate damage caused by traffic accidents, Tokio Marine & Nichido is also working to build

When the drive recorder detects sudden operations during daily driving, it alerts the driver in reala system to request the dispatch of an emergency medical helicopter when an accident occurs,time. It has been confirmed that this service is highly effective in not only providing a sense ofusing the data from a driving recorder. A trial operation of the system is already underway in Chiba

security when an accident occurs but also preventing an accident from occurring in the first place,

Prefecture. Going forward, the trial will expand to other prefectures and hospitals using physician-as evidenced by the lower probability in the occurrence of an accident compared with customers

staffed emergency vehicles. After assessing its benefits, necessary improvements will be added in

who have not signed the rider as well as the reduction in the frequency of dangerous driving such as

pursuit of the full-scale operation of the system.

sudden braking.

* Number of cars insured and equipped with a dashboard camera Tokio Marine & Nichido lends to the insured<Benefits of dashboard camera-equipped auto insurance>*1*2

Accident reduction

Shortening of period up to accident resolution

Reduced approx. 13%

Reduced approx. 15%■Drive Agent for Corporate Policyholders
We sell Drive Agent for corporate policyholders. The product not only includes the same featuresoffered by Drive Agent Personal but also provides a system to check safe driving and operational
management data on a cloud service. It allows both drivers and responsible managers to review daily*1 According to a survey conducted by Tokio Marine & Nichido in January 2023, comparing a drop in the number of accidents
per newly signed insurance policy for a driving recorder-equipped car versus the previous policy in the same period.
*2 According to a survey conducted by Tokio Marine & Nichido in October 2021 comparing how much the period from theoccurrence of an accident to the payment of insurance claim in an accident between cars where the percentage of fault
accrues to both parties was shortened with or without a subscription to a rider.

driving conditions from the same perspective and enables corporate customers to make companywide initiatives for safe driving.
■One Day Auto Insurance
Tokio Marine & Nichido provides One Day Auto Insurance (driver insurance available in the unit

Tokio Marine & Nichido delivers an even greater sense of security with the addition of a feature toof days), which can be purchased anytime via smartphone and at convenience stores. This auto

send an SOS signal when the driver suddenly falls ill or is harassed by a reckless driver. When such ainsurance product allows infrequent drivers using cars owned by their parents or friends to purchasetrouble occurs, the driver will receive appropriate advice from a partner security company by pressing

insurance at the reasonable cost of 800 yen a day (24 hours) forthe corresponding button four or more times in three seconds.

just the number of days needed. The product was launched in
January 2012 by Tokio Marine & Nichido as the first of its kind

❸ Safe driving diagnosis service

in the non-life insurance industry in Japan, and the cumulative

The recorder provides safe driving diagnosis reports, which are created by using Tokio Marine &number of subscriptions exceeded 10 million (as of January

Nichido’s original algorithm, based on each customer’s tendency toward reckless driving.

2022).

In recognition of these services as making great contributions to the safety and security of

Our One Day Auto Insurance received the Nikkei Veritas Award

consumers, Tokio Marine & Nichido received the ACAP Consumer-Oriented Activities Award from thefor Superiority at the Nikkei Superior Products & Services

Association of Consumer Affairs Professionals (ACAP) in February 2021. Additionally, as a new offeringAward 2011, an annual award organized by Nikkei Inc. tofrom April 2021, the company provides a driving recorder equipped with two built-in cameras, which
can film not just front views but also side and rear views. The number of cars insured * has steadily

recognize exceptional new products and services. In addition

increased and by combining individual and corporate contracts, it reached a cumulative total of one

at a reasonable price, with greater ease and when and where

million cars in March 2023.

needed, the product was highly acclaimed for its ability to help

to the novelty of enabling customers to buy auto insurance

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resolve one social issue of increasing traffic accidents involving uninsured drivers.

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■Using Technology to Prevent Accidents
Philadelphia Insurance Companies (PHLY) in the United States has been promoting their PHLYTRAC

Through this product, Tokio Marine & Nichido will continue to contribute to the reduction oftelematics program for policyholders with commercial auto coverage since 2016. Using a GPS

uninsured drivers involved in traffic accidents and ensure safety and security by providing products

tracking solution that installs in seconds, PHLYTRAC provides organizations with real-time updates

and services that are useful in people’s daily lives and business activities.

on driver behavior and fleet conditions. Organizations nationwide have significantly reduced driver

Tokio Marine & Nichido: One Day Auto Insurance (in Japanese)risks like speeding, hard braking, hard acceleration and more, all while reducing claims frequency bygreater than 20%. Currently there are more than 65,000 vehicles on the program, which represents■“Safe Drive With” for an Accident-Free Society
E.design Insurance is undertaking the “Safe Drive With” project using customers’ traffic safety data to
conduct analyses and research to realize an accident-free society.

over 20% of PHLY’s insured vehicles, translating to over 1.8 billion miles protected. In light of recent
technological innovations, policyholders can also choose an AI dashboard camera solution as an addon to the program.

For example, Moshikamo Map is a web service for parents and children to detect and visualize
road hazards on the map. It has obtained information about more than 8,000 hazards on schoolcommuting roads from about 90 municipalities all over Japan and uses its map to visualize over
58,000 hazards, including those reported by users and the National Police Agency’s open data* (as of
May 2023).
In collaboration with Eisai Co., Ltd., the company is also analyzing the relationship between brain
health and driving behavior by gathering data together with customers to reduce traffic accidents.
* National traffic accident data based on the National Police Agency’s open data, including traffic accident statistics(January 1–December 31, 2020)2023 Sustainability Report125Basics

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6.6.4 Responding to Technology Innovation
In the face of growing corporate social responsibility and cyber risks to companies, Tokio Marine

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to the creation of a safe and secure society by playing the role of backing up innovation of related
technologies in Japan.
Tokio Cyber Port (in Japanese)Group sells insurance products that offer comprehensive coverage for each risk and has launcheda portal site, “Tokio Cyber Port,” to disseminate information on cyber security. Using AI and othercutting-edge technologies, the Group also offers better insurance services to customers.
■Launching an Online Cyber Security Information Portal Site, “Tokio Cyber Port”
In recent years, it is becoming increasingly difficult to completely block cyberattacks, as work stylereforms and the widespread use of telecommuting have increased online business operations.
Cyberattacks targeting companies have also become highly advanced and sophisticated. In themeantime, increasing companies’ cyber security awareness and reinforcing their related structures
have become an urgent task.
Against this backdrop, Tokio Marine & Nichido launched “Tokio Cyber Port,” an online informationsite that compiles the latest information on cyber security measures, in January 2020. It provides
a broad range of the latest information and services related to cyber security, including the latest
news on cyberattacks and cyber security, columns by experts, free security services and a telephone
consultation service for security incidents. The aim is to familiarize companies with cyber security andencourage them to utilize “Tokio Cyber Port” for their cyber security measures.
Tokio Marine & Nichido was the first among leading non-life insurance companies in Japan todevelop Cyber Risk Insurance in 2015 to support many companies in the country’s cyber security
domain as an insurer forming a part of social infrastructure. The company will continue to contribute■S ecure and Comfortable Incident Settlement Process Utilizing an Optimal Mix of Human
Ability and Digitalization
Based on the concept of providing an optimal mix of human ability and digitalization,” Tokio Marine &Nichido has pushed forward with its utilization of digital technologies in its customer interfaces andoperational processes while using AI, satellite imagery and other new technologies in the handling ofaccidents. The company provides a reassuring and comfortable experiencethroughout the process up to the resolution of the accident using an AIbased accident reproduction system, smartphone-based insurance claim
procedures and other means to eliminate customers’ anxiety and stressabout the accident handling process and by combining real and digital
methods tailored to the customer’s wishes.
The process won the METI Minister’s Prize at the fourth Nihon Service Award, Japan’s first award
for commending innovative, excellent services hosted by the Japan Productivity Center’s Service
Productivity & Innovation for Growth.
For customers wishing to apply for insurance claims fully online, the use of various digital tools
in the incident settlement process allows them to complete the procedures by themselves using
their smartphone and other devices. For those who feel uneasy about such online procedures, ourpersonnel in charge of claims services and agencies are available to help them and provide a secureand comfortable experience until the settlement of an incident. With our personnel providing
services with a human touch, we seek to realize a “strikingly impressive” claims settlement service
through the best mix of people’s ability and digitalization.
DX special website (in Japanese)

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■Initiatives to Ensure Swift and Appropriate Claims Payments by Utilizing AI

has consequently led to more swift insurance claims payments to customers and appropriate levels

Tokio Marine Group is working to resolve a social issue of false insurance claims by utilizing AI andof premiums (for maintaining social trust and ensuring fairness). The solution has also generated

digital technology. Combating false claims has become an important issue in the entire non-life

many side benefits, such as deterring fraud by externally announcing the use of the system andinsurance industry from the perspectives of operating a sound and stable non-life insurance system,

incorporating lessons learned from the identified false claims into insurance underwriting rules.

maintaining trust in the insurance business and ensuring fairness. Methods of making false claims
are becoming increasingly complex and sophisticated in recent years, and a broad understanding

TMI collaborates with Shift’s data scientists on a daily basis to improve the accuracy of fraudof these methods and a high level of expertise are required to implement countermeasures. P.T.

detection, utilize external data and handle emerging fraud trends in the market. At the same time,

Asuransi Tokio Marine Indonesia (TMI) and Tokio Marine & Nichido are striving to increase the level

TMI discusses the introduction of fraud detection in cargo insurance and other insurance products.

of sophistication of their countermeasures by incorporating AI and digital technology, along withThrough these and other initiatives, TMI continues to be committed to realizing the Group’s coreenhancing the expertise of responsible personnel working in the departments tasked with insurance

mission, To Be a Good Company providing better insurance services to customers in Indonesia andclaims payments.

resolving social issues in the country.

• Solution Adopted by TMI• Solution Adopted by Tokio Marine & Nichido

In emerging countries in Asia and elsewhere, a rise in false insurance claims has become a social

Tokio Marine & Nichido adopted an AI-driven fraud detection system in its claims handling process

issue, posing a challenge for insurance companies. In response, in March 2020 TMI adopted an AI-

for auto insurance (developed by U.S.-based Metromile Inc.) and accident insurance (developed

driven fraud detection system of Shift Technology of France in its claims handling process for auto

in-house) in October 2021 and for fire insurance (developed by France-based Shift Technology) ininsurance.

August 2022.

The system gives a score (possibility of fraud) along with its rationale for each claim, allowing

More specifically, these systems extract certain elements from policy details, loss and injury

TMI’s fraud response team to concentrate on more suspicious cases. Through the solution, TMI hasreports and other relevant information, which could lead to fraud, and give a score for each case todetected and handled many more false claims that had been difficult to find in the conventional

quickly identify cases that require closer scrutiny. Previously, responsible personnel in the relevant

manual process (about 50 times more compared to before it was adopted). This significant result

departments had checked every case for its connection with false claims. The adopted solution,on the other hand, allows different and effective response to each case. It will lead to a further

Image 1

improvement in the quality of claims services as suspicious cases are handled more carefully while

Image 2even more considerate response is made to legitimate ones. The company is also proceeding with
the introduction of a system to allow customers to complete everything from incident reporting toreceipt of insurance claims at any time over the Internet, not just during business hours on weekdays,＋→by increasing AI’s accuracy of identifying legitimate cases eligible for early claims payments and bycombining it with other advanced technologies.
Tokio Marine & Nichido will continue to fuse AI and digital technology with people’s ability andendeavor to provide swift and comfortable claims services to customers.

Example of fraud detection in accident images: An analysis by AI indicated that images 1 and 2 were derived fromthe same image and that the front part in each image has been deliberately doctored to disguise as being repaired.

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6.6.5 Support for Small and Medium-Sized Enterprises

no one behind, Tokio Marine Group, in cooperation with its stakeholders, strives to understand theRegional small and medium-sized enterprises (SMEs), which form the foundation of the Japanesecircumstances. Through the development and provision of financial inclusion-related products

economy, are facing numerous business challenges. Tokio Marine Group supports the development

and services (including distribution channels and methods), we work to improve access to basicof SMEs by capturing changes in the risks surrounding them and developing and providing insurance

insurance products and financial services for people in difficult circumstances so that they can enjoy

products and services that help SMEs continue their businesses, take on new challenges and achieve

the benefits of these products and services. We support people in difficult circumstances and their

growth.

families by providing financial and insurance education and contribute to improving their standard

characteristics of countries and regions, their circumstances and the needs of people in difficultof living.
■Opening BUDDY+ Website to Provide Solutions Exclusively to SMEs
Tokio Marine & Nichido has opened BUDDY+, a website that provides SMEs with online services,

We also strive to promote understanding of sustainability issues, including financial inclusion, among

including the provision of information about and solutions to the diverse business challenges SMEs

management (through the Sustainability Committee, etc.), educate employees (through sustainability

face. Highly specialized contents, such as providing support for M&As for business succession andtraining, etc.) and develop mechanisms for handling complaints (through human rights due diligence

securing human resources as well as a subsidy and grant-in-aid diagnosis system, are available

initiatives, etc.).

regardless of whether users are policyholders or not.

      Financial Inclusion Products & Services      Financial Inclusion - Non-Financial Support■Development of Weather Insurance and Microinsurance Jointly with IFFCO-TOKIO
In 2001, Tokio Marine Group established IFFCO-TOKIO General Insurance Co., Ltd. (IFFCO-TOKIO), a
non-life insurance company, as a joint venture with Indian Farmers Fertiliser Cooperative Limited(IFFCO), which has a nationwide network of 38,000 member cooperatives, and began offering auto,
fire and other insurance in India.
From the start, the business tackled the issue of resolving uncertainty faced by farmers in India
through the mechanism of insurance and looked into the development of weather insurance andmicroinsurance (i.e., insurance available at low cost).
These products have become essential in stabilizing the lives of people in farming communities, withannual premiums written amounting to 10.0 billion to 20.0 billion rupees (approximately 16.0 billion
to 32.0 billion yen).

6.6.6 Responding to Poverty Issues

In 2001, the company, in collaboration with IFFCO, started sales in India’s rural communities of

As social issues such as poverty, widening inequality and discrimination become more serious, it isSankat Haran Bima Yojna, low-cost accident insurance available for 1 rupee (about 2 yen) per year

urgent to resolve these issues through financial inclusion initiatives. Based on the SDG goal of leaving

as an incidental to fertilizer. Since then, the company has released other microinsurance products,

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including Janta Suraksha Bima Yojna, property insurance available for 100 rupees (about 160 yen) per
year; and Mahila Suraksha Bima Yojna, accident insurance aimed at women in farming communities.

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Crop and weather insurance details
FY2022: GWP INR 13,837 million, Claims Paid INR 6,740 million
Crop and weather insurance sales (Premiums written; Unit: million rupees)
19,341

20,00018,833
15,41315,00013,837

12,552

10,00010,773
9,405

IFFCO-TOKIO headquarters

Accident insurance available as an attachment of
fertilizer sold in collaboration with IFFCOIFFCO-TOKIO offers Barish Bima Yojna/Mausam Bima Yojna, an index-based weather insurance
product that takes into account the impact on grain harvest yields in farming communities due

5,000

0

2,058
2012
-13

2,013 1,571
2013
-14

2014
-15

911
2015
-16

2016
-17

2017
-18

2018
-19

2019
-20

2020
-21

2021
-22

2022
-23

to unseasonable climate in the wet monsoon season (June to September) and the dry rabi season(October to April).

■Initiatives to Increase Prevalence of Medical Insurance for Low-Income Earners

Development of this revolutionary product leveraged IFFCO-TOKIO’s capabilities in market surveys

Rashtriya Swasthya Bima Yojna (RSBY ) is a medical insurance scheme for low-income earners

aimed at local farmers and Tokio Marine Group’s years of expertise in insurance underwriting

sponsored by the government of India. It was launched in 2008 in India through joint initiatives

accumulated in Japan to evaluate climate risks such as precipitation volume and temperature in allamong insurance companies, medical institutions and the government. Subscribers to RSBY only

areas of India. To gain communities’ understanding of the weather insurance mechanism and spreadneed to pay 30 rupees (about 48 yen) per household as a registration fee with coverage up to 30,000

its use, the company has been conducting briefings

rupees annually (about 48,000 yen) for a maximum of five persons per household in case medical

for farmers in every state in India on an ongoing

services are required for injury or illness.

basis together with banks, NGOs and other partners.
Currently, the company sells weather insurance,

IFFCO-TOKIO began selling RSBY in 2011 and launched add-on medical insurance in 2014 under Biju

mainly its own as well as other government-sponsored

Krushak Kalyan Yojana (BKKY), another insurance scheme for low-income families sponsored by a

products such as Pradhan Mantri Fasal Bima Yojana

state government. The company has delivered security to people with low incomes.

(RMFBY) and Weather Based Crop Insurance Scheme(WBCIS), to more than 4 million farming households

Under the Ayushman Bharat (National Health Protection Scheme) announced in 2018, the insurance

per year.

schemes for low-income families mentioned above have become available to more people withMembers of the Rural Marketing Team of IFFCOTOKIO and Rural Community Area Managers of
IFFCO (in front of IFFCO’s grain depot center)greatly expanded benefits. In addition, IFFCO-TOKIO started offering Ayushman Bharat - Sarbat Sehat
Bima Yojana (AB-SSBY), a medical insurance scheme for low-income families, in the state of Punjab
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Jan Arogya Yojana (AB-PMJAY ) SEHAT, an

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6.6.7 Social Contribution and Awareness-Raising Activities

insurance scheme for low-income households
in the state of Jammu and K ashmir. The

Tokio Marine Group Social Contribution Strategy

state governments subsidize all insurance
premiums, enabling them to receive medical

In order to accomplish our goal of protecting customers and society in times of need, Tokio Marine

treatments of up to roughly 800,000 yen perGroup will cooperate and work with our stakeholders and promote social contributions with theyear per family free of charge.

participation of all employees around the world.

These have become essential medical

Motivated employees work with sincerity and empathy, continue to find new ways to address

insurance schemes for people who previouslysocial issues and spread those mindsets and actions to the entire organization and Group. This in

could not receive sufficient medical services

Insurance soliciting

because of their economic situation.

turn fosters a corporate culture of resolving social issues as a natural course of action and creates a
positive cycle between solving social issues and facilitating corporate growth (enhancing corporate
value) that will contribute to achieving the SDGs.

■ Initiative to Support Low Incomes in the United States
The Tokio Marine North America Services (TMNAS) Finance Team has implemented an initiative tosupport low income households via the reduced tax burden with Philadelphia Insurance Companies(PHLY) and their long-time business partner Affordable Equity Partners (AEP).
The housing complexes developed by AEP and their partners are financed through the sale of the tax
credits to PHLY, and when completed are rented to low income members of the communities. PHLY
benefits via the reduced tax burden made possible by the tax credits purchased from AEP. So far,
PHLY has invested over US$2.78 million, which has gone toward the 2,500 units across six states in
the United States. The relationship is a “win-win-win” for PHLY, TMNAS and AEP and the 2,500 families
living in the beautiful new facilities.

Tokio Marine Group promotes social contribution activities to work alongside our stakeholders,
including future generations, on our four key sustainability issues of taking climate action, improving
disaster resilience, supporting people’s healthy and enriching lives, and promoting and supporting
D&I. We established the Group Sustainability Committee and the Social Contribution Subcommittee
to deliberate and review policies and targets for the Group’s social contribution activities, while theBoard of Directors of Tokio Marine Holdings considers and determines the policies and targets for thesocial contribution strategies.
Tokio Marine Group’s Code of Conduct will apply to all social contribution activities, donations andcollaborations.

Social Contribution Activities with the Participation of All Employees
Tokio Marine Group is implementing different social contribution activities around the world thatemphasize voluntary participation by employees and tie-ups and collaboration with NPOs and othergroups.
Each Group company strives to support the proactive involvement of employees in ongoing social
contribution activities in a number of ways, such as introducing social contribution activities in which
employees can participate and setting up leave systems for volunteer activities.
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In fiscal 2022, the total social contribution activity participation rate among domestic and overseas
Group employees (total number of participants in social contribution activities in relation to thenumber of employees) was 102.4%, indicating that on average each employee took part in one ormore social contribution activities.
Overview of Support Systems/Programs and Fiscal 2022 Results (Tokio Marine & Nichido)

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◉Medical and Nursing Care■ Supporting Companies’ Health and Productivity Management (Balancing Work with NursingCare) and Assisting in the Resolution of Management Issues for Care Service Providers
The rapidly aging society has given rise to a number of social issues. Among them are people quitting
their jobs to take care of elderly parents and the issue of presenteeism, almost synonymous with

Matching gift system

Volunteer leave /leave of absence system

A system in which the company makes a donation matching the amount voluntarily donatedby employees (6 cases totaling 529,230 yen)
A system to support employees for their volunteer time (used by 42 employees)• Volunteer leave
A system in which employees are permitted to take leave limited to 10 days per year toparticipate in volunteer activities that include relief initiatives in a disaster and support forsocial welfare institutions or groups relating to persons with disabilities, the elderly andchildren’s welfare facilities, etc.
• Volunteer leave of absence
A system in which employees are permitted to take leave for a period of over six months and up
to two years, in principle, to participate in a volunteer program recognized by the company,
particularly actions with a high degree of social contribution in a social welfare institute, etc.

Share Happiness ClubA donation program operated by employee volunteers
In fiscal 2022, a total of 1,970,910 yen donated by 938 employees was distributed to thefollowing organizations:• Watari Greenbelt Project• Childline Support Center Japan• Japan Deafblind Association• WaterAid Japan• Medecins Sans Frontieres Japan Association• Children Meet Artists• Usunova• Japan Environmental Action Network• Peace Boat Disaster Relief

Sustainability Months

Months for strengthening initiatives for proactively carrying out local community and social
contribution activities across the entire Company (October-November)• Online parasports seminar• Courses to foster support for dementia care
• Activities to protect and restore eelgrass beds
• Online seminar on “Protecting the Sea” by Fukuoka Field & Underwater Naturalists• Volunteer tour to restore the coastal forests of Tohoku Region• Seminar to introduce best practices for resolving social issues through businesslower labor productivity. As such, companies are required to help employees balance work andnursing care in the context of health and productivity initiatives. Care service providers that support
people in need of care and their families increasingly face the need to keep their business going byaddressing many different business issues, such as the labor shortage, staff training and business
continuity plans (BCPs) to be implemented during a critical event.
To solve these social issues, Tokio Marine Nichido Better Life Service supports many companies andcare service providers in their sustainable management by offering a variety of solutions leveraging
the expertise it has accumulated through the operation of its elderly care service business.
[Solutions for balancing work with caregiving]
Service to understand the actual caregiving situation; Seminars on balancing work with caregiving(for employees and for managers); Creating a handbook for balancing work with caregiving; Online
consultation service; Individual consultation by industrial care managers
Support for balancing work with caregiving (in Japanese)

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[Seminars for care service providers]extends beyond insurance payments to working to prevent cancer and providing mental support.

Risk management-related seminars (risk management system, dementia care, self-support care,

Accordingly, Tokio Marine & Nichido Life has launched the Movement to Protect Customers fromlearning from complaints, dietary independence and the prevention of accidental ingestion andCancer. The movement consists of the following three steps: (1) Getting to know cancer; (2) Talking

aspiration); human resource development-related seminars (staff training, complaint handling,

about cancer; and (3) Helping with cancer countermeasures.

interpersonal skill improvement and presentation skill improvement); BCP-related seminars (BCP for
nursing care and visiting care facilities); and the 7 Habits® Care seminar.
Seminars for care service providers (in Japanese)• Collaboration with Local Authorities
An urgent task is to improve cancer examination rates in order to detect the disease at an early stage.
However, the checkup rate is lower than 50% targeted by the government and local authorities.

■AED & Basic Life-Saving Workshop to Build a Society That Can Practice Life-Saving Skills
Tokio Marine & Nichido provides a workshop to practice using automated external defibrillators(AEDs) and to perform cardiopulmonary resuscitation (CPR). Approximately 210 employees from
Tokio Marine Group have attended the workshop in fiscal 2022.

Based on the belief that joint action with as many people as possible is indispensable for improving
the situation, Tokio Marine Group has signed agreements with 44 prefectural bodies and 18 cities (asof March 31, 2022) and has been actively promoting collaboration with them to call more attention tocancer and raise examination rates.
In October 2009, Tokio Marine & Nichido Life and Tokio Marine & Nichido became promoting partners
for Corporate Actions for Cancer Checkups, a national project commissioned by the Ministry of
Health, Labour and Welfare to raise the cancer examination rate to more than 50% through joint
initiatives by the government and companies. By taking part in this public-private partnership, we
intend to contribute to the improvement of the cancer examination rate in Japan.
• Nationwide Regional Activities■Movement to Protect Customers from Cancer

Tokio Marine & Nichido Life encourages cancer education activities in its daily sales operations withthe aim of disseminating cancer knowledge and increasing cancer examination rates. In addition• Background of the Initiative

to periodic cancer-related study sessions, exchange meetings and seminars for agents/consignees

As part of initiatives to fulfill its social mission as an insurance company providing cancer insurance,at branch offices across the country, we have also introduced the Movement to Protect Customers

Tokio Marine & Nichido Life has been supporting the Pink Ribbon Movement since March 2005.

from Cancer and hold an annual national insurers conference of employees and agent/consignee

Extending these activities, we have decided to steadily offer comprehensive solutions for customers’

representatives who are committed to engaging in Hokenbito ( True Insurance Professionals)

concerns. As a first step, upon the release of an insurance product to support cancer treatment

Activities. The entire conference is streamed online to promote the unwavering conviction thatin September 2007, we rolled out a company-wide, ongoing and perpetual initiative called theeverything Hokenbito does is to protect customers and act as a venue to brainstorm actionable

Movement to Protect Customers from Cancer.

items. The 16th conference was held in fiscal 2022 and featured lectures from experienced nurses andhealth care professionals to increase participants’ understanding of cancer and as well as bolster their• Basic Policy

sense of purpose in providing customers with information and security.

In Japan, cancer is considered a national disease and is a source of much grief. The fact has fueled
our desire to protect our customers from cancer to help ease the suffering of cancer patients and toassist their families going through the ordeal. For us, the social role of an insurance company now
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• Agreement with Shizuoka Cancer Center• Providing Encouragement to Cancer Patients by Making Terry Cloth Caps

In 2007, Tokio Marine & Nichido Life and Tokio Marine & Nichido Medical Service (TMS) concluded a

Since 2009, Tokio Marine & Nichido Life has joined initiatives undertaken by Iwate Hospicecomprehensive agreement on joint research into the best ways to provide consultation, support andAssociation, a citizens’ group in Morioka City, Iwate Prefecture, to support cancer patients and theirinformation regarding the treatment of cancer with the Shizuoka Cancer Center. This joint researchfamilies and help them gain courage to fight against the disease. The company has been making terryprogram has focused on such areas as jointly developing tools to communicate in plain language thecloth caps for patients undergoing anticancer drug treatment.

importance of preventive medicine and medical checkups as well as knowledge on cancer.
Every year, participants from Tokio Marine & Nichido Life and other Tokio Marine Group companies
and their families stitch the caps together and donate caps as Christmas presents to cancer hospitals
nationwide through the Iwate Hospice Association.

Shizuoka Cancer Center• Promoting the Pink Ribbon Movement
Tokio Marine & Nichido Life has been promoting the Pink Ribbon Campaign in support of J.POSH,
an NPO engaged in pink ribbon movements for breast cancer awareness in Japan, to convey theimportance of early detection of breast cancer. Tokio Marine Group employees, led by Tokio Marine &Nichido Life employees, have held street campaigns nationwide and handed out awareness goods*
since 2005.
* The certified NPO J.POSH collaborates with medical institutions nationwide on the Japan Mammography Sunday (J.M.S)
initiative to create an environment enabling women who are busy on weekdays to have mammograms on the third Sundayin October. Tokio Marine & Nichido Life also supports this initiative and hands out goods with information on medical
institutions.

• Education Support for Orphans
Tokio Marine & Nichido Life established a fund in 2016 to financially support children who havelost one or both parents due to illnesses such as cancer, and it established the Tokio Marine &Nichido Life Scholarship Program, a social contribution activity supporting future generations withthe cooperation of the Japan Philanthropic Association. The program offers 300,000 yen per year
scholarships to university students and others until they graduate or leave school.
• Donation to Organizations Helping Children and Elderly People under Treatment for an Illness
Donations from Tokio Marine & Nichido Life’s employees and agents are used to support activities
of organizations helping children undergoing medical treatment and elderly people. Employees of
the company also provide support to the activities of these organizations through participation andother means. Donations have been made to the following organizations since fiscal 2016.
• NPO CliniClowns Association• NPO The Support Network for NANBYO Children of Japan• NPO Dementia Friendship Club

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Initiatives■Supporting and Collaborating with the Center for iPS Cell Research and Application (CiRA),
Kyoto University

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■N Program to Support Young Physicians in Clinical Study Programs in the United States
In collaboration with the Mount Sinai Health System in New York, Tokio Marine & Nichido continues to

In January 2015, Tokio Marine & Nichido donatedoffer the N Program. Since 1991, this medical residency program promotes exchange between the two

a total of 100 million yen to Kyoto University’s iPS

countries in the medical field by annually supporting the education of young Japanese doctors with the

Cell Research Fund, covering a five-year period.

desire to gain clinical experience in the United States. In general, people wishing to experience clinicalIn addition, the company called for donations totraining at an educational hospital in the United States are selected by way of a nationwide recruitment

the fund from employees of Tokio Marine Groupsystem. The N Program is handled differently, however, and has become an invaluable program for young

companies and other individuals and made an

Japanese doctors who want to undergo clinical training at an educational hospital in the United States.

additional donation exceeding 1.4 million yen in

The N Program has made remarkable progress thanks to the cooperation of doctors at U.S. medical2022.

institutions and the efforts of residents who participated as trainee physicians. To date, the total number

Tokio Marine & Nichido is also collaborating withPresenting a certificate for the donation to CiRA Director Jun
Takahashi for fiscal 2022

a project called the iPS Cell Stock for Regenerative
Medicine (transferred from CiRA to the CiRA Foundation (CiRA F), also at Kyoto University, in April 2020) to
stockpile induced pluripotent stem (iPS) cells for medical use. The project involves collecting blood fromdonors having a special type of human leukocyte antigens (HLAs), which is thought to cause less immune
rejection. In August 2016, in addition to Kyoto University Hospital, blood collection also started at theof graduates of this program has grown to over 200.
N Program (in Japanese)◉ Disaster Relief
Tokio Marine Group engages in recovery support for disaster-affected areas, including employee volunteer
activities.

medical corporate foundation Kaijo Building Clinic, a tie-up medical institution of Tokio Marine Group. The■Initiatives to Support Recovery of Areas Affected by the Great East Japan Earthquake

provision of iPS cells for regenerative medicine started in August 2015, and the stock has grown to cover

Tokio Marine Group engaged in approximately 30 activities to support areas affected by the Great East

about 40% of people in Japan.

Japan Earthquake. Starting in May 2011 immediately following the disaster, Group company employees,
agents and their families across the country provided support to disaster areas in Iwate Prefecture andCiRA F is currently working with CiRA to promote a plan to provide iPS cells with reduced risk of immune

Miyagi Prefecture.

rejection by using genome editing technology and conducting technology development with the goal ofenabling the provision of iPS cells of patients themselves at the cost of around 1 million yen by 2025.

Their activities included removing disaster debris, cleaning up houses damaged by the tsunami, removing
mud from houses and street drainage gutters, assisting agricultural and fishery-related work, sorting

CiRA is working on research every day to enable the development and clinical application of next-

books for donation to libraries in disaster areas and cleaning damaged and mud-covered photographs

generation iPS cell technology. Through our donations to the research fund, we hope to ease the sufferingand documents.

of people with intractable diseases and injuries and contribute to the establishment of a research
environment that can stably obtain a pool of excellent researchers and research supporters and to the

Tokio Marine & Nichido also engages in volunteer activities in support of two NPOs engaging in activities

further advancement of research in this area. At the same time, we will continue to provide support toto restore tsunami-devastated coastal forests in Natori City and Watari-cho, respectively, along the coast ofhealth, medical and other related fields to deliver safety and security in the form of risk management,

Miyagi Prefecture. For details, please refer to Green Gift Project (Activities to Protect Forests): Restoration

including insurance, and through collaboration among Group companies.

Projects of the Coastal Forests of Tohoku Region.
G reen Gift Project (Activities to Protect Forests): Restoration Projects of the Coastal Forests of Tohoku
Region (in Japanese)
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SocialInitiatives

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Performance Data

Also, employees of Tokio Marine & Nichido and Group companies made paper lanterns from milk cartonselementary school and junior high school children orphaned through traffic accidents and for educational

for the Prayer Lanterns Lighting, a memorial event for the Great East Japan Earthquake held in Morioka

research by educators.

City, Iwate Prefecture. More than 2,000 lanterns were sent to the Morioka Recovery Support Network, thesecretariat of the event. On the day of the event, 30 employees and their families from branches as well as

The Tokio Marine Sports Foundation was established in 1937 with the aim of promoting sports andagents in Morioka and other locations volunteered to set up and light lantern candles.

educational activities among the public to help bring bright and enriched lives to the people of Japan. The
two facilities owned by the foundation, Nasu Sports Park and Toda Boathouse (a water sports facility), areused by a wide range of groups from young children to senior citizens. The foundation is also involved inlocal support exchange events planned by members of Tokio Marine & Nichido’s sports teams and charity
concerts given by the company’s orchestra.
Overview and Activities of Each Foundation
Foundation Name

Tokio Marine Kagami
Memorial Foundation◉ Developing Youth and Promoting Sports
Tokio Marine & Nichido promotes social contribution activities through three foundations with such aims
as helping young people grow, encouraging international cultural exchange and promoting sports in thelocal community.

Tokio Marine & Nichido
Educational Development
Fund

We also encourage children who will take the lead in the next generation to think about environmental
issues, disaster preparedness and traffic safety through our lesson programs delivered to schools andother environmental initiatives.
■Nurturing Future Generations, Encouraging International Exchange and Promoting Sports in
Local Communities through Foundations

The Tokio Marine Sports
Foundation

Summary

Activities in Fiscal 2022

• Provides scholarships to students at
Japanese universities and graduate
school exchange students from ASEAN
nations• Provides academic research aid andearthquake research aid to youngsocial science researchers

Scholarships awarded: 153(138 students at Japanese universities and 15
students from ASEAN nations)
Research assistance: 11 projects(Academic research aid: 5 projects; Earthquake
research aid: 6 projects)

Provides assistance for educators andto children orphaned through traffic
accidents

Financial assistance for education andresearch: 100

Promotes sports activities in local
communities

Number of persons using Nasu Sports Park:
35,120Scholarships for children orphaned throughtraffic accidents: 118

Number of persons using Toda Boathouse:
5,017

T okio Marine Kagami Memorial Foundation / scholarship program to exchange students from ASEAN
nations (in Japanese)

Tokio Marine Kagami Memorial Foundation was established in 1939 and initiated an academic research

Tokio Marine & Nichido Educational Development Fund (in Japanese)

grant program in 1940 and a scholarship program in 1941. The foundation provides scholarships to

The Tokio Marine Sports Foundation youth exchange project through sports activities (in Japanese)students at Japanese universities and graduate school exchange students from ASEAN nations and assists
academic studies by researchers.
Tokio Marine & Nichido Educational Development Fund, established in 1984, offers assistance to2023 Sustainability Report135Basics

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Environmental
Initiatives■ Holding Aerospace Classes with the Local Community to Nurture People Interested in Aerospace
Tokio Marine & Nichido aims to contribute to the advancement of local economies and society by actively
participating in regional revitalization efforts.

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data■Workshop to Create Local Community Safety Maps to Promote Crime and Disaster Prevention
and Traffic Safety
Since September 2007, Tokio Marine & Nichido has been co-sponsoring the “Daijoubu Campaign,” amovement led by The Mainichi Newspapers, and supporting activities to protect children and local

Going forward, further growth is expected in the Tokai region, where the aerospace industry is

residents from disasters and crimes.

concentrated. Tokio Marine & Nichido has been running aerospace classes for elementary and junior highschool students that provide education and include experiments related to aerospace. The idea behind

As part of this campaign, Tokio Marine & Nichido began holding the Workshop to Create Local Community

the initiative is a desire to increase the opportunity for children to become interested in aerospace since it

Safety Maps across Japan in fiscal 2011 in collaboration with The Mainichi Newspapers.

is the younger generation who will bear responsibility for the future of the aerospace industry.
At a training seminar conducted by Professor Nobuo Komiya of Rissho University, an expert in criminal
The project makes use of know-how accumulated in risk management relating to the aerospace industry

sociology, Tokio Marine & Nichido employees and local elementary school children identify dangerous

and of Tokio Marine & Nichido’s own industry-government-academia network built on ties with Aichi

areas on their ways to and from schools and around schools based on two keywords of “easily accessible”

Prefecture and Nagoya University, and has been made possible owing to its community-based work thatand “not openly visible” to create their own local community safety maps.* This initiative enables them toincludes contributing to human resources development.

protect themselves from crime by learning about the concept of dangerous areas. Starting in fiscal 2021,
this event has been held online.

In March 2023, an aerospace class was held at the Gifu-Kakamigahara Air and Space Museum, which let a
total of 60 elementary school students learn about space and satellites and have a simulated experience

Tokio Marine & Nichido will continue to contribute to the safety and security of local communities throughof the training and missions of astronauts. The most recent class focused on H3 rockets. Attendees ranging

this and similar initiatives.

from children to their parents enjoyed learning about the aerospace industry. By providing a venue
to generate more aerospace-related human resources in the Tokai region, the classes are expected to* A local community safety map, developed by Professor Nobuo Komiya of Rissho University, is a map to show “dangerous,”
crime-prone areas, which have been picked based on the two keywords of “easily accessible” and “not openly visible.”

contribute to the advancement of Japan’s aerospace industry.

Daijoubu Campaign (in Japanese)

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Environmental
Initiatives■“Group Work on Managing Risks and Opportunities”: Career Development Program for JuniorHigh and High School Students

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ Disaster Education Support for Children and Local Residents in China• Disaster Prevention Lessons in China

Tokio Marine Group has promoted career education mainly

As of August 2023, the Tokio Marine & Nichido Fire Insurance Company (China) Limited (TMNCH) has

for junior high and high school students by providing its

organized Disaster Prevention Lessons, an overseas version of Tokio Marine Group’s offerings, in 10

own career education program, “Group Work on Managing

Chinese provinces and municipalities since 2016 (32 provinces and municipalities in total). They have been

Risks and Opportunities,” which was developed jointly withattended by a total of 1,981 people including preschool, elementary and junior high school students anduniversities, NPOs and educators.

the elderly, with 148 employees participating in providing Disaster Prevention Lessons.

In the program consisting of card games and teamwork

TMNCH’s Disaster Prevention Lessons have repeatedly improved and evolved as follows:

activities, students become owners of a bakery and think• T hey are held in locations of activities for children who have been left behind in their place of birth due

about ways to operate the bakery successfully over a long period. The lesson simulates responses tovarious risks associated with owning a business, enabling the students to discover issues for themselves
and solve them collaboratively. A cumulative total of 1,900 students have received career education todate.

to parents moving to urban areas for work, and expanding eligibility to include elementary and juniorhigh school students in the areas where the company’s branches are located and in remote places.
• T hey are held in housing complexes and eligibility is expanded to include elementary and junior highschool students and older people over the age of 60.
 loser connection with customers is established as the effectiveness of the activity is increased through•C■ Ashinaga Charity & Walkcollaboration with their social contribution activities.

Tokio Marine & Nichido participated ina charity walk event, Ashinaga Charity

In 2023, the TMNCH (Shanghai) volunteer team was established to ensure the quality of the Disaster& Walk, hosted by Meiji Yasuda Life

Prevention Lessons. There are 33 team members in total, which is more than 10% of the total number of

Insurance Company. From Tokio Marine

employees in the Shanghai area.

Group, a total of 1,525 employees took
part. A monetary donation of 937,399
yen was collected and used to support
orphans as described below.
❶ Donated to Ashinaga to be used for the following purposes to support orphans:• Construction and operation of Tohoku Rainbow House, a healing space for children orphaned by theGreat East Japan Earthquake• Scholarship loans for orphans who want to attend high school, university, junior college or othereducational institutions
 llocated as financial assistance to orphans living in prefectures affected by the Great East Japan❷A
Earthquake through donations to orphan support funds

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SocialInitiatives

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• Educational Assistance for Children of Migrant Workers in China■Participating in Room to Read’s Educational Support Program in Developing Countries

The activity to support the children of migrant workers in China started in 2009. Funds donated by

Tokio Marine & Nichido has participated in the educational support effort led by the international

Tokio Marine Group are spent by schools in areas of the country with many migrant workers on the

NGO Room to Read since fiscal 2010. During the 12 years to fiscal 2021, the company made donations

construction of facilities for activities such as the Seven-colored Summer Vacation. To date, support

every year, thereby providing educational support for a total of about 2,929 girls to help them attainfacilities have been established in over 300 locations in more than 30 provinces and municipalities

independence in the future, offering a study environment for children by opening 17 reading rooms andacross China.

supporting the introduction of 355 literacy education programs in India, Bangladesh and Vietnam.

In June 2023, 19 Tokio Marine Group employees in and outside China voluntarily organized a Seven-

For girls not attending school for economic reasons or because

colored Summer Vacation volunteer activity at the Xundian Rende No. 4 Complete Primary School

they are tied to household duties as a result of their parents’ lackin Yunnan Province. Some TMNCH employees also volunteered to hold a Disaster Prevention Lessonof understanding, the program offers financial aid for tuition

about earthquakes, a topic of unique importance to the province.

fees and endeavors to convey the importance of education totheir families through home visits. These efforts have allowed
girls to continue their education, with many achieving excellent
performance in their schoolwork to make their dreams a reality.
International NGO Room to Read

■Brazilian Seed: Providing Educational Opportunities to Youths and Supporting Their Job Search
Brazil-based 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. Since 2021, the program has supported 170 young people, and 50 of the 63 (79%) people■ Serving as a Special Sponsor of the JOC Junior Olympic Cup Swimming Tournament

who completed the program found jobs in 2021 and 2022.

Tokio Marine & Nichido started providing support to the Japan Swimming Federation as one of theinitiatives undertaken to commemorate its 110th anniversary in 1989, and has been doing so as one pillar

In Brazil, orphans leave orphanages and go out into the world when they turn 18 years old. Many of theseof social contribution activities based on its

young people are anxious about not having spent enough time learning and preparing. To address thisdesire to contribute to the sound development

issue, as part of its Brazilian Seed commitment, the company provides livelihood assistance and about fourof Japan’s youth by promoting swimming.

months of education and support to 15- to 18-year-old orphanage residents preparing to join the labor

Specific efforts include serving as a special

market. In the program, many TMSR employees volunteer to be mentors who teach young orphans whilesponsor of the National JOC Junior Olympic

providing mental support and advice about work and life.

Cup Swimming Tournament held twice a year
(spring and summer) and providing support
for the costs of attending competitions andtraining camps for Junior Olympic athletes.
Go! Go! Junior Swimmers! (in Japanese)Sports support site “Sports Activation” (in Japanese)
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Social and Economic Inclusion of All People

and become supporters for dementia care. We intend to promote this program further, as it gives us◉ Social Contribution Activities and Awareness-Raising Activities for the Elderly and
Dementia

about how we accordingly deal with our customers and our own families.

Tokio Marine Group undertakes social contribution activities for the elderly and awareness-raising◉Supporting the Deaf and Blind and Sports for People with Disabilities

activities for persons suffering from dementia as part of volunteer activities supporting the safety
and security of the local community and families.

a good opportunity to deepen our understanding of the aging population and dementia and think
Million-Supporter Caravan for Dementia (in Japanese)

Tokio Marine Group supports the deaf and blind and sports for people with disabilities through its
products, services and social contribution activities, thus contributing to the realization of a symbiotic■ Contributing to the Creation of Communities That Understand Dementia: Courses to Foster

society.

Support for Dementia Care
Tokio Marine Group provides support for the Million-Supporter Caravan for Dementia, which is■ Collaboration with the Japan Deafblind Association

promoted by the Ministry of Health, Labour and Welfare and the nationwide Caravan Mate Liaison

The Japan Deafblind Association is engaged in activities to support people with hearing and visionCouncil, and conducts courses to foster support for dementia care as a volunteer activity to support

impairments across the country. Their activities include dispatching sign language interpreters andthe safety and security of local communities and families. With the ultimate goal of creating

helpers, training interpreters and publishing a biannual magazine for the hearing and visually impaired.

neighborhoods where people with dementia and their families can live with peace of mind, theprogram is designed so that employees who take the course have the correct knowledge about

Tokio Marine & Nichido has been a supporting member of the association since 2008. At the association’s

dementia to share with friends and families as well as support and give compassionate consideration

annual national conference, which is held to promote the interaction of people with these impairments

to people with dementia and their families in work and private life.

and improve the skills of sign language interpreters and helpers, employees working in offices andbranches in different areas serve as volunteer staff to cooperate in the running of the event.

During the one-and-a-half-hour program conducted in each work department, mainly in Tokyo,
attendees watch a DVD, listen to a lecture given by an employee (called a “caravan mate”) who hasreceived special training on this subject and participate in a role-playing session. As of March 2023,

As in fiscal 2020, this conference was cancelled in fiscal 2021 due to the COVID-19 pandemic.
Japan Deafblind Association (in Japanese)a total of around 6,050 Group company employees have participated in this educational program

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Environmental
Initiatives■Development of the Universal Consulting Service for Companies Employing People with Disabilities
Tokio Marine & Nichido and Tokio Marine dR developed the Universal Consulting Service jointly withSocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ Contributing to the Realization of a Symbiotic Society Where Anyone Can Flourish: Learn About,
Watch and Experience Sports with People with Disabilities

Mirairo Inc., which provides consulting services from the perspective of people with disabilities. This

Tokio Marine & Nichido started sponsoring the Japanese Para-Sports Association (JPSA) in May 2016 andconsulting service is provided based on the results of analyses of eye tracking data collected from eye

the Japan Inclusive Football Federation (JIFF) in October 2016 based on its belief that understanding

trackers worn by people with disabilities. It is intended to help their companies improve their workplace

and accepting each disability and characteristic and participating in and supporting para-sports lead toenvironment, the safety of their facilities, their business processes, productivity and other aspects of theiran understanding of D&I (the idea of accepting the diversity of humans and leveraging their diversity inbusiness.

society).

Recent years have seen an increase in society’s concerns regarding diversity and inclusion (D&I) that

In addition, employees from around Japan conduct volunteer activities and cheer on athletes at the Japan Para

advocates for diverse human resources and their values. Companies are developing organizations

Championships, which is a series of sports events for people with disabilities held regionally.

for creating value by promoting the employment of diverse human resources, including people withdisabilities. On the other hand, various issues have come to the surface regarding the employmentof people with disabilities. They include delays in companies’ establishment of frameworks, a lack ofexperience, employees leaving their jobs after a short period due to a mismatch in the employment
relationship and changes in the work environment that have been accelerated due to the COVID-19
pandemic, such as teleworking.
By providing this service, which helps promote D&I, Tokio Marine Group will contribute to the creation ofopportunities for people with disabilities to express themselves and to the establishment of a symbiotic
society.

■ Building a Society in Which Anyone Can Take on Active Roles with the Special Olympics
In support of the Special Olympics Nippon Foundation’s vision of creating a society where people withand without disabilities understand and respect each other’s differences and live and grow together, Tokio
Marine & Nichido became an official sponsor of the foundation in fiscal 2005 and has been supporting its
activities by providing volunteers.

◉ Re-Evaluating Products Corresponding to LGBTQ+
Tokio Marine & Nichido is working to include same-sex partners in the definition of “spouse” for productsthat provide coverage for families and married couples. We respect the diverse family structures of ourcustomers and will provide products that can be helpful in times of need.

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Environmental
Initiatives

Details◉ Support for Foundations and Donations

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

for a job. The company has provided subsidies and engaged in collaboration since 2021. In March 2023,

In seeking a sustainable society, Tokio Marine Group provides support to NPOs and operates financial
assistance programs.

it provided third-year (final year) subsidies to 10 organizations aligned with the purposes of the fund.
Through the three-year activities, Tokio Marine & Nichido Career Service has facilitated subsidizationand collaboration with a total of 26 job assistance organizations all over Japan and strived to realize an
inclusive society by encouraging many different individuals to achieve self-actualization through work.

■ Tie-Up with the Sawayaka Welfare Foundation
The Sawayaka Welfare Foundation forms a network with a number of volunteer organizations across thecountry and works to build a system of mutual assistance in each local community with the ultimate goalof “building a new society in which all people can develop a close rapport with each other” in order tofulfill their desire to lead an enriching life. Tokio Marine & Nichido empathizes with this organizational
philosophy and partners with the foundation.
National volunteer network information of the Sawayaka Welfare Foundation (in Japanese)■ Providing Work Opportunities Broadly to People Seeking Work
Tokio Marine & Nichido Career Service strives to provide work opportunities broadly to people seeking
work with an aim to build an inclusive society.
• Aiding and Collaborating with NPOs Supporting People Having Difficulty Finding a Job

Tokio Marine & Nichido Career Service’s new initiative for the creation of new workstyles (in Japanese)

Tokio Marine & Nichido Career Service established the Tokio Marine & Nichido Career Service Fund to
Support People’s Willingness through the Public Resources Foundation to support NPOs and otherorganizations supporting people who have difficulty working for many different reasons in their search• Continuation of Job Assistance for Single Mothers
Single mothers face difficult financial conditions, with their average income being less than 50% of the

Track record of the Tokio Marine & Nichido Career Service Fund to Support People’s
Willingness over three years
Recipients of job assistanceoffered by subsidized organizations

Total number ofsubsidized organizations

income of the average household. To solve thissocial issue through employment, Tokio Marine& Nichido Career Service implemented the
Manabi Assist program in cooperation with the❶ People with disabilities

9❷ Low-income households / single mothers, etc.

2

❸ Young people who are socially withdrawn or in need11

❹ Former orphanage residents

3

for people seeking advice on future workstyles❺ LGBTQ individuals

1and careers and job referrals. Nearly 130 single

Total

26

NPO Single Mothers Forum in 2020 and 2021.
This program packages e-learning training
which can be done at home, monetary benefits
during the training period, counselling services

mothers participated in this program, which
led them to find new jobs.

A Manabi Assist program session explaining PC settings

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Environmental
Initiatives■ Safety First Grant Program for Workers’ Compensation Policyholders
U.S.-based Safety National is offering the Safety First Grant Program. Under this program, current Safety
National workers’ compensation policyholders that are registered for at least one Safety National MAP
Client Services online resource are encouraged to submit a nomination. Applicants have a chance to win
one of three dollar-for-dollar matching reimbursement grants for the most creative risk-reducing solutionthat will help create a safer, more productive work environment for their employees. It is designed tofacilitate creative ideas in risk management and promote innovative risk control solutions, while inspiringother employers who face similar risks.
Since 2014, Safety National has provided funding for 26 risk control projects, totaling US$140,000 inmatching grants that reduce risks for first responders, manufacturers, school operators and retailers.
For example, one of the grant-winning solutions in 2022 involved increasing the number of motorized
stretchers and beds in a healthcare environment to reduce the frequency of injuries suffered whiletransporting patients. Through proper safe-patient handling techniques and the use of these motorized
stretchers, the hospital expects to see a 10 percent reduction in injury frequency, potentially impacting
560,000 patient encounters.

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

6.7 Improving Quality from the Customer’s

Perspective

Aiming to become “a company that delivers sustainable growth by providing safety and security
to customers and by always remaining their first choice,” Tokio Marine Group takes feedback from
customers seriously and works to improve the operational quality on a constant basis. We strive tobuild trust-based partnerships with agents and improve our operational quality together in order totruly provide safety and security from a customer standpoint.

6.7.1 Basic Approach to Quality Improvement
Tokio Marine Group has earned high regard from its customers by providing products and services
that are ahead of the times in accordance with the Group’s Corporate Philosophy: “Through theprovision of the highest quality products and services, Tokio Marine Group aims to deliver safety andsecurity to all its customers.”
In the medium to long term, changes in living and business environments resulting from frequent
natural disasters, demographic shifts and technological innovation in the world will generate many
new opportunities and risks. In response to the diversifying needs of both individual and corporate
customers in connection with such new opportunities and risks, Tokio Marine Group will combine
the capabilities of all Group companies and will do its best to provide new products and services that
anticipate the changing times and extend beyond the framework of conventional insurance products
and services in areas such as the financial, medical and consulting fields. Supervised by the president,
the improvements necessary for enhancing the quality of products and services are identified andmanaged by the responsible departments of each company of Tokio Marine Group.
1. Response to Customer Feedback
Tokio Marine Group considers customer feedback to be an important indicator for the evaluation ofservice quality and strives to improve the quality of its services. We also continuously monitor thesocial impact and risks of products and services to improve their development and provision.
2. High-Quality Insurance Solicitation
Tokio Marine Group works to explain and provide products and services based on a correctunderstanding of the risks surrounding customers, their intentions and circumstances and theneeds of each individual customer. We also strive to ensure that customers correctly understand2023 Sustainability Report142Basics

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important matters about the products and services we provide (including risks and details that may
be detrimental to customers) and to provide easy-to-understand and appropriate explanations inaccordance with the form of our selling and marketing. In addition, we not only comply with laws andregulations but also strive to carry out appropriate sales and solicitation activities related to products◉ Tokio Marine & Nichido Customer-Oriented Business Conduct Policies

and services, which are conducive to reducing the negative impact on the environment and society

Business Conduct Policy 1: Business conduct utilizing customer feedback

and realizing a sustainable future.

Under its corporate philosophy of placing customer trust at the base of all its businessactivities, Tokio Marine & Nichido has formulated a customer feedback response policy to

3. Payment of Insurance Claims

encourage employees and agents to take customer feedback seriously and use it proactively

While repeating the plan-do-check-act (PDCA) cycle for the implementation, review and improvement

in corporate activities. The company will pursue customer-oriented business conductof operations, Tokio Marine Group always seeks to increase the quality of its products and services

according to the policy.

from the customer’s perspective.
Business Conduct Policy 2: Insurance solicitation
4. Instilling Customer-Oriented Business Conduct Policies

Tokio Marine & Nichido will work to provide appropriate products and services based on a

To provide safety and security based on the customer’s perspective, Tokio Marine Group strives

correct understanding of risks facing customers and their needs and purposes while providing

to improve its internal structure and provide regular training to individuals engaging in sales. In

necessary information when concluding an insurance contract.

addition, we endeavor to build partnerships of trust through smooth communication with agentsand improve the quality of operations together.

Business Conduct Policy 3: Payment of insurance claims (claims service)
To be of help to customers in times of need, remain by their side while correctly understanding

Basic Policies for Protection of Customers’ Interests
Tokio Marine Group has established basic policies for the protection of customers’ interests and developeda system to thoroughly promote being customer-oriented and to pursue various aspects including
customer protection. In addition, in accordance with the Tokio Marine Group Policy for Management ofConflicts of Interest and through compliance with these policies by directors, officers and employees,
Tokio Marine Group will work to manage transactions involving conflicts of interest to ensure that clients’interests are not unduly harmed.
The Tokio Marine Group Policy for Management of Conflicts of Interest

Customer-Oriented Business Conduct Policies
To more thoroughly carry out customer-oriented insurance business while remaining close to customers
and accurately identifying their diversifying needs, Tokio Marine & Nichido, Tokio Marine & Nichido Lifeand some other Group companies have formulated and announced their respective policies on customer-

their situations and positions and respond to their trust, Tokio Marine & Nichido will work toensure the quality of its claims service and make swift and appropriate claims payments.
Business Conduct Policy 4: Initiatives to instill these policies
Tokio Marine & Nichido will provide training programs and promote initiatives to instill thesebusiness conduct policies in agents and employees so that they will always act in a customeroriented manner.
Business Conduct Policy 5: Management of transactions involving conflicts of interest
In accordance with the Tokio Marine Group Policy for Management of Conflicts of Interest andthrough compliance with these policies by directors, officers and employees, Tokio Marine &Nichido will work to manage transactions involving conflicts of interest to ensure that clients’interests are not unduly harmed.

oriented business conduct and have been working with agents to promote specific initiatives under thesepolicies. We will review our policies on a periodic basis to constantly realize better business conduct,
thereby earning the lasting trust of customers.
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◉Tokio Marine & Nichido Life Customer-Oriented Business Conduct Policies

Business Conduct Policy 4: Initiatives to instill these policies

Business Conduct Policy 1: Business conduct utilizing customer feedbacka customer-oriented manner in all business conduct, Tokio Marine & Nichido Life will establish

Under its corporate philosophy of placing customer trust at the base of all its businessnecessary evaluation and training programs and continue to implement initiatives to instill

activities, Tokio Marine & Nichido Life regards it as extremely important that all employees

these business conduct policies among them.

In order to encourage employees, agents and direct sales employees (“Life Partners”) to act inand agents seriously take feedback from customers, including complaints, requests andsuggestions, and meet their expectations. The company has accordingly formulated its

Business Conduct Policy 5: Management of transactions involving conflicts of interest

customer feedback response policy and will work to make its business conduct even more

In accordance with the Tokio Marine Group Policy for Management of Conflicts of Interest andcustomer-oriented.

through compliance with these policies by directors, officers and employees, Tokio Marine& Nichido Life will work to manage transactions involving conflicts of interest to ensure that

Business Conduct Policy 2: Insurance solicitationclients’ interests are not unduly harmed.

(1) Tokio Marine & Nichido Life will work to develop life insurance products and services
matched to customer needs while also paying attention to social and economic trends andBusiness Conduct Policy 6: Asset managementchanges in the business environment.

In order to ensure future payments of insurance claims and benefits, Tokio Marine & Nichido(2) Tokio Marine & Nichido Life will deliver security by providing custom-tailored solutions thatmeet increasingly diverse customer needs and protect customers and their families.

Life will conduct asset management while paying due consideration to the distinctive
characteristics of insurance contracts and by applying appropriate risk control.

(3) Tokio Marine & Nichido Life will implement initiatives to provide detailed information on
products and explain them in a thorough manner to customers and have them confirm,based on a correct understanding of the products, that our solutions match their needs
and purposes.
Business Conduct Policy 3: Follow-up services and payment of insurance claims and benefits
Recognizing that paying insurance claims and benefits is one of the most basic and important
responsibilities of an insurance company, Tokio Marine & Nichido Life will make sure to explain
policy and other details to all customers in an easily comprehensible manner and make swift
and accurate payments, working always from a customer standpoint. The company will also
set up a system to provide follow-up services to elderly customers to ensure that they will
make claims for which they are entitled to without omissions.

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6.7.2 Response to Customer Feedback (Business Conduct Policy 1)■ Listening to Customer Feedback

Each Tokio Marine Group company strives to improve the quality of its services by regarding customer

as customer surveys, telephone calls from customers, company websites and information gathering via

feedback as an important indicator for the evaluation of service quality.

agents and sales personnel.

■ Customer Feedback Response Policy

From the perspective of enhancing the transparency of initiatives regarding customer feedback, theCritical opinions and demands as well as compliments from customers are valuable assets for us to provide

number of feedback comments received, details of these comments and examples of products andmore quality services to customers. Based on the Group’s basic policy related to customer feedback,services developed or improved based on such feedback are made public via company websites in greater

each company of Tokio Marine Group has formulated a response policy to utilize customer opinions fordetail.

Each Tokio Marine Group company actively listens to customer feedback through various means such

improving products and services.
Tokio Marine & Nichido is conducting customer surveys regarding auto insurance, fire insurance and■ Structure to Make Improvements Based on Customer Feedback
Customer surveys and feedback received directly from customers by employees and agents lead to quality<Structure for Listening to Customer Feedback>improvements in terms of products, services and other aspects. For example, Tokio Marine & Nichido,[Tokio Marine & Nichido]

Tokio Marine & Nichido Life and Nisshin Fire enter such feedback

Customers

into a central management system that is set up on their respective
intranets for later analysis. This feedback is then utilized for the said

Additionally, Tokio Marine & Nichido conducts regular meetings
with external advisors and consumer monitors in order to receive
have translated into various improvements, including easier-tounderstand notices and documents.
<Initiatives in Compliance with ISO 10002>

Collection

AnalysisComplaint
RequestCompliment

System using
customer feedback
to makerecommendations•Analysis of customer
feedback with information
analysis software•Confirmation from theperspective of external
consumer advisors•Determination of the levelof importance

Customerfeedback
Agents’ requests
Employees’
recommendations

As a means of standardizing the response to customer feedback companywide, Tokio Marine & Nichido
and Tokio Marine & Nichido Life have established operation systems in conformity with ISO 10002, theinternational standard for management of the complaints handling process.

Unified managementwith an internal
system

Improvement

these operation systems, we will continuously strive to enhance the quality of operations in terms ofReportingresults ofconsideration

Request forreconsideration•External perspective•Determination of thelevel of importance•Monthly cycle

Instructions for
improvement•Important matters
Report to the
management team
Board of Directors

Moreover, these two companies were the first in the domestic financial industry to verify compliance with
the ISO 10002 standard in June 2007 and subsequently made an external announcement in July. Under

Feedback•Disclosure of
improvement examples

Responsible
servicedepartment

Operational
Quality Department

advice from the perspective of the consumer. These activities

Feedback
categories

Improvement proposal

improvements.

Important matters(reported on atimely basis)

Management
Meeting
Operational Quality
Committee

Reporting• Status of improvementof products, etc.

products, services and other relevant aspects based on customer feedback. Nisshin Fire also made a selfdeclaration of compliance with the ISO 10002 standard in July 2008.
2023 Sustainability Report145Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Super Insurance at the time of contract. The aim is to confirm whether the company is providing easy-to-

Nisshin Fire strives to identify customer needs through various surveys, for example, on staff response

understand explanations of details of coverage, premiums payments, rider services and important terms.

during the contracting process and accident response services and works together with its agents toTokio Marine & Nichido also asks for cooperation in surveys after paying insurance claims to customers

enhance the quality of its services to bring even greater satisfaction to customers.

in order to obtain a wide range of opinions regarding responses to accidents. The company constantly[Nisshin Fire]

makes efforts to improve quality based on this customer feedback.

Customer Feedback (Including Feedback Received via External Organizations)

Tokio Marine & Nichido Life encloses a questionnaire survey with its insurance policies, contract details or
notices regarding the payment of insurance claims and benefits to extensively obtain customer feedback.

Customer Feedback

Customers
Insurance Agents"Life Partners"

Sales Bases andHead Office

Customer Centers.
Sections Providing Consultations on
Insurance Claims Re-Examination.
Customer Consultation Sections

Improving Operational Quality

Customer Consultation
Office Telephone
Service Center

System for Using Customer
Feedback and Making
Recommendations

WebsiteSupervisory Agency.
The Life Insurance
Association of Japan etc.

Head Office
Departments

Business Quality Department

WebsiteCustomer Feedback
HotlineSales Departments
Claims Service
Departments

Questionnaire
Surveys

System for Using Customer Feedback

Various Surveys

Board of Directors

Risk Management
Committee

AgentsCheckandVerification

Analysis
andBusiness
Improvement

Risk Management Business Quality Department /Business Process Planning Department

Responsible
Head Office
Departments

Customer Value
Improvement Committee
Business Quality
Improvement Committee

Sales Bases

Commitment
byManagement
Each Group
Company

Customer Feedback
Committee

External
Disclosure

Feedback to Customers

ReceivingandResponding
to Customer
Feedback[Tokio Marine & Nichido Life]Management Meeting

Board of Directors

Management
Meeting

Business Quality
Management Committee

Feedback

Customers
Shareholders
Society

Improvement of Quality ofOperations, Including
Products and Services

Insurance Agents

Employees*An internal cross-sectional committee of the Board of Directors composed of full-time directors and generalmanagers and established for the purpose of utilizing feedback from customers to improve operational quality

2023 Sustainability Report 146

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Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

<Fiscal 2022 Number of Customer Feedback Comments>[Tokio Marine & Nichido]
Customer feedback
categories

Representative examples

Apr. - Jun.
2022

Jul. - Sep.
2022

Oct. - Dec.
2022

Jan. - Mar.
2023

Fiscal2022

Number ofcomments

Number ofcomments

Number ofcomments

Number ofcomments

Total as ofMar. 2023

Customer feedback
categories

Products and services
Policy and pamphlet details difficult tounderstand

310

283

320

304

1,217

Products and services
relatedRequests for improving products andservices, others

1,762

1,699

1,481

1,555

6,497

2,072

1,982

1,801

1,859

7,714

Explanation of contract Insufficient explanation of contract
details
details, others
Subtotal

Dissatisfied

Number ofcomments

Number ofcomments

Number ofcomments

Number ofcomments

Total as ofMar. 2023

555

592

502

532

2,181

14

10

5

6

35

4,153

4,328

4,206

4,162

16,849Subtotal: Total for insurance claims payments

302

251

231

258

1,042

Matters concerning personal information

65

38

42

62

207

1,335

1,268

1,210

1,172

4,985

Others

53

45

39

31

168

9,323

9,221

8,783

8,904

36,231

985

965

1,007

1,122

4,079

1,873

1,865

1,881

1,992

7,611

12,181

12,051

11,671

12,01847,921

Dissatisfied Total
109

127

474

Non-arrival of policy

Delay in sending of policy

16

17

26

22

81

Modification
procedures

Delay in modification procedures,
others

929

858

791

867

3,445

Account transfers

Unable to make account transfers,
others

128

124

116

134

502

1,186

1,124

1,042

1,150

4,502

Requests
Compliments

Total［ Tokio Marine & Nichido Life］(Number of Comments of Dissatisfaction Only)

Enrollment: Response and etiquette
Telephone response and visitation
etiquette

Matters concerning payment not corresponding to the above

3,943

125

Subtotal

449

432

435

457

1,773
Item

Enrollment: Others
Matters concerning enrollment not corresponding to the above
Subtotal : Enrollment total

10

4

8

11

33

2,980

2,828

2,695

2,790

11,293

Insurance claims payments: Insurance claims payment
Delay in being contacted by staff,
insufficient explanation of procedures
Insufficient explanation about insurance
claims payments
Advisability of payment

Telephone response and visitation
etiquette

914

113

Subtotal

Fiscal2022

979

Errors in listed policy details

Advisability of
payment

Jan.- Mar.
2023

1,017

Policy deficiencies

Payment amountOct.- Dec.
2022

1,033

Enrollment: Contract management

Contacting andresponses

Jul.- Sep.
2022

Insurance claims payments: Others

Enrollment: Contract procedures
Delays in sending renewal information,othersResponse and etiquette

Dissatisfied

Subtotal: Products and services

Response andetiquette

Apr.- Jun.
2022

Insurance claims payment: Response and etiquette

Policy and pamphlet
relatedContract renewal
procedures

Representative examples

1,380

1,533

1,535

1,397

5,845

670

632

632

657

2,591

1,534

1,561

1,532

1,570

6,197

3,584

3,726

3,699

3,624

14,633

Principal Details of Feedback

Apr. 1, 2022–
Mar. 31, 2023

Percent of
Total (%)

New contract related

Dissatisfied with explanations and with presentments on
insurance policy at time of enrollment, others

2,482

11.4

Receipt related

Dissatisfied with insurance premium payment methods andmodification procedures, others

2,916

13.4

Protection related

Dissatisfied with contract details modifications, policyholder
loans, cancellation procedures, others

5,324

24.4

Insurance claims andbenefits related

Dissatisfied with payment procedures for insurance claims,
benefits, maturity proceeds, others

6,955

31.9

Others

Dissatisfied with after-service, etiquette and telephone response,
others

4,127

18.9

21,804

100.0

Total

2023 Sustainability Report147

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Environmental
Initiatives［ Nisshin Fire］(Number of Comments of Dissatisfaction Only)
Item

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■Customer Satisfaction Targets
FY2021 FY2022

1. Contracting and soliciting activities

Every year, Tokio Marine & Nichido discloses customer satisfaction indicators on the page of its Japanesewebsite that reports the status of the company’s initiatives based on its customer-oriented businessconduct policies. The company also implements many different programs in an effort to enhance❶ Product details (coverage, others)

16

33❷ Contracting procedures (incomplete, delays, others)

135

119

❸ Soliciting activities (not thoroughly confirming with customers their needs and purposes, others)

91

90

The level of customer satisfaction is confirmed by conducting customer questionnaire surveys when

❹ Insufficient or erroneous explanation about policy details, conditions and others

188

190

soliciting insurance and paying insurance claims and benefits to identify the level of satisfaction of❺ Enrollment (conditions, restrictions, others)

17

27

customers as a whole regarding contract procedures and the payment of insurance claims and benefits. In❻ Error in insurance premium calculation

27

28

addition, we will conduct surveys using new approaches, such as the Net Promoter Score (NPS), to increase❼ Staff interaction with customers

21

25

the sophistication of customer experience analyses. In this way, we take these valuable evaluations and❽ Contents of forms and other documents (application forms, invoices, leaflets, others)

32

58❾ Other

150

111

Subtotal

677

681❶ Insurance policies not reaching customers or errors in policies

16

24❷ Availability of payment in installments or account transfer

51

51❸ Procedures for changing policies

181

170

❹ Procedures for canceling policies

156

166

❺ Processing of maturity repayment (processing delay, amount repaid, others)

7

1❻ Staff interaction with customers

105❼ Other

55

33

Subtotal476

450

customer satisfaction.*

opinions from customers seriously and work to improve our initiatives, aiming to develop initiatives that
increase customer satisfaction.
*Numerical targets: Improvements YoY

2. Management and protection of contracts, collection of premiums

3. Insurance claims❶ Amount of insurance claims paid

125

117

❷ Delay in response and method of response

541

560

❸ Advisability of payment

35

38❹ Staff interaction with customers

242

300

❺ Other

66

Subtotal

949

1,041

4. Other (including complaints on the handling of personal information)
Total

84

69

2,186

2,241

<Tokio Marine & Nichido: Level of Satisfaction (Fiscal 2022)>

Level of Satisfaction regarding
Overall Claims Services

Overall Level of Satisfaction
regarding Contract Procedures(Auto Insurance)(Auto Insurance / Fire Insurance / Super Insurance)

Somewhat dissatisfied 1.4%

Somewhat dissatisfied 1.2%

Dissatisfied 1.0%
Very dissatisfied
1.0% 大変満足

Neither satisfied nor
dissatisfied 4.9%

Somewhatsatisfied

Neither satisfied nor
dissatisfied
9.7%
大変満足

満足

8.2%

満足
Somewhatsatisfied
やや満足

満足

どちらともいえない

どちらともいえない

どちらともいえない

どちらともいえない

やや不満

やや不満

やや不満

やや不満

不満

不満

不満

不満

大変不満

大変不満

大変不満

大変不満

44.2％

39.2％

やや満足

11.7%

Somewhat satisfied to very satisfied:

91.7%

Very dissatisfied
0.2% 大変満足

大変満足

やや満足

Very satisfied
Satisfied

Dissatisfied 0.4%

Satisfied

44.8％

満足

Very satisfied
やや満足

32.0％

Somewhat satisfied to very satisfied:
とても満足

とても満足

満足

満足

普通

普通

不満 + とても不満

不満 + とても不満

88.5%

2023 Sustainability Report 148

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Environmental
Initiatives

Details

大変満足

満足

どちらともいえない

どちらともいえない<Tokio Marine & Nichido Life: Level of Customer Satisfaction (Fiscal 2022)>

Feedback (Fiscal 2022)
やや不満

やや不満
不満

不満
Tokio Marine& Nichido

大変不満

大変不満
[Customer
Feedback]

Very dissatisfied + dissatisfied

Neither satisfied
nor dissatisfied

0.3%

8.0％

[Response]

満足

Very satisfied
普通We have expanded the scope of online contract procedures available to customers contacting the51.0％
不満 + とても不満

40.7％

In addition to operator assistance, I want information on online procedures when contacting the customer
center.

とても満足

SatisfiedSustainability
Performance Data

やや満足
Examples of Items That Have Been Developed and Improved Based on Customer■ Mainやや満足(Overall Level of Satisfaction
regarding Contract Procedures,
Product Details, etc.)

GovernanceInitiatives

大変満足

満足

Overall Level of Satisfaction
at the Time of Enrollment

SocialInitiatives

customer center. The lineup now includes Super Insurance in addition to auto insurance and fire insurance,
which have been available for online procedures.

Satisfied to very satisfied:

Tokio Marine & Nichido Life

91.7%

[Customer Feedback]Signatures, instead of seals, should be accepted when creating necessary documents for procedures.
[Response]<Nisshin Fire: Level of Customer Satisfaction (Fiscal 2022)>

Since November 2022, we have accepted signatures instead of seals when creating necessary documents

Overall Level of Satisfaction regarding
大変不満
Accident Response Services

for various procedures for individual contracts.

不満(Auto Insurance)

どちらともいえない(Fire Insurance/ Specialty Insurance)

Nisshin Fire満足

Dissatisfied 0.9%
Neither satisfied nor
dissatisfied 3.5%

[Customer Feedback]

大変満足

Dissatisfied 0.8%
Very dissatisfied
0.8%
大変不満

Neither satisfied nor
dissatisfied 2.9%

不満
どちらともいえない
Very satisfied

Satisfied

Very dissatisfied
0.4%

Satisfied

34.7％

examine them and send the application later at my convenience.

不満[Response]

61.1％
満足

大変満足

Satisfied: 94.8%

大変不満

Very satisfied
どちらとも言えない

58.6％
満足

36.2％

大変満足

Satisfied:
95.8%
大変不満
不満

Status of customer feedback: Respective Group company websites

どちらとも言えない満足

After receiving an explanation of the coverage details from an agent, I prefer to take my time to closely

In October 2021, we introduced the Web Raku Tetsuzuki (Easy Online Procedures) for auto insurance,
which allows customers to enroll in insurance products on their smartphones, tablets and other devices in
addition to the existing means of telephone or mail.
Status of Customer Feedback: Respective Group Company Websites
Tokio Marine & Nichido: Improvement examples based on customer feedback (in Japanese)
Tokio Marine & Nichido Life: Major and specific development and improvement examples based on

Tokio Marine & Nichido: Number of customer comments received and customer survey results

customer feedback (in Japanese)(in Japanese)

Nisshin Fire: Examples of improvements that have been carried out based on customer feedback

Tokio Marine & Nichido Life: Status of customer feedback (in Japanese)

大変満足(in Japanese)

Nisshin Fire: Response to customer complaints (in Japanese)
2023 Sustainability Report149Basics

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Environmental
Initiatives

6.7.3 I nitiatives toward High-Quality Insurance Solicitation(Business Conduct Policy 2)■ Supporting Safety and Security via Smartphones
Tokio Marine & Nichido provides a free smartphone app on the Tokio Marine & Nichido website (renamed
from Mobile Agent in January 2022) exclusively for customers. Policyholders may use this app to view thedetails of their insurance policies, check the points of contact of their agent and conduct procedures such

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Tokio Marine Group will work further to support the safety and security of customers by utilizing
smartphones.
Tokio Marine & Nichido: My Page (in Japanese)
E. design Insurance: Annual Report (in Japanese)■ Examples of Initiatives toward High-Quality Solicitation
In April 2012, Tokio Marine & Nichido rolled out an initiative that utilizes tablet devices to enhance comfort

as changing their registered address.

and convenience for customers.

The app is also capable of, for example, linking accident location data using GPS, easily sending

For Super Insurance, auto insurance, fire insurance, accident insurance and life insurance, its main products

photographs of damaged vehicles or accident sites taken by policyholders and enable accident response
status to be monitored in real time via push notifications. It helps customers to smoothly respond to car

for individual customers, the company introduced the paperless Raku Raku Tetsuzuki (Quick and Easy
Online Procedures), which allows customers to request a premium estimate, view product descriptions

accidents.

and apply for insurance on a tablet and other devices. These procedures enable the company to provide

In February 2023, the app user interface was fully redesigned and made easier to view. Improvements

introduced “Your Enrollment at a Glance,” a list that enables customers to check their family’s insurance

were made to features such as the automatic display of policy details and agent information, enabling
all necessary information to be automatically displayed without the customer having to manually input
additional information. The customer can use the app smoothly even when experiencing difficult events.
Tokio Marine & Nichido will continue to strengthen its digital points of contact with customers throughMy Page on the Tokio Marine & Nichido website.

easy-to-understand product descriptions with videos and electronic pamphlets. The company has also
enrollment status on their tablet and other devices.
In January 2020, the company launched the Smart Raku Raku Tetsuzuki service enabling customers toenroll in insurance products using their smartphones, personal computers or tablets, establishing a systemthat enables customers to apply for insurance on their own, anytime and anywhere. In August 2023, theservice was used in 7.6% of individual auto insurance application procedures.

Additionally, E. design Insurance allows customers to complete overall procedures, from requestingan estimate to final application for auto insurance, via smartphone. A dedicated web page is set up foreach customer to report accidents and verify accident response status in addition to making changes tocontract details and renewal procedures.
In November 2021, E. design Insurance launched a new auto insurance product named &e (pronounced“Andy”), which uses IoT sensors linked to the customer’s smartphone. Information about the customer’s
driving behaviors, such as sudden braking and abrupt steering, is converted into a score based on datafrom the sensor and delivered to the customer as a Trip Report. Should an accident occur, the IoT sensor
automatically detects the impact and enables the customer to report the accident to the company with

Screen images of Raku Raku Tetsuzuki contract procedures

one tap on the smartphone. It also makes it possible to check data regarding the speed of the customer’scar, the impact and the damage to the car, and it shows a video reproducing the accident, thus helping to
reduce the customer’s anxiety and burdens.
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Environmental
Initiatives

The company also rolled out the Remote Raku Raku Tetsuzuki in December 2020. It is a seamless, paperless
and at-ease service that uses a web conferencing app to complete everything online on smartphones andother devices, from proposing and explaining insurance products to customers to helping them apply fora product.
The initiative received a 2014 Ministry of Economy, Trade and Industry (METI) Minister’s Award inrecognition of its contribution to informatization of the economic society. It also won the top IT Overall
Award at the 31st Information Technology Award 2013 sponsored by the Japan Institute of Information
Technology. In the future as well, Tokio Marine & Nichido will strive to further enhance comfort andconvenience for customers through a diverse range of initiatives.
■ Introducing a Function to Propose Insurance Products Using AI
For the first time in the insurance industry, we have developed a function in which AI designs
recommended insurance plans that combine life and non-life insurance products based on customers’
attribute information, including age, gender and family composition as well as which life and non-life
insurance products they have enrolled in. For this function, we have filed an application for a businessmodel patent.
We have adopted this function in our Super Insurance and have initiated the process of transforming
ourselves toward the realization of a new form of insurance proposal, in which agents with excellent

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

6.7.4 I nitiatives for Paying Insurance Claims (BusinessConduct Policy 3)

Tokio Marine Group continuously promotes the enhancement of quality from a customer standpoint by
repeating the plan-do-check-act (PDCA) cycle of implementation, verification and improvement.
■ Anshin (“Reassuring”) Quality
As an effort to meet customers’ expectations and gain their satisfaction, Tokio Marine & Nichido defines
Anshin Quality, a level of quality that must be assured by anyone at the company, at anytime andanywhere by ensuring to achieve or execute things naturally expected of our products and services bycustomers.
Based on this Anshin Quality approach, the company has formulated its Anshin Quality Standards asquality standards that must be assuredly satisfied by anyone at the company, at anytime and anywhere.
There are specific standards for each of the main business processes related to products and services,
including solicitation, claims payment and basic customer response etiquette. Tokio Marine & Nichido
is strongly committed to being customer-oriented under a firm determination to never providing tocustomers products or services that do not satisfy these standards.

consulting abilities utilize this function to propose insurance products to customers.

■ Providing Information That Enables Customers to Make Claims without Any Omissions* This function was developed jointly with PKSHA Technology Inc., which possesses a strength in AI technology.

omissions, Tokio Marine & Nichido Life provides

To ensure that customers request insurance claims payments and insurance benefits without any
information to customers regarding insurance
claims payments and insurance benefits when they
enter into an insurance contract, during the contract
validity period and when requesting insurance
claims payments and insurance benefits.
Additionally, through such means as our website,
we ask customers to contact Tokio Marine & Nichido
Life if they have any uncertainties about receiving
insurance claims payments and insurance benefits.

Guidebook on receiving insurance claims payments
and insurance benefits

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Environmental
Initiatives

We have made online insurance claims procedures available for a wider range of purposes, enabling

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

customers upon receipt of the notification of an accident, and personnel in charge provide information

customers to submit insurance claims easily via their smartphones or PCs. Online procedures exclusively

on the amount of claims payable in an easy-to-understand manner.

for COVID-19-related claims have also been established. Furthermore, an AI automated voice response• When insurance claims are paid, personnel in charge will explain in an easy-to-understand manner whileservice has been introduced to enhance after-hours call center services in pursuit of greater customer

also sending a statement of claims payable that not only verifies the amount but also provides a detailed

convenience in the requesting of insurance claims payments and insurance benefits.

breakdown.
• When insurance claims cannot be paid, we inform customers of the reason both verbally and in written■ Raising the Quality of Call Centers

form in an easy-to-understand manner. Additionally, customers’ complaints and consultations regarding

Tokio Marine Group’s call center departments have formulated the Contact Center Standard for Tokiothe payment of insurance claims are accepted via an exclusive toll-free telephone line. We have also

Marine (CCST) and have been evaluating and verifying the status of their operations based on theestablished the Re-examination Request System* to ensure fairness in the payment of insurance claims.

standard for the purpose of raising the quality of customer responses throughout the Group’s call centers.
We also conduct a customer satisfaction survey on a periodic basis and undertake improvement activities
to satisfy customer needs. At the same time, we have been implementing various common measures,such as holding a “telephone response contest” of all call centers within the Group, for mutually refining
customer response skills.
In addition, we utilize digital technology and enhance our website infrastructure to support customers
when making inquiries or going through various procedures, while further upgrading response skills andstriving to ensure quality response tailored to individual customers and stable operation of call centers.
As a result of these initiatives, Tokio Marine & Nichido received three stars, the highest rating, in HDIJapan’s quality benchmark for both contact for inquiries and online support in fiscal 2022.
■ Providing Anshin Quality of Claims Services to Customers
At Tokio Marine & Nichido, we believe that our value as an insurance company is tested when an accident
occurs. To prepare ourselves for such an emergency, we define Anshin Quality as specific quality standards
that are indispensable for the products and services provided to customers and, together with agents,
have been making full, concerted efforts toward the realization of Anshin Quality. Also in terms of claims
services, we seek feedback broadly from customers and constantly endeavor to improve quality based onsuch feedback while repeating the cycle of implementation, verification and improvement.
As one example, we have implemented the following operational improvements based on the evaluation
results and opinions we gather through a customer survey, which is conducted after insurance claims arepaid to policyholders of our auto insurance, who have been involved in an accident.

* Re-examination Request System
We have introduced the Re-examination Request System for ensuring the fair payment of
insurance claims.
It is a system for customers (including policyholders and insured persons) to request reexamination when they disagree with the decision not to pay insurance claims made by claims
service bases in accordance with policy details.
In response to a written request for re-examination and other documents submitted by acustomer, the Claims Service Re-examination Committee, which is a closed-door committee
composed of external specialists (doctors, lawyers and legal experts), re-examines the decision.
The committee examines the appropriateness of our decision from a legal or medical point ofview and reports its results in written form to the customer who requested the re-examination.
However, this system does not apply to cases that are outside the activity scope of thecommittee, which is to make a decision from a legal or medical viewpoint. For details, pleasecontact the responsible claims service base.
Tokio Marine & Nichido: Re-examination Request System (in Japanese)
Tokio Marine & Nichido: Re-examination Results by the Claims Service Re-Examination Committee(in Japanese)• Information regarding details of coverage and a list of available coverages (insurance claims) are sent to2023 Sustainability Report152Basics

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Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

To provide high-quality claims services in case of an emergency to deliver safety and security to customers

does not allow us to close the case until the payment of all payable insurance claims is made. By means

by leveraging our high level of expertise, we are making various related efforts on top of the enhancementof this system and various types of training, we ensure to make an appropriate payment of claims toof the resolution capabilities of employees. In the following sections, we divide the process of claims

customers.

services into five steps (receiving loss reports, initial response, loss adjustment, reporting progress andpayment of insurance claims) and describe our initiatives in each.

Moreover, we constantly strive to improve the quality of our customer response over the telephonethrough employee training and by conducting a survey on its telephone responses by an external survey[Receiving Loss Reports]

company. Initiatives are geared toward ensuring all responsible personnel always make a considerate andReceiving a loss report from a customer is our first customer contact point in claims services. We work tohonest response to customers.

eliminate anxieties held by a customer who just had an accident by asking whether or not he/she wasinjured and what exactly happened and simultaneously giving considerate and appropriate advice.

■ Resolution Capabilities of Team Experts
We consider it our mission to provide high-quality claims services when a customer is involved in an[Initial Response]

accident. In auto insurance, smooth claim settlement requires a team approach in which highly specialized

After receiving a loss report, we confirm how the customer wishes to proceed with the accident response

and experienced staff members work as a team toward the same goal.

and provide a detailed description of the process from the beginning to the final resolution. It is only after
we consult with the customer that we will contact the parties and others concerned. We try to relieve the

At Tokio Marine & Nichido, our experienced claims service staff team up with our nationwide network ofcustomer’s anxiety by reporting back to him/her the results of contacting these parties.

highly specialized experts including adjusters, lawyers and consulting physicians as well as accountants
and tax accountants to provide the resolution capabilities of Team Experts. This allows us to protect our[Loss Adjustment]

customers in the event of an accident.

This step involves checking the status of a car or building damaged by the accident. At the same time, we
scrutinize details of necessary repairs and estimated repair costs to confirm an adequate loss amount andIn addition to our reliable and extensive network of 218 service bases nationwide, we satisfy 94.1% of our

explain it to the customer in an easy-to-understand manner.

customers who have filed claims under their insurance by exercising our sophisticated negotiating power
backed by our industry dominance with more than around 2.91 million accident settlements per year.

[Reporting Progress]
To eliminate the customer’s anxiety and provide a greater sense of security, we ensure that we

Claims Service System in Japan (As of March 2023)

report progress in an appropriate manner based on the customer’s intentions through the means ofcommunication desired by the customer.

Number of service bases

Tokio Marine & Nichido

Nisshin Fire

218

98

Approx. 10,600*

Approx. 900[Payment of Insurance Claims]

Claims service staff and adjusters

We calculate payable insurance claims and explain the details of these claims to the customer in an easy-

Lawyers

Approx. 550

Approx. 50

Consultant physicians

Approx. 100

Approx. 10

Tax accountants/Accountants

Approx. 70—

Number of automobile accident
settlements (Annual)

Approx. 2.91 million

Approx. 190,000

to-understand manner. We then work to swiftly go through the payment procedures after confirming withthe customer if he/she wants to file a claim.
We also utilize a system to check for other applicable policies and inform the possible payment of otherinsurance claims, if any, to the customer. For auto insurance, in particular, we have in place a system that2023 Sustainability Report153Basics

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6.7.5 I nitiatives to Instill Customer-Oriented BusinessConduct Policies (Business Conduct Policy 4)

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

The General Insurance Total Planner qualification is the most prestigious solicitor qualification given by
The General Insurance Association of Japan to insurance solicitation professionals who have acquired
consultation-related knowledge and operational skills on top of basic knowledge of laws, tax affairs andWorking Together with Agents to Improve Quality

other matters related to non-life insurance.

To provide safety and security that truly is based on customers’ points of view, Tokio Marine Group

Going forward, we will promote reforms toward a new business model utilizing tablet devices andendeavors to build partnerships based on trust and together improve the operational quality throughsmartphones to realize an even more comfortable experience for customers. We will work hand in handsmooth communication with agents.

with our agents to deliver quality to all customers and gain higher recognition from customers.

■ The Role of Agents in Tokio Marine Group

Nisshin Fire has also established its Customer Trust Standards for agent operations concerning contract

In auto, life and other insurance, the role of agents in Tokio Marine Group is to protect customers fromprocedures, product presentations and response to customers involved in accidents or other incidents, asrisks by providing various kinds of insurance products and services as intermediaries between customers

well as proceeding with initiatives accordingly to ensure that all its agents across Japan provide customers

and each insurance company in the Group. Agents are carrying out a broad range of consulting activities

with the same, high level of services. Additionally, Nisshin Fire’s agent commission system emphasizes

such as introducing optimal insurance tailored to the needs of each customer and quickly providing

the quality of contract procedures and responses to accidents, and the company evaluates the level of

support to deliver security to customers in the event of disasters or accidents.

achievement of operations to determine agents’ commissions.

For agents to meet customers’ expectations and trust and be indispensable persons truly relied upon bycustomers, each Tokio Marine Group company has promoted initiatives directed toward its agents such

Education and Training Systems for Agentsas various kinds of training, establishment of administrative procedures and IT systems and businessIn order to meet customer expectations and earn their trust so that customers are able to consult us aboutadministration management support.

insurance with peace of mind, we support the development of professional human resources through aqualifications system and training programs.

■ Working Together with Agents on Initiatives to Improve the Quality of Operations
At Tokio Marine & Nichido, we define Anshin (“Reassuring”) Quality Standards as specific quality standards■ Original Learning Programthat are indispensable for the products and services provided to customers and work together withIn order to foster salespersons capable of providing meticulous and excellent services to customers,

agents to improve quality. Our agent commission system is designed to not only secure and enhance our

Tokio Marine & Nichido offers a learning program that covers a broad range of operational knowledge on

operational quality to unfailingly protect customers but also to further expand the area of providing value

product details, claims services, compliance and other business-related topics. A course on Tokio Marine’s

by offering products and services matched to diversifying customer needs.

original products knowledge, in particular, is provided as a mandatory course, which salespersons musttake before they engage in product sales. Salespersons can take each course through various means,

As qualifications of excellent agents and salespersons (insurance solicitors), we use an internal system

including our online agent system (TNet).

to certify “Top-Quality Agents” and an external qualification program to certify “General Insurance
Total Planners.” The Top-Quality Agent certification is given to Tokio Marine & Nichido’s agents, which

Tokio Marine & Nichido Life provides the Tokio Marine & Nichido Life Training College training program

demonstrate a superior level of performance overall in terms of the abilities to propose insurance products

for promoting consulting sales capabilities of insurance salespersons. In this program, for roughly fourand services to customers and respond to an accident and other emergencies and business soundness,months agent salespersons and the company’s responsible employees take part together in groupstability and growth potential as an insurance agent, based on the standards specified by the company.

training and web-based training while also carrying out practical activities on the front lines of business.
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With regard to these practical activities, the company provides the latest programs for supporting■ Agent Trainee Systemsales activities of participants, such as the adoption of Antore Hiroba, a website where participants canWith a view to responding to diversifying customer needs and nurturing corporate agents’ employees

exchange information with each other. Also, the company gives salespersons opportunities to continue

who have excellent consulting capabilities to propose appropriate insurance products, Tokio Marine

helping each other to improve their skills after the completion of their training, including follow-up& Nichido has established an Insurance Planner System.

Basics

Details

GovernanceInitiatives

Sustainability
Performance Datatraining at branch offices.
Agents are increasingly required to cultivate the existing market more deeply and handle a wider
range of insurance products. In light of this development, the system allows Tokio Marine & Nichido
to accept selected employees of agents on loan for up to two years and help them quickly acquire
solicitation skills. The training system is designed to instill compliance thoroughly and ensure
consistent operational quality. It is also aimed at enabling trainees to learn specialized knowledge
about insurance products and consulting sales methods in a phased and systematic manner, acquire
more sophisticated solicitation skills and grow into highly professional solicitors when they return totheir original employers (agents). Provided via a combination of online and in-person training, theprogram also involves practical activities such as roleplaying and on-demand streaming to facilitate
the trainees’ relearning matched to their degree of understanding. In this way, the training is madeavailable more flexibly according to the degree of growth and roles of the trainees.
The system is open not only to specialized agents but also to agents in the auto, real estate andfinancial industries, and can be utilized to support agent improvement through many different
channels.
Nisshin Fire also operates the Risk Advisor Employee System, a similar trainee system to develop
specialized professional agents. The system is designed to acquire various knowledge and practicalwork experience that are necessary for selling insurance while being engaged in soliciting contracts
and related work for a certain period.

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7 Tokio Marine Group’s Governance Initiatives
7.1 Policy to Address Environmental and Social Risks
Tokio Marine Group’s business purpose has been to protect our customers and local communities byCompared to other power generation, coal-fired power generation emits more greenhousegases and also produces toxic substances such as sulfur oxides and nitrogen oxides.

providing safety and security in times of need. With this in mind, Tokio Marine Group has made it our coreidentity “To Be a Good Company” — one that can still be trusted by customers and society in their times ofneed 100 years from now.

2. Coal-fired power
generation

From our long history in the insurance industry, we have accumulated knowledge and experience thathas enabled us not just to provide safety and security but to contribute to social development as well. In
continuing to contribute toward resolving social issues, we help build a safe, secure and sustainable futurethat generates value for all of our stakeholders and our society more broadly.

3. Thermal coal mining

undertakes transactions (insurance underwriting, investments and financing) based on the customer’s
consideration for the environment and society. We position the mitigation of negative environmental
and social impacts resulting from our business activities as an important management issue that must be
4. Oil sands

guidelines.

Tokio Marine Group will strive to appropriately identify and manage risks that have a negative impact on
the environment and society in accordance with the Group’s Basic Policy on Environment and Basic Policyon Human Rights. For example, deforestation not only has the risk that has a negative impact on theappropriately, we will identify environmental and social risks based on the nature and severity of the risks
as well as recommendations from various stakeholders and will identify the sectors where such risks arelikely to occur.
■ Sector specific policies

5. Arctic oil and gas

Oil and gas extraction projects in the Arctic Circle (all areas north of latitude 66°33,
including the Arctic National Wildlife Refuge, ANWR) entail significant risks of altering thehabitats and ecosystems of rare species and marine life. We are also aware of the negative
impacts on the livelihoods and cultures of indigenous peoples.
In light of the negative impacts on ecosystems and biodiversity, as well as on theindigenous peoples’ rights, we will not undertake new business transactions (insurance
underwriting, investment and financing) for oil and gas extraction projects*2 in the Arctic
Circle.

For escalation processes for each specific sector and transaction policy on climate change risk (insurance
underwriting, investment and financing), please refer to our TCFD Report 2023.

1. Inhumane weapons

・Biological weapons・Chemical weapons
・Cluster munitions
・Anti-personnel
landmines

We recognize that oil sands mining has the potential to emit large amounts of greenhousegases compared to conventional oil and gas extraction due to that oil sands mining requires
more energy and water resources in the extraction and refining process. We also recognize therisks of infringing indigenous peoples’ rights and negatively impacting the surrounding wildlife
and ecosystems.
In light of the negative impacts on climate change, ecosystems and human rights, we will notundertake new business transactions (insurance underwriting, investment and financing) for oilsands mining projects.

■ Environmental and Social Risks to be Identified and Assessed

environment but also various risks including human rights abuses. In identifying and managing such risks

As with coal-fired power generation, the development of coal mines for power generation
projects may result in increased greenhouse gas emissions through combustion at thermal
power plants in the future. We also recognize the risks to the workers' occupational health andsafety and the impacts of hazardous waste on local biodiversity.
In light of the negative impacts on climate change, ecosystems and human rights, we will notundertake new business transactions (insurance underwriting, investment and financing) for
thermal coal mining projects*1, regardless of whether they are new projects or not.

Tokio Marine Group pays attention to the risks of negatively impacting the environment and society, andaddressed and will take appropriate measures while referencing international principles of conduct andGiven the high risk of contributing to environmental impacts such as climate change and air
pollution, we will not undertake new business transactions (insurance underwriting,investment and financing) for coal-fired power plants*1, regardless of whether they are new
projects or not.

We will not undertake business transactions (insurance underwriting, investment andfinancing) with the inhumane weapons sector, which manufactures inhumane weapons, asthese pose major humanitarian concerns.

*1 Exceptions for projects with innovative technologies and approaches, such as CCS/CCUS (carbon dioxide capture and storage / carbon
dioxide capture, utilization and storage) and mixed combustion, may be granted after careful consideration, aiming to achieve the goals of
the Paris Agreement*2 Exemptions for projects with decarbonization plans that are aligned with the Paris Agreement

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7.2 Corporate GovernanceSocialInitiatives■ Corporate Governance System
The Company’s corporate governance system is designed as a hybrid structure whereby the

To earn the trust of all people and society and achieve sustainable growth, Tokio Marine Group mustraise the quality of initiatives for “business strategies,” “governance” and “social responsibility” andbuild a structure for resilient, highly sound and transparent management as a global insurance group.
Accordingly, as initiatives serving as the basis of such a management structure, Tokio Marine Groupis making efforts for compliance, fraud prevention, information security, privacy, respect for humanrights, sustainability in the value chain and sustainable investment.

Nomination Committee and Compensation Committee are discretionarily established in addition to
the fundamental structure of a company with an Audit & Supervisory Board.
The Company believes that the above structure is optimal at this point for the following reasons.
The Company determines significant business execution by resolution of the Board of Directors as
an insurance holding company and makes high-quality decisions reflecting the insight of Outside
Directors and Outside Audit & Supervisory Board Members; Audit & Supervisory Board Members
who hold no voting rights at the Board of Directors meeting conduct unbiased and objective audits;

Through these initiatives, Tokio Marine Group will meet the expectations of stakeholders, beginningwith continuously enhancing shareholder value, and contribute to realizing a sustainable society.
■ Basic Approach to Corporate Governance
Tokio Marine Holdings (“the Company”) is committed to the continuous enhancement of corporate
value by fulfilling its responsibilities to customers, society, employees, shareholders/investors, future
generations and other stakeholders as set forth in the Tokio Marine Group Corporate Philosophy.

and the transparency of the decision-making process of nomination of and compensation for
Directors, Audit & Supervisory Board Members and Executive Officers is ensured as those matters aredeliberated at the Nomination Committee and Compensation Committee.
The Company complies with all principles of Japan’s Corporate Governance Code (including thosefor companies listed on the Prime Market). The Company will continue to make efforts to enhance its
corporate governance.
Corporate Governance Report (Last Update: June 26, 2023) (PDF / 1MB)

Corporate Governance System

For this purpose, the Company recognizes the importance of
establishing a sound and transparent corporate governance system

Fundamental Corporate Governance Policy. In this policy, theCompany defines the rights of shareholders and securing fairness,and the responsibilities of the Board of Directors, etc.
Tokio Marine Holdings Fundamental Corporate Governance Policy

General Meeting of Shareholders
Appointment/dismissal
Coordination

Independent auditors

holding company and has formulated the Tokio Marine Holdings

Sustainability
Performance Data

7.2.2 Corporate Governance System

7.2.1 Fundamental Corporate Governance Policy

and exercising appropriate control over its Group companies as a

GovernanceInitiatives

Evaluation of theappropriateness ofaccounting audit

Accounting audit

Appointment/dismissal

Audit & Supervisory
Board Members(Audit & Supervisory Board)
Business
Execution
SectionAppointment/dismissal
Recommendations

Audit

Management Meeting

Coordination

Internal Audit Section

Board of Directors (Directors)

Internal audit

Internal audit

Recommendations

Compensation Committee

Planning and
Administrative Section

Subsidiaries, etc.

Nomination Committee

Reports

Internal Control Committee

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Performance Data

• Structure of the Board of Directors

The Compensation Committee shall deliberate on the following matters and otherwise and report

The Board of Directors is responsible for deciding on important matters relating to the execution of

to the Board of Directors: Evaluation of the performance of the President & Chief Executive Officer,

the Company’s business such as determining the Group’s business plan and various basic businessDirectors (full-time) and Executive Officers; the compensation system and the level of compensation

policies, supervising the performance of individual Directors and establishing an effective internal

for the President & Chief Executive Officer, Directors and Executive Officers; and policy forcontrol system.

determination of compensation for Directors, Audit & Supervisory Board Members and Executive
Officers.

As a general rule, one-third or more of the Company’s Directors shall be Outside Directors. In
addition, Directors are appointed for a term of office of one year and may be reappointed. To

As a general rule, a majority of the members of each committee is selected from outside of theensure its effectiveness, the Board of Directors shall have a balanced composition based on various

Company, and the chairman of each committee is one of the outside members.

viewpoints of diverse fields, gender, internationality, career and age as well as specialized knowledge.
As of the end of June 2023, the Company had 15 Directors, of whom seven were Outside Directors.

• Conditions for Selection of Directors and Audit & Supervisory Board Members

The schedule of the Board meeting is carefully planned to ensure that the attendance rate of the

Directors of the Company and its principal business subsidiaries shall have a deep understanding ofBoard of Directors is 100%.

the Company’s business type, possess a wide range of knowledge required for management, and as amember of the Board of Directors, have the ability to make decisions that are necessary to determine• Audit & Supervisory Board Members and Structure of the Audit & Supervisory Boardsignificant business execution matters. Audit & Supervisory Board Members of the Company and

Audit & Supervisory Board Members, as an independent body entrusted by shareholders, audit theits principal business subsidiaries shall have operational abilities and previous achievements andperformance of Directors, with the aim of ensuring sound and fair management and accountability.

experience, etc., as Audit & Supervisory Board Members, and through implementation of high quality

Audit & Supervisory Board Members shall endeavor to conduct a high-quality audit in accordance

audits, secure sound and continuous growth of the Company, contributing to the establishment of awith the auditing standards, auditing policies and auditing plans determined by the Audit &superior corporate control system that can respond to societal trust.

Supervisory Board.
 utside Officers• O
As a general rule, a majority of the Company’s Audit & Supervisory Board Members shall be Outside

The presence of Outside Directors ensures the effective supervision of director performance by the

Audit & Supervisory Board Members. As of the end of June 2023, the Company had five Audit &Board of Directors. In addition, Outside Directors provide advice based on their insight as experts inSupervisory Board Members, of whom three were Outside Audit & Supervisory Board Members.

various fields, thus ensuring an organization that enables appropriate decisions on important mattersrelating to the execution of the Company’s business. The presence of Outside Audit & Supervisory• Structure of the Nomination Committee and Compensation Committee

Board Members creates an auditing organization with an independent and objective perspective.

The Company has established the Nomination Committee and the Compensation Committee, which

Moreover, it enhances the effectiveness of the Audit & Supervisory Board and ensures an organizationconsist mainly of Outside Directors, to raise the transparency of the processes for selecting as well asthat maintains sound, transparent management.

determining compensation for Directors, Audit & Supervisory Board Members and Executive Officersof the Company and principal business subsidiaries.

As of the end of June 2023, the Company has seven Outside Directors and three Outside Audit& Supervisory Board Members, all of whom satisfy the independence requirements of the Tokyo

The Nomination Committee shall deliberate on and report to the Board of Directors the appointment

Stock Exchange and are registered as independent directors/auditors. Additionally, Tokio Marineand dismissal of as well as appointment criteria and dismissal policy for the President & Chief
Executive Officer, Directors, Audit & Supervisory Board Members and Executive Officers.
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Performance Data

Holdings has its own standards for determining independence (Exhibit of the Tokio Marine Holdings<Evaluation results>

Fundamental Corporate Governance Policy), and as a general rule, selects individuals who satisfy

A third-party organization evaluated that the Company’s Board of Directors is highly effective in its

these standards as its Outside Directors and Outside Audit & Supervisory Board Members. Currently,

roles, as many important management issues are discussed under appropriate agenda setting andall 10 individuals satisfy these internal standards as well.

management, with the chairperson, internal and external Directors and Audit & Supervisory Board
Members fulfilling their respective roles and functions appropriately. The results aligned with the valuation of the Effectiveness of the Board of Directors•E

Board’s own evaluation results. We have also received the following suggestions from the Directors

Once a year, the Company evaluates the effectiveness of the Board of Directors with the aim ofand Audit & Supervisory Board Members and will make appropriate responses in the future.

further fulfilling its functions. In fiscal 2022, the Company conducted its first evaluation of the Board’s
effectiveness using a third-party organization.
<Evaluation method>A third-party organization conducted a questionnaire survey and interview with all Directors andSummary of suggestion

Response

Efforts should be made to secure more discussiontime, and discussion themes should be examinedfurther.

We will work to add more opportunities for holding Board
meetings and secure more discussion time.

It would be better to share more details of the
discussions by the Nomination Committee andthe Compensation Committee with the Board of
Directors.

We will work to enhance the details of reports made to theBoard of Directors after clarifying what should be reported to
the Board.

Audit & Supervisory Board Members and fed back the details of analysis and evaluation results while
assuring anonymity. Based on the analysis details and evaluation results, the Board of Directors
discussed the current status of the Board and the response needed in the future. The questionnaire
and interview mainly covered the following topics.
• Roles and functions of the Board• Size and composition of the Board• Operation status of the Board• How discussion is held by the Board and related issues• Evaluation of the chairperson and how he/she should function• Compensation for Directors, Audit & Supervisory Board Members and Executive Officers
The Company shall ensure transparency, fairness and objectivity when determining compensation for
Directors, Audit & Supervisory Board Members and Executive Officers. The following structure shallapply to compensation for Directors, Audit & Supervisory Board Members and Executive Officers.

• Changes in institutional designing• Response to the results of last year’s evaluation of effectiveness•C omposition, roles and operation status of the Nomination Committee and the Compensation
Committee• Support system for Outside Directors• Governance system of the Company and overall effectiveness of the Board• Self-evaluation of the functioning of the Directors and Audit & Supervisory Board Members

Applicable personnel

Fixed compensation

Performance-linked
compensation

Stock compensation

Directors (Full-Time),
Executive Officers

○

○

○

Outside Directors,
Directors (Part-Time)

○

ー

○

Audit & Supervisory
Board Members

○

ー

ー

* With respect to the component ratios of each type of compensation within the base amount of compensation for Directors
and Executive Officers, in principle, the higher their positions, the greater the ratios of performance-linked compensation andstock compensation become.

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Initiatives

Details

The purpose of each type of compensation is as described below.

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

As a result, we have revised our existing system of performance-linked compensation, whichhas previously provided appropriate incentives based on individual performance against theCompensation type

Purpose

Performance-linked
compensation

Performance-linked compensation reflects the performance of an organization or an individual
against the predetermined corporate and individual targets and is introduced to strengthen
individuals’ incentives to raise the Company’s corporate value.

Stock compensation

Stock compensation is linked to the Company’s share price and is introduced to encourage therecipients to fulfill their accountability to shareholders by sharing returns on the Company’s
shares with them.

predetermined targets, to reflect ESG-related factors in the system. Specifically, in fiscal 2022 we
added “employee engagement indicators” and “sustainability strategy indicators” to KPIs used todetermine the portion of compensation linked to corporate business results.
In the future, we seek to continuously upgrade our performance-linked compensation system andrealize equally high levels of incentives and accountability based on new developments in internal
discussions about our sustainability strategy and the maturity of the methods used to evaluate nonfinancial indicators in the market or trends in creating new ones.

The Board of Directors shall set the basic level of compensation for each position held by Directors■Strengthening Governance through Integrated Group Managementand Executive Officers and determine the total amount according to their responsibilities, while

Through the function-based chief officer system and Global Committees, etc., the Company utilizes

taking into consideration factors such as the business performance of the Company and the level of

its global expertise and knowledge to solve the Group management issues.

compensation in other companies.
Key Management Matters

Of the different types of compensation for Directors and Executive Officers, fixed compensationand performance-linked compensation shall be paid monthly, while stock compensation shall bedelivered upon resignation.
The Board of Directors shall determine the details of compensation to individual Directors andExecutive Officers and other important matters concerning compensation to Directors, Audit &Supervisory Board Members and Executive Officers. Decisions on any matter requiring consultations
with the Compensation Committee shall be made after obtaining opinions of the said Committee.

Key Global Committees

ERM

ERM Committee

CFO (Financial)

M&A

International Executive Committee

Head of International Business

Underwriting

Global Retention Strategy Committee

CRSO (Retention Strategy)

Reserving

International P&C Reserving Actuary Committee

Chief International Actuary

Investment

Investment Executive Roundtable

CIO (Investment)

Risk management

International Risk Committee

CRO (Risk)

IT / Security / Digital

Global IT Committee
Digital Round Table

CITO (Information Technology)
CISO (Information Security)
CDO (Digital)

Sustainability

Sustainability Committee
GX Round Table

CSUO (Sustainability)
Head of International Business

Diversity

Diversity Council

CDIO (Diversity & Inclusion)

Internal Audit

International Internal Audit Committee

International Head of Internal Audit<Officer compensation to promote ESG initiatives>
For Tokio Marine Group, our initiatives for sustainability and ESG are part of our business aims
themselves. It is our belief that we can realize sustainable growth for the Company as a result ofsolving social issues through our business. To further advance our ESG initiatives, the Compensation
Committee has continuously discussed whether to reflect the outcomes of ESG initiatives in our

Key Persons

existing performance-linked compensation while ensuring governance in terms of compensation for
Directors, Audit & Supervisory Board Members and Executive Officers, based on the thinking that thedegree to which initiatives are accomplished ought to serve as incentives.

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Initiatives

Details

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Sustainability
Performance Data

7.2.3 Internal Control■ Internal Control System

Tokio Marine Holdings

The Company has formulated the Basic Policies for Internal
Controls. In accordance with these policies, the Company has
established an internal control system for the entire Tokio

Coordination

Audit & Supervisory Board Members(Audit & Supervisory Board)

Board of Directors(Directors)

Audit

Marine Group that encompasses structures for management
Office of Audit &Supervisory Board

control, compliance, risk management and internal auditingof Group companies. In addition, the Company monitors theReportAudit

Management Meeting

status and practical application of its internal control system.
The Internal Control Committee deliberates on the results ofthis monitoring, and the Board of Directors confirms the detailsof these deliberations. Moreover, the Company continually

Financial
Auditors

strengthens and improves its internal control system in light

Internal Control
Committee

Evaluating theappropriateness ofan accounting audit

P

Director in Charge ofInternal ControlsAof the results of this monitoring. The Internal Audit Section
maintains close coordination with Audit & Supervisory Board
Members to ensure the effectiveness of their audits.

Internal Control Audit
Accounting Audit

D

C Check
A Act

CCoordination

Tokio Marine Holdings’ Basic Policies for Internal Controls

P Plan
D Do

Internal Audit

Internal Audit Section

Respective Sections
Basic Policies for Internal Controls

Compliance

CustomerProtection

Information
Security
Management

Response to
Antisocial
ForcesRisk
Management

Auditorʼs
Audit

Internal Audit

Management, Guidance, Adjustments, Monitoring, Reporting, other sGroup Companies
Domestic
Insurance Business

Domestic Life
Insurance Business

International
Insurance Business

Finance andOther Businesses

P

P

P

P

A

D
C

A

D
C

A

D
C

A

D
C

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7.3 Compliance
Tokio Marine Group defines compliance as “observing applicable laws,
rules and regulations and internal regulations and conducting fairand equitable business activities within social norms” and thoroughly
implements compliance in this manner.
The Company has formulated the Tokio Marine Group Basic Policies
for Compliance and the Tokio Marine Group Code of Conduct. The
Company has maintained the Compliance System for the entire Groupin accordance with the Policy and the Code. Also, the Company has
built a structure to ensure group-wide compliance by periodicallymonitoring the status of compliance within the Group; receiving
reports from Group companies on important compliance matters;
discussing these matters among the Board of Directors, Management
Meeting and the Internal Control Committee; and providing guidanceand support about the activities of Group companies when necessary.
Group companies proactively undertake thorough compliance inaccordance with the Tokio Marine Group Basic Policies for Compliance,
etc. In addition, Group companies have created compliance structures
suited to the content of their respective businesses while reportingto the Company on the status of thorough compliance and important
issues concerning compliance.
Tokio Marine Holdings: Compliance

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

7.3.1 Compliance System
Tokio Marine Group has in place a structure under which the Internal Control Committee, a committee of the Board of Directors,
receives reports on the monitoring results for the implementation and operation status of compliance (encompassing preventionof bribery and corruption) and deliberates on these results as needed, with the supervision of the Board of Directors.
When an important compliance-related case occurs in a Group company, we make an appropriate response under the supervisionof the Group Chief Legal and Compliance Officer (CLCO) of Tokio Marine Holdings and report it to the Board of Directors.
As a department in charge of the prevention of bribery and other forms of corruption, the Legal and Compliance Department of
Tokio Marine Holdings has stipulated the Group’s relevant response policy. The management and supervision of the policy are theresponsibility of the CLCO.

Tokio Marine Holdings
Audit & Supervisory Board Members(Audit & Supervisory Board)

Board of Directors

Internal Control Committee

Management Meeting

Legal and Compliance Department, Individual Business Divisions
Indication of basic policies, guidance,
administration, monitoring

Tokio Marine Group Code of Conduct

Audit & Supervisory Board Members(Audit & Supervisory Board)

Reporting, etc.

Group Companies
Board of Directors

Compliance Committee, etc. (Tailored to actual conditions at each company)
Compliance Department

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7.3.2 Compliance-Related Initiatives (Compliance Manual,SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Datayear)*. We conduct appropriate investigations and responses concerning these reports and inquiries,

Compliance Training and Evaluation and Improvement
Activities)

and when a compliance or other violation is confirmed, implement corrective measures and measures

Based on the Tokio Marine Group Compliance Standards formulated by the Company, the Company

we will never allow persons making reports or inquiries and those cooperating in investigations to be

and Group companies have prepared their own compliance manuals and have made these manuals

exposed to negative consequences because of their actions and keep details of reports and inquiries

well known to directors, officers and employees. These compliance manuals explicitly stipulate eachstrictly confidential. We also accept anonymous reports and inquiries.

to prevent recurrence. The reports and inquiries made through the hotlines have led to prevention,
early detection and correction of misconduct. Additionally, we clearly specify in our regulations thatcompany’s approach to compliance (including the Compliance Code of Conduct), a structure topromote compliance and a response to be made when finding a problem or receiving a customer

Group companies in Japan have established a system necessary to respond to whistle-blowing incomplaint.

accordance with the Amendment to the Whistleblower Protection Act, which came into effect onJune 1, 2022.

At Tokio Marine Group, each company provides risk-based periodical training to all employees(including part-time and dispatched employees) to nurture compliance awareness and impartknowledge on compliance needed in their respective operations. The training covers laws,* O f the reports and inquiries received in fiscal 2022, the number of cases related to harassment and other human rights
infringements (including those found non-infringement as a result of investigations) was 115.

regulations and internal rules concerning anti-corruption (including the prohibition of bribery) and7.3.4 Anti-Corruption Initiatives

ethical standards, with which directors, officers and employees must comply. Each year, we also

Tokio Marine Group formulated the Tokio Marine Group Sustainability Charter in 2004. It states, “While

conduct a risk assessment and risk-based internal audit on all operations as well as the Group’s ethicalstriving to maintain high ethical standards at all times, we will pursue strict compliance in all aspects

standards, anti-corruption policies and other compliance-related matters.

of our business activities.” With this in mind, we are committed to promoting fair operating practices(including anti-corruption) in accordance with international standards. Pledging agreement with

In addition, the Group monitors the effectiveness of measures to ensure compliance through self-

the intent and purpose of the United Nations Global Compact (UNGC) in 2015, we are working on

assessments by each Group company and internal audits by the Company and Group companies.

activities based on The Ten Principles of the UNGC relating to human rights, labor, the environment

Tokio Marine & Nichido's employees performance appraisal system

and anti-corruption. Our anti-corruption activities are designed to help us become a “Good Company”
and are indispensable in the creation of a sustainable future.

7.3.3 Hotline System (Internal Whistle Blower System)

As specific efforts to prevent bribery, we state in the Tokio Marine Group Code of Conduct that we

There may be cases where it is not appropriate to report a compliance violation or possible

shall not give any improper entertainment, gifts, benefits or other advantages to a public official orcompliance violation (including cases related to corruption, human rights of workers and laborto a person who holds a status equivalent thereto. At the same time, under the Tokio Marine Groupissues) through a usual reporting channel set up within the organization. To prepare for such cases,

Policies for Prevention of Bribery, Group companies in and outside Japan have been working to

we operate internal and external hotlines (whistle blower contact points) to receive reports andestablish an appropriate management system and regulations to prevent bribery, including rules forinquiries from directors, officers and employees of Group companies around the clock, 365 days amaking donations to or sponsoring charity projects.

year. From Group companies outside Japan, we accept reports and inquiries in 18 major languages,
and each Group company communicates the existence of these hotlines through various means.

These regulations require the introduction of processes for creating and maintaining accurate
accounting records, giving prior approval and making after-action reports based on related risks in

In fiscal 2022, the Group received 316 reports and inquiries (110% compared to the previous fiscal

order to prevent company expenses from being used for bribery.
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7.3.5 Response to Anti-Social Forces

7.3.6 Prevention of Money Laundering

Tokio Marine Group has formulated the Tokio Marine Group Basic Policies Concerning Responses

Tokio Marine Group has formulated the Tokio Marine Group Policy for Anti-Money Laundering andto Anti-social Forces so that Group companies can resist anti-social forces and make concerted andCounter-Terrorist Financing and has been making group-wide efforts to prevent money laundering,

uniform responses. Initiatives are being promoted based on the basic stance stipulated in theseterrorist financing and financing of the proliferation of weapons of mass destruction (collectively,

policies and the Basic Principles to Prevent Damage from Anti-Social Forces.

“Money Laundering, etc.”).

[Tokio Marine Group Basic Policies Concerning Responses to Anti-social Forces (Excerpt)]<Basic Stance>
Article 4: To ensure it consistently undertakes fair management and widely contributes tothe development of society as a good corporate citizen, Tokio Marine Group shall sever all
relationships with anti-social forces and forcefully repudiate any illicit demands made by themas a basic matter in the application of its Corporate Philosophy. In association with lawyers,
police and other professionals, it will respond to anti-social forces in an uncompromising andorganized manner.

[Tokio Marine Group Policy for Anti-Money Laundering and Counter-Terrorist Financing<Basic Principles to Prevent Damage from Anti-Social Forces><Development of Internal Control Framework for the Prevention of Money Laundering, etc.>❶ Take action as a unified organization(Excerpt)]<Basic Concept>
Article 4: Tokio Marine Group, as a corporate group operating globally, shall, in order tofulfill its responsibilities in the international community, endeavor to prevent its business
operations from being exploited for the purpose of Money Laundering, etc.

Article 5: Based on this Policy, Tokio Marine Holdings and Tokio Marine Group Companies

With regard to illicit demands from anti-social forces, we will take action as a unified

shall develop an internal control framework for the prevention of Money Laundering, etc.

organization without leaving it to the person or the department in charge. In addition,
we will ensure the safety of officers and employees who are tasked with handling illicit
demands from anti-social forces.

that is consistent across the entire Tokio Marine Group.

❷ Contact relevant external institutions that specialize in such matters

2. The organizational scheme for ensuring the proper implementation of this Policy is asfollows.

In preparation for illicit demands from anti-social forces, we will always endeavor to build(1) Tokio Marine Holdings has designated its Legal and Compliance Department as

relationships of close cooperation with external specialized institutions, including police,anti-violence promotion centers and lawyers, and coordinate with such institutions asnecessary in case illicit demands are made.

the department responsible for overall control of the activities for preventing Money❸ S ever all known relationships, including transactions

We will not have any relationship with anti-social forces, including business relationships(including transactions through business partners). We will also repudiate any illicit
demands from anti-social forces.
❹ Take legal action at either the civil or criminal level for any contingency

We will take both civil and criminal action against illicit demands from anti-social forces.
❺ Prohibit backroom deals and funding

Laundering, etc. across the entire Tokio Marine Group and also designated the executive
officer responsible for that department as the person with overall responsibility for suchactivities.
(2) Each Designated Company shall set up a department controlling its own activities forpreventing Money Laundering, etc. and appoint an officer with overall responsibility forsuch activities.

We will never make backroom deals to cover up a case even if a misconduct of a Tokio

3. Based on this Policy, Tokio Marine Holdings and the Designated Companies shall each

Marine Group company has resulted in an illicit demand from anti-social forces. We will
never provide funds to anti-social forces in any form, such as giving rebates, inflating
profits or dispatching employees.

in the prevention of Money Laundering, etc., including the establishment of policies, rules,

establish management systems that are necessary for them to perform their respective roles
etc., and the creation, evaluation and improvement of organizational structures, etc.

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7.3.7 Initiatives Concerning Appropriate Tax Reporting
Tokio Marine Group has formulated the Basic Policies for Accounting and the Group’s Basic Policy

With regard to tax compliance, considering that proper tax payment is a corporate social

for Internal Controls over Financial Reporting and established a structure for ascertaining the

responsibility and that the strengthening of the international taxation framework is progressing

Company’s consolidated financial condition and the financial condition of Group companies andrapidly, Tokio Marine Group files highly transparent and appropriate tax returns for the entire Groupfor appropriately undertaking approval and reporting procedures directed at shareholders andin accordance with the following Global Tax Policy.

supervisory agencies as well as for tax reporting.

[Tokio Marine Group Global Tax Policy]❶ Basic Approach❸ Achieving Appropriate Tax Payments

Tokio Marine Group is committed to the continuous enhancement of its corporate value, with

T he Group comprehensively manages all business endeavors, including any relevant tax

customer trust at the base of all its activities.

considerations. The Group ensures that where appropriate the Group applies tax incentives,
exemptions and allowances, optimizing its tax position.

Not only does the Group assiduously comply with all local tax laws and regulations in the countries
where there are operations, there is also a strong commitment to respect the traditions, cultures

All tax planning initiatives follow the substance and purpose of our business activities. The Groupand practices in these countries. Business is conducted in a fair and equitable way conforming withdoes not engage in tax planning such as using tax-free or low tax jurisdictions (known as tax

social norms. The tax policy follows this commitment and the Group seeks to maintain a robust tax

havens) solely to reduce tax, without a suitable commercial rationale or in a way contrary to the

management framework, whilst achieving appropriate tax payments through understanding andpurpose of relevant tax laws and regulations.

applying tax rules.
❹ Approach to Tax Risk

This approach is intended to further enhance corporate value.

The Group is cautious to review potential significant tax risks before making business decisions. The
Group carries out necessary due diligence and consults with external experts and tax authorities❷ Maintaining a Robust Tax Management Framework

as required. The Group proactively manages transfer pricing and ensures that inter-company

In accordance with “Tokio Marine Group Basic Policies for Accounting,” the Group ensures timelytransactions are conducted based on the arm’s length principle, in accordance with OECD transfer

and appropriate tax compliance, including return submissions. The Group also adheres to thepricing guidelines and applicable local tax rules. The Group complies with all necessary transfer

relevant tax rules, such as OECD transfer pricing guidelines.

pricing documentation requirements.

Tokio Marine Holdings strives to maintain a robust tax management framework utilizing effective
cooperation throughout the Group.

❺ Relationship with Tax Authorities

T he Group is transparent in its dealings with tax authorities and proactively manages therelationship with these authorities, based on open communication and presentation of the relevantfacts as appropriate.

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GovernanceInitiatives■ Income Taxes by Country and Region (Fiscal 2022)
Country & region

Japan

United States

Ordinary
income42,29222,088Sustainability
Performance Data

(Billion yen; people)

Incomebefore tax

2,362

3,277

Amount of
tax incurred

723

Amount of
tax paid

1,416

757

751

Number of
employees

35,808

9,877

Major subsidiaries

Major business

Tokio Marine & Nichido Fire Insurance Co., Ltd.

Domestic non-life insurance

Nisshin Fire & Marine Insurance Co., Ltd.

Domestic non-life insurance

E. design Insurance Co., Ltd.

Domestic non-life insurance

Tokio Marine Millea SAST Insurance Co., Ltd.

Domestic non-life insurance

Tokio Marine & Nichido Life Insurance Co., Ltd.

Domestic life insurance

Tokio Marine Asset Management Co., Ltd.

Financial and general businesses

Tokio Marine North America, Inc.

International insurance

Philadelphia Consolidated Holding Corp.

International insurance

Delphi Financial Group, Inc.

International insurance

HCC Insurance Holdings, Inc.

International insurance

Privilege Underwriters, Inc.

International insurance

Brazil

2,925

201

51

56

2,257

Tokio Marine Seguradora S.A.

International insurance

United Kingdom

3,998

427

79

41

1,411

Tokio Marine Kiln Group Limited

International insurance

Thailand

1,132

85

17

30

2,595

Tokio Marine Safety Insurance (Thailand) Public Company Limited

International insurance

Tokio Marine Asia Pte. Ltd.

International insurance

Tokio Marine Life Insurance Singapore Ltd.

International insurance

Tokio Marine Insurans(Malaysia) BerhadInternational insurance

Other countries and regions

3,997(2,078)

76

(35)

5,578

Consolidation adjustment, etc.

(9,949)

1,017

—

—

—

Total

66,486

5,293

1,705

2,261

57,526* Information by country/region follows the method of data aggregation used in an official report by country.

■Efforts for Maintaining a Robust Tax Management Framework
In order to maintain a robust tax management framework throughout the Group, we periodically holdto explain points to be noted regarding standards of international taxation and share information ongroup meetings, either in person or remotely, with persons responsible for tax affairs in Group companies

revisions to taxation systems of major countries.

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7.4 Enterprise Risk Management (ERM)
7.4.1 ERM Framework
Tokio Marine Group is committed to Enterprise Risk Management (ERM) as a pillar of management topromote the Mid-Term Business Plan. Specifically, we are constantly aware of the relationship between“risk,” “capital” and “profit,” and by achieving “sufficient capital” and “high profitability” in relation to risk, wewill strive for the sustainable expansion of corporate value.

7.4.2 Tokio Marine Group’s ERM Structure
The risks surrounding Tokio Marine Group are becoming more diversified and complex due to global
business development and changes in the business environment. In addition, in today’s uncertain andrapidly changing political, economic and social climate, we must constantly watch for the emergenceof new risks and take appropriate action. From this point of view, we are not limited to conventional risk
management for the purpose of risk mitigation and avoidance, but are comprehensively assessing risk inqualitative and quantitative ways.
In addition, we are undertaking ongoing efforts to further reinforce our ERM structure. These include
increasing the sophistication of risk assessment, such as cyber and other risks that are difficult to quantify,
and strengthening natural disaster risk management, including revisions to our reinsurance scheme.

7.4.3 Q ualitative Risk Management
In qualitative risk management, all risks, including risks that emerge due to changes in the environment,
are identified and reported to management, while risks to the Group are discussed at the managementlevel as needed. Risks identified in this manner are evaluated not only in terms of the economic loss or
frequency of occurrence but also in terms of business continuity and reputation. Risks that have a large

SocialInitiatives

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Performance Data

<Examples of emerging risks>
Emerging risks/Scenarios

Examples of responses❶ Progressive deterioration of public infrastructure
and corporate facilities◯ Risk that insurance payouts will increase as growing
deterioration of public infrastructure and corporate
facilities leads to frequent major accidents

Response to economic impact● Appropriately assess risks and develop products that meetcustomer needs, while generating stable profits throughrisk-appropriate underwriting, risk diversification andarranging reinsurance●With respect to (4) shown at left, engage in research andanalysis on the impacts of climate change❷ Space risk
◯ Risk that insurance payouts will increase due
to widespread power grid failures caused bygeomagnetic storms and frequent communication
disruptions resulting from space weather andincreased space debris❸ Innovations in medicine and biotechnology◯ Risk that insurance payouts will increase due
to innovations in cancer diagnosis and genetic
diagnosis technologies❹ Global warming (physical risks of climate change)◯ Risk that insurance payouts will increase due tointensifying environmental degradation and disasters
caused by global warming❺ Inadequate response to decarbonization (climatechange transition risk)◯ Risk of a decline in value of invested companies thatlag behind in transitioning to a decarbonized society,impacting the value of the Group’s assets◯ Risk that the Group’s efforts toward decarbonization
are perceived as inadequate by society, damaging
our reputation

Response to the impact on business continuity andreputation● Publicly disclose our fundamental approach to climatechange, underwriting and investment policies and theinitiatives based on these, and exchange opinions withexperts and advisors in the climate field❻ Delayed response to stricter global focus onhuman rights◯ Risk that Tokio Marine Group’s efforts regarding
respect for human rights are perceived as inadequate
by society, damaging our reputation

Response to the impact on business continuity andreputation● Publicly disclose our fundamental approach to humanrights, human rights basic policies, management structure
for respect of human rights, guidelines for responsible
procurement and initiatives based on these, and exchange
opinions with experts and advisors in the human rights
field

impact on the financial soundness and business continuity of the Group or of individual Group companies
are identified as “material risks.” For identified material risks, we assess the sufficiency of capital throughthe quantitative risk management process described below, draw up control measures before the risks
emerge and countermeasures* to be taken if the risks do emerge, and conduct plan-do-check-act (PDCA)
management.
* Pre-emergence risk control measures include monitoring and centralized risk management based on the market environmentand regulatory trends, while post-emergence risk response measures include manuals (including business continuity plans)
and mock drills.

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<Material risks for fiscal 2023 and main anticipated scenarios>
Material risks/Scenarios❶ Domestic or overseas economic crisis, chaos infinancial and capital markets◯ The value of the Group’s assets may fall due to a global
economic crisis on the magnitude of the 2008 global
financial crisis, or turmoil in financial and capital
markets caused by geopolitical risk.
❷ Loss of confidence in JGBs
◯ The value of the Group’s assets may fall as Japanese
government bonds (JGBs) plummet in value due to a
decline in the government’s creditworthiness or the
emergence of hyperinflation.
❸ Major earthquakes◯ A major earthquake beneath Tokyo or along the
Nankai Trough may lead to significant human andmaterial losses, causing widespread disruptions tosocial and economic activities, including those of theGroup, resulting in large insurance payouts.
❹ Major wind and flooding disasters (including
physical risks of climate change)◯ Major typhoons or torrential rains may cause extensive
physical damage, leading to significant disruptions insocial and economic activities, including those of theGroup, resulting in large insurance payouts.
❺ Volcanic eruptions◯ The eruption of Mount Fuji or similar volcanic activities
could result in widespread physical damage due tovolcanic ash and other effects, leading to significant
disruptions in social and economic activities, including
those of the Group, resulting in large insurance payouts.
❻ Pandemics◯ The widespread outbreak of a new highly fatal infectious
disease could result in significant insurance payouts.
❼ Cyber risk
◯ A cyberattack targeting many Group customers
or supply chains may lead to significant insurance
payouts.
◯ A cyberattack targeting the Group’s systems may resultin the leakage of sensitive information and disruptions
to business operations.

Examples of responses

Material risks/Scenarios

Examples of responses

Response to economic impact● Investigate the impact on the market due to geopoliticalrisks● Control exposure through credit risk aggregation andmanagement● Conduct stress tests to confirm capital adequacy andfunding liquidity● Establish action plans for financial crises and interest rateincrease risks❽ Inflation◯ Due to soaring raw material costs and rapid increases
in global prices, insurance payout costs rise, resulting
in diminished underwriting profits from the inability torevise products in line with risks or secure reinsurance.

Response to economic impact● Analyze the impact of inflation on insurance products andundertake product revisions and underwriting
commensurate with risk

❾ Disruptive innovation◯ Innovations that drastically reshape industry structures
through digital transformation and innovative newentrants may erode the Group’s competitive advantage
and lead to significant reductions in premium income
and profits.

Response to economic impact● Ensure the competitive advantage of our insurance
business by implementing basic strategies and executing
projects for digital transformation● Expand into new businesses, primarily in areas closelyaligned with our insurance operations❿ Continued mutation of the COVID-19 virus◯ The continued mutation and sustained spreadof COVID-19 may lead to disruptions in businessactivities.

Response to the impact on business continuity andreputation● Establish crisis management systems and business
continuity plans, and verify their effectiveness throughemergency drills (Response to economic impact is detailedin (1) above)

Response to economic impact● Appropriately assess risks, including risk aggregation, anddevelop products that meet customer needs, while
generating stable profits through risk-appropriate
underwriting, risk diversification, and arranging
reinsurance● With respect to (3), (4), and (6) shown at left, conduct stresstests to confirm capital adequacy and funding liquidity
Response to the impact on business continuity andreputation● Establish crisis management systems and business
continuity plans and verify their effectiveness throughemergency drills● With respect to (7) shown at left, develop cybersecurity
measures, and verify their effectiveness throughemergency drills⓫ Geopolitical risk
◯ Escalation of tensions between nations into military
conflicts could lead to extensive human and material
damages, leading to significant disruptions in socialand economic activities, including those of the Group.

⓬ Conduct risk
◯ Deviation between industry and corporate practices
and societal norms could lead to the perception thatthe initiatives of Tokio Marine Group are inadequate
by society, damaging our reputation.

Response to the impact on business continuity andreputation
 onduct surveys on employee awareness and behavior, and●Cenhance the efforts of the Group by compiling and sharing
best practices⓭ Violation of laws and regulations◯ Non-compliance with regulations concerning personal
data protection, anti-money laundering and thereinforcement of economic sanctions related to the
U.S.-China tensions and the Ukraine conflict may resultin the imposition of fines and penalties and harm theGroup’s reputation.

Response to the impact on business continuity andreputation● Monitor domestic and international social environments,
trends in government agencies and changes in regulatory
requirements, and take necessary measures accordingly

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7.5 Responding to Disasters■Building a Structure for Paying Insurance Claims in the Event of a Disaster Striking the Tokyo■Basic Policy for Responding to Disasters (Tokio Marine & Nichido)

At Tokio Marine & Nichido, should the head office facilities in particular become unusable because of aIn the event of a natural disaster such as an earthquake or a typhoon, Tokio Marine & Nichido has a crucial
social mission of ensuring that it can continue its important business operations as a non-life insurer suchas receiving loss reports, paying claims, maturity refunds and other payables and concluding policies inboth the disaster-stricken area and elsewhere.
Therefore, Tokio Marine & Nichido has prescribed the following two points as its Basic Policies of theBusiness Continuity Plan for Disasters and formulated a business continuity plan (BCP).
Tokio Marine & Nichido’s Business Continuity Plan for Disasters, excerpt (PDF/216KB) (in Japanese)

Metropolitan Area
natural disaster striking the metropolitan area, such as a major earthquake or large-scale flooding due toa typhoon, earthquake claims cases for residential earthquake insurance shall be handled in the Kansai
region. Additionally, backup offices shall be established at multiple bases throughout Japan, including in
the Kansai region, and claims payment service responses, excluding on-site assessments after receiving
claims, shall be made by all branches throughout Japan.
If the metropolitan area is struck by a disaster, a Claims Service Headquarters would be set up within
the Head Office Disaster Response Headquarters. At the same time, a satellite office led by the Claims
Service Department in charge of Tokyo, Chiba, Saitama and Kanagawa prefectures shall be set up and will
accept support personnel from throughout Japan and handle customer responses, mainly on-site claims<Basic Policies of the Business Continuity Plan for Disasters>

assessments, in disaster-stricken areas.

❶ Principles of employees’ conduct

The priority order for employees’ conduct in times of disasters is as follows.

The infrastructure needed to provide claims services swiftly to the metropolitan area in the event of a

• Assure the safety of human life

natural disaster has been built in advance in the locations where the above-mentioned backup offices• Cooperate in securing the safety of local communities

and satellite offices would be established. In this way, a structure for claims payment services during• Continue important operations (business continuity)

times of emergency is being established. Non-earthquake regular claims cases in the disaster-stricken
metropolitan area shall be allocated to and handled by claims service bases throughout Japan prescribed

In other words, the principle of employees’ conduct is to give precedence to “assure the safety of humanin advance. Preparations are underway to quickly establish a structure to respond to a situation when anlife” and “cooperate in securing the safety of local communities” before conduct related to “business

infectious disease breaks out simultaneously during a natural disaster.

continuity.”❷ Basic policy for business continuity

The following three business operations shall be regarded as important during a disaster. Management
resources (personnel, funds) shall be accordingly transferred as needed and top priority shall be given to
the continuation of these important business operations.
• Receiving of loss reports• Payment of claims, maturity refunds and other payables• Conclusion of insurance contracts

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7.6 Information Security
We have appointed the Director (Managing Director) in charge of the Legal and Compliance Department<Tokio Marine Group Privacy Policy> (Excerpt)

as the Group’s Chief Information Security Officer (CISO) and designated the Legal and ComplianceDepartment as the controlling department supervising information security for the entire Group. Each

Tokio Marine Group (the “Group”) is committed to the continuous enhancement of corporate

Group company has also established sections in charge of information security. In this manner, thevalue, with customer trust at the foundation of all its activities. Guided by this corporate

Group is working to build an effective management structure for information security (including privacy).

philosophy, we, the Group, shall take all possible measures to protect customers’ personal

Additionally, the Board of Directors supervises the implementation of information security.

information, individual numbers and specific personal information (individual numbers andspecific personal information are hereinafter collectively referred to as “Specific Personal

7.6.1 P olicies and Regulations Related to Information

Security Management

Tokio Marine Holdings recognizes the importance of personal information and confidential information(“information assets”). To ensure the appropriateness and trustworthiness of Tokio Marine Group’s
operations, we have formulated the Tokio Marine Group Policies for Information Security Management
and use appropriate methods to conduct information security management at each Group company inInformation, etc.”) by causing each of our officers and employees to comply with the following
group-wide privacy policy under the supervision of the manager in charge of group-wide
protection of personal information based on the recognition of our social responsibility toproperly manage customers’ personal information and Specific Personal Information, etc., incompliance with the Act on the Protection of Personal Information, Act on the Use of Numbers
to Identify a Specific Individual in the Administrative Procedure and other relevant laws, rules,
regulations and guidelines.
* “Personal information” and “personal data” provided in this Privacy Policy exclude Specific Personal Information, etc.

accordance with their line of business, scale, location and other factors. The Group is also taking necessary
measures, including revising its Privacy Policy, in response to the Amendment to the Act on the Protectionof Personal Information, which came into effect on April 1, 2022.
Based on the Tokio Marine Group Policies for Information Security Management, each Group company
establishes departments to oversee information security management and formulate policies andregulations. To protect information assets from various information leakage risks, including leak, loss andunauthorized use, we ensure the confidentiality of information assets and manage them so that they
can be used when necessary. Furthermore, the Company regularly monitors the information security
management of Group companies, setting up structures and providing information when necessary.

1. We shall acquire personal information and Specific Personal Information, etc., of ourcustomers in a manner that is both legal and fair. Unless prescribed by laws, rules orregulations, we shall notify or publicize the purposes for using personal information andSpecific Personal Information, etc., of our customers and shall use such information withinthese limits. We shall set the purposes for using and use Specific Personal Information, etc.,
within the limits prescribed by applicable laws, rules and regulations (for three areas of social
security, taxes and disaster control measures).
2. Unless prescribed by laws, rules or regulations, we shall not provide personal informationof our customers to third parties without prior consent of each such customer. We do notprovide Specific Personal Information, etc., to third parties except in cases provided by law.
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7.6.2 I nitiatives for Information Security
providing personal data to a third party, we shall record matters concerning such provision,• Information Security Management System on the Basic Policies for Internal Controls

and when collecting personal data from a third party, we shall confirm and record matters

Based on the Tokio Marine Group Policies for Information Security Management, Tokio Marine Group

concerning such collection.

thoroughly adheres to information security management rules to prevent information leakages. In
particular, each Group company is adopting physical and technological safety control measures that

3. W
 e shall strive to prevent the divulgence, destruction, impairment and unauthorized accessinclude locking away customers’ personal information and confidential documents when not in use,of personal information and Specific Personal Information, etc., of our customers, implement

placing restrictions on taking documents and other items outside the company, using encryption andappropriate safety control measures, keep the information accurate and updated, andsetting passwords for electronic information.

delete the information without delay if it becomes no longer necessary. We shall promptly
take corrective measures if any unauthorized access or the like occurs. When we contract

Tokio Marine & Nichido has installed thin-client* terminals for its in-house intranet. Thin-client

out the management of personal information and Specific Personal Information, etc.,

terminals are not equipped with hard disks and information is centrally managed and deployed fromof our customers to an outside service provider, we shall supervise the service provider

a server, which thereby further strengthens information security.

appropriately, as needed.

* A method whereby the PC environment (client OS and applications) for each user is consolidated into and operated by theserver4. Whenever we receive requests from our customers to view, suspend the use of, delete, update
or otherwise process their personal data and Specific Personal Information, etc., that we hold,• Acquisition of External Certification

we shall respond promptly in accordance with laws, rules and regulations. We also welcome

At Tokio Marine Group, Tokio Marine & Nichido Systems, which manages and operates informationcomments, questions and other inquiries regarding the management of personal information

systems of major Group companies, including Tokio Marine & Nichido and Tokio Marine & Nichido

and Specific Personal Information, etc., of our customers.

Life, has acquired external certification for information security including Information Security
Management System (ISMS) certification. These achievements recognize the initiatives taken within

5. We shall provide thorough supervision, instructions and education to our employees incharge so that the personal information and Specific Personal Information, etc., of ourthe Group to protect personal information. The Group intends to make continuous improvements
and to strengthen further its information security management structure.

customers are managed appropriately.
6. We shall continue to revise and aim to improve our internal systems and procedures toprotect the personal information of our customers.
Tokio Marine Group Privacy Policy

・Company name: Tokio Marine & Nichido Systems Co., Ltd.

・Applicable standards: ISO/IEC 27001:2013, JIS Q 27001:2014

・Scope of application: Information system operation and related information
technology (IT) services management within Tokio Marine Group, undertakenby the IT Infrastructure Services Headquarters
・Certification registration number: IS 508253

・Date of initial certification registration: August 24, 2006
・Expiration date: October 31, 2025

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Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

• Response to Information Leakage and Other Incidents

assessments. Furthermore, in order to prevent, detect and respond to cyberattacks that are becoming

Tokio Marine Group swiftly responds to incidents, including information leakage and cybersecurity

more sophisticated year by year, we use the PDCA cycle to formulate and execute improvement plans inincidents, in accordance with its information security management manual and other procedures.

response to issues identified in this process, while taking into account the amount of risk at each Group<Tokio Marine & Nichido: Number of inquiries on personal information received from customers>company, intelligence gained from inside and outside the Group, and the application of new technologies.

FY2020: 209

Fiscal 2020 inquiries related to:

FY2021: 218
FY2022: 207

Number received

Under the Tokio Marine Group CSIRT*2, the entire Group has also been divided into three regions, North

Information leakage or loss

100

America, Europe and Japan/Asia, and we are consolidating our organization and standardizing ourInformation security management structure

13

technologies and processes at a high level. Each region carries out regular countermeasures such as

Handling of information leakage

10

employee training, including security monitoring on a daily basis, cyber drills (conducted multiple times a

Other

84

year mainly for relevant parties), targeted e-mail drills (conducted multiple times a year for all employees),

Total

207

etc. Also, in the event of a cyber incident, each region strives to establish an efficient and effective system
by identifying the scope of the impact, and promptly implementing initial responses, recovery and• Information Security Audit

recurrence prevention measures to prevent the spread of damage while cooperating with other regions.

Each year, we conduct risk assessment and risk-based internal audit on all operations as well as
matters concerning Tokio Marine Group’s information security (including cybersecurity).

A Group-wide committee made up of security experts gathers knowledge from around the world andpromotes advanced security measures to support our customers and society in times of need.

• Training Programs and Assessments on Information Security

Board of Directors

Tokio Marine Group periodically provides training programs for its employees and agents andconducts assessments to raise awareness of information security and promote appropriate
management. Tokio Marine & Nichido, which handles customer information, provides annual
e-learning training on information security to all employees and dispatched office staff and checks
their training attendance.

7.7 Cybersecurity
Recognizing cybersecurity as one of the important management issues, with the Group Chief Information
Security Officer (CISO) as the supervisor under the leadership of management, the Group companies inJapan and overseas are unitedly maintaining a management system. Reports and discussions are also held
twice a year by the Board of Directors, where outside directors with IT expertise also participate.
Specifically, we are promoting countermeasures by adopting global standard frameworks and standard
architectures such as ISO 27001*1 and NIST SP800. Tokio Marine Group’s basic ideas and compliancestandards are determined from the perspective of people, processes, and technologies, and include
constant monitoring, log analyses, periodic vulnerability-scanning, penetration tests, and risk

Related departments

Management Meeting

Outside organization

Legal and ComplianceDepartment

Group CISO

Financial Services
ISAC* 3

Corporate Planning
Department
Global Communications
Department
Risk Management
Department
International Business
Development
Department, etc.

FS-ISAC*4

TMHD (Group CSIRT)JPCERT/CC *5
NCA *6

GITC Security
Subcommittee

North America

Domestic CSIRT
Meetings, etc.

Europe,Middle East

IPA*7

etc.

Japan and Asia

Group
Group
Group
Group
Group
Group
companies companies companies companies companies companies*1 Tokio Marine & Nichido Systems, a core systems company of Tokio Marine Group, has acquired ISO27001 certification.
*2 Computer Security Incident Response Team
*3 Financial Services ISAC Japan*4 Financial Services Information Sharing and Analysis Center*5 Japan Computer Emergency Response Team Coordination Center*6 Nippon CSIRT Association*7 Information-technology Promotion Agency, Japan

Board member’s membership in the committee which oversees cybersecurity strategy
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7.8 Sustainability in the Value Chain
Tokio Marine Group is executing sustainability initiatives that are integrated into the value chain. As forsustainability in the value chain, we are engaging in three initiatives. These are value chain management

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Through dialogue and by sending a questionnaire, Tokio Marine & Nichido questions suppliers andsubcontractors about the implementation of responsible procurement and purchasing practices
and the contents of the Principle of Transactions. The results of the dialogue and questionnaire arecompiled and are reflected in the next fiscal year’s action plan for the value chain.

in which we fulfill our social responsibilities together with business partners; promotion of environmental,social and governance (ESG) initiatives among customers, projects and companies, to whom and which
we provide products and services; and sustainable investments that give due consideration to ESG issues
in investment activities.

7.8.1 Value Chain Management
In the value chain, Tokio Marine Group carries out activities aimed at fulfilling its social responsibility
and achieving sustainable development together with its business partners and at raising customer
protection and convenience and assuring the soundness and appropriateness of its business.
■ Fulfilling Social Responsibilities Together with Business Partners
In March 2023, Tokio Marine Group formulated the Responsible Procurement Guidelines, which serveas our code of conduct in promoting responsible procurement and purchasing practices throughout
the value chain together with business partners. The guidelines also cover such areas as ensuring fairand equitable transactions, respecting human rights and labor, protecting the global environment,<Tokio Marine & Nichido Group Principle of Transaction>
Tokio Marine & Nichido Group conducts transactions based on the following policies and aims torealize sustainable development with business partners (purchasers and consignees) and to fulfill
its social responsibilities.
❶ Compliance with laws, regulations and social norms

Tokio Marine & Nichido Group complies with laws, regulations and social norms in every
country and area when conducting transactions. We make every effort to reject relationships
with anti-social forces and any undue claims from them.
❷ Promoting fair and honest transactions

Tokio Marine & Nichido Group selects business partners in a fair and honest manner based oncomprehensive consideration of compliance with laws, regulations and social norms, businessconditions, reliability, environmental activities, quality and prices of products, services andcertainty of delivery period, among others.

implementing information security, setting up an appropriate management system and disclosing
information. Each Group company posts information related to the Responsible Procurement
Guidelines on its corporate website and communicates the Guidelines to employees and key business
partners. The partners are requested to observe international norms on labor and respect for humanrights, comply with relevant laws and regulations, help realize a circular economy and become carbon
neutral and nature positive.
Responsible Procurement Guidelines❸ Thorough information management

Tokio Marine & Nichido Group thoroughly conducts appropriate management and protectionof information acquired through business partners.
❹ Consideration for the environment

Tokio Marine & Nichido Group promotes the purchase of products with the least impact on theenvironment (purchase of green products) and works in cooperation with business partners topromote the creation of a recycling-oriented society.

Additionally, Tokio Marine & Nichido has formulated the Principle of Transactions, which outlines
the items that should be followed in terms of conducting transactions, and is applying this across its
Group. Tokio Marine & Nichido issues the Principle of Transactions to such Group business partners
as suppliers and subcontractors and requests that these business partners promote initiatives for“compliance with laws, regulations and social norms,” “promoting fair and honest transactions,”❺ Strengthening relationships of trust

Tokio Marine & Nichido Group endeavors to build good partnerships based on trust throughfrequent communication with domestic and overseas business partners and mutually gaining a
deeper understanding.

“thorough information management” and “consideration for the environment.”
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7.8.2 Policies for Outsourcing Management
Tokio Marine Group has established the Tokio Marine Group Policies for Outsourcing Management inorder to protect customers, enhance convenience and ensure the soundness and appropriateness of
its operations in the event of outsourcing a portion or all of its operations.
Based on these policies, Tokio Marine & Nichido selects its consignees according to the Standard for
Selecting Outsourcing Contractors and the Information Security Management System Standard. At
the same time, each year the company conducts investigations of the actual status of outsourcing
contractors based on the Regulations Related to Outsourcing Contractor Management, which
stipulate the management system for outsourcing contractors, and makes improvements when
inadequacies are discovered.
In the future as well, Tokio Marine Group will promote initiatives integrated into the value chain
together with its business partners.

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

7.8.4 Efforts to Promote ESG Initiatives throughthe Provision of Products and Services
Tokio Marine Group strives to gain an understanding of ESG risks that have a significant impact
on society and utilize the knowledge accumulated through its participation in various studies andinternational initiatives to develop insurance products and services while working with customers
and business partners to respond to these risks.
Relationship between Tokio Marine Group's Eight Material Issues and 17 SDG Goals■System for Managing Sustainable Consumption
Tokio Marine Group has developed microinsurance and weather insurance for low-income earners
in those developing countries with vulnerability to climate change, natural disasters, illnesses andaccidents. Also, Tokio Marine Group supplies products and services that support the building andintroduction of renewable energy facilities and also operates the Green Gift Project. Under thisproject, when customers choose web-based insurance contracts on our website, Tokio Marine& Nichido donates funds corresponding to a portion of the value of the reduction in paper for

7.8.3 Study and Research on Promotion of ESG Initiatives

through the Provision of Products and Services

supporting environmental protection activities in Japan and overseas. The organizational structures
for undertaking these initiatives are as follows.

Environmental, social and governance (ESG) factors facing society are increasingly affecting

Initiatives

traditional risks. Tokio Marine Group believes that one of its crucial responsibilities is to provide
high-quality and reliable products and services while working with customers and business partners
to understand and respond to ESG risks that have a significant impact on society. To fulfill this
responsibility, Tokio Marine Group will promote ESG initiatives through the provision of products
and services across its sphere of influence based on the United Nations Environmental Programme

Microinsurance and weather insurance (India)

IFFCO-TOKIO General Insurance Co. Ltd.

Products and services that support the building andintroduction of renewable energy facilities

Tokio Marine & Nichido (Sales Development
Department, Sales Department)

Green Gift Project

Tokio Marine & Nichido (Sales Planning
Department, Sustainability Department)

Finance Initiative – Principles for Sustainable Insurance (UNEP FI-PSI).
Research on Climate Change and Natural Disaster Risks

United Nations Environmental Programme Finance Initiative– Principles for Sustainable Insurance (UNEP FI-PSI)

Company

Major ESG products of Tokio Marine Group (PDF/205KB)

https://www.unepfi.org/
https://www.unepfi.org/psi/

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Initiatives■ Supporting Companies’ ESG Management
ESG has recently been recognized as an important issue in business management. ESG-related topics

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data■First Auto Insurance Eco Mark Certification Acquired for Financial Products and Continuous
Certification

have increased in Japan’s Corporate Governance Code and more stringent regulations related toEver since acquiring the first auto insurance Eco Mark *1 certification for financial products from the

ESG information disclosure are placed on companies listed on the Prime Market of the Tokyo StockJapan Environment Association (JEA) in December 2010, Tokio Marine & Nichido continues to receive

Exchange. Moreover, there have been cases where companies were forced to change their businesscertification annually for its efforts to promote various initiatives in the environment-related field.

strategies because of the emergence of climate action, greenwashing and other environmental issues

These included promotion of the Green Gift Project, dissemination of information on eco-safe driving

as well as human rights issues in various regions.

and accident reduction via the company website, increased use of recycled parts in auto repairs andpremium discount services for hybrid, electric and compressed natural gas vehicles.

Against this backdrop, Tokio Marine & Nichido launched several efforts in January 2023. These
include measuring the maturity of companies’ ESG initiatives; assisting companies in reinforcing their

In 2011, Tokio Marine & Nichido won the Silver Prize in the Eco Mark Award 2011*2 sponsored by JEA,

ESG systems; and initiating the sale of a rider to its directors and officers liability insurance to cover

becoming the first company in the financial industry to receive an Eco Mark award. In granting theexpenses for investigating human rights and environmental issues and preventing recurrence.

award, JEA highly recognized the company’s efforts to promote the widespread use and increase thevisibility of Eco Mark-certified auto insurance products (creation of Eco Mark awareness posters andThrough these efforts, Tokio Marine & Nichido will continue to support further reinforcement ofextensive use of the Eco Mark label on auto insurance leaflets and renewal notices) and to offer eco-

ESG-focused business management (ESG management) and help resolve social issues throughfriendly auto insurance that allows policyholders to participate in activities to reduce environmental

sustainable finance (techniques and activities to financially guide the promotion of the resolution of

impact through the Green Gift Project. Becoming carbon neutral in its domestic business activities inenvironmental and social issues).

fiscal 2009 and 2010 was another point that was recognized by JEA.

■ESG Integration into Insurance Underwriting Risk Management

Tokio Marine & Nichido will continue to offer Eco Mark-certified auto insurance products that have a

As a responsible insurance company for customers and society, Tokio Marine & Nichido revised

low environmental impact throughout the lifecycle and is recognized as beneficial for environmental

its Insurance Product Development and Revision Procedure in July 2017 to include CSV (resolving

preservation.

social issues through core business) as one of the goals of product development and revision. The
company also added environmental and social risks to the Procedure as checkpoints to be used
when developing and/or revising an insurance product. In this way, the company has integrated
environmental and social impact and risk assessment factors into its product development andrevision process.
Additionally, in April 2018, Tokio Marine & Nichido revised its Insurance Underwriting Risk
Management Manual to clearly include environmental and social impact and risk assessment factors*1 The Eco Mark environmental label is granted to products that are
certified as having less impact on the environment throughout theirlifecycles and being effective in preserving the environment.
*2 The first award scheme established in 2010 in relation to the EcoMark. Awards are presented to companies and organizations
proactively engaged in activities to achieve the objective of the
Eco Mark project: “Creation of a sustainable society through thewise choice of environment-friendly products by consumers andenvironment improvement efforts by companies.”

as the checkpoints for insurance product development and revision. The company annually provides
sustainability training to all employees, which is an e-learning program also covering topics related
to the Policy to Address Environmental and Social Risks, and is working to facilitate employees’
understanding by distributing the Handbook on the Policy to Address Environmental and Social
Risks.
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Initiatives

7.8.5 Study and Research on Sustainable Investments andSocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

7.8.6 Policies and Operational System for Sustainable

Financing

Investments

Tokio Marine Group believes that one of its basic roles is to give consideration to the environment,

With Tokio Marine Asset Management and Tokio Marine & Nichido taking the lead, Tokio Marine

including climate change, as well as to society and governance in its investment and financing

Group has formulated sustainable investment policies and aims for the sustainable growth ofoperations and contribute to the creation of a sustainable society. The sustainable growth of society

investee companies and thus promotes such initiatives as holding constructive “purposeful dialogue”

is essential in securing long-term, stable income through investments. In an effort to solve various

with investee companies and publicly announcing the exercise of voting rights and the results of theenvironmental, social and governance (ESG) issues, we join study and research activities such as theexercise of voting rights.

UNEP FI Principles for Sustainable Insurance (UNEP FI-PSI), UN Principles for Responsible Investment(PRI), Principles for Financial Action for the 21st Century and the Japan Sustainable Investment Forum■ Investment Policies

and leverage the findings of these activities to execute sustainable investments and financing.

The investment policies of Tokio Marine & Nichido and Tokio Marine Asset Management are as
follows.

For the latest revised version, refer to Sustainability Report 2023 Supplemental Information.

Tokio Marine Group is making group-wide efforts to promote sustainable investments and financing,
and Tokio Marine & Nichido and Tokio Marine Asset Management, two companies accounting for a<Asset Management Policy from the Tokio Marine & Nichido Disclosure Report 2022 (excerpt)>

significant portion of the Group’s entire investment activities, have become a signatory to the UN-

Besides focusing on safety, profitability and liquidity in preparation for the payment of insurance

supported PRI.

claims, Tokio Marine & Nichido also undertakes asset management that contributes to society andpublic welfare. For this reason, with a main focus on Asset Liability Management (ALM), Tokio Marine

United Nations Environment Programme Finance Initiatives – Principles for Sustainable& Nichido aims at securing long-term, stable income and carrying out efficient liquidity management

Insurance (UNEP FI-PSI)

under appropriate risk control giving due consideration to the characteristics of insurance products.

https://www.unepfi.org/
https://www.unepfi.org/psi/

UN Principles for Responsible Investment (PRI)
https://www.unpri.org/

Principles for Financial Action for the 21st Century

Additionally, in order to fulfill its corporate social responsibility, Tokio Marine & Nichido posts its ESG
Investment and Financing Policy, which also gives appropriate consideration to ESG and other nonfinancial elements, at the link listed below.
https://www.tokiomarine-nichido.co.jp/company/pdf/TMNF_2023_d.pdf (in Japanese)

https://www.pfa21.jp/ (in Japanese)

Japan Sustainable Investment Forum<ESG Investment and Financing Policy from Tokio Marine & Nichido’s Corporate Website (excerpt)>

http://www.jsif.jp.net/ (in Japanese)

Tokio Marine & Nichido envisions to be a “Good Company” that supports customers and local
communities in times of need even 100 years from now. To achieve this goal, we will integrateconsideration for society and public welfare into our investment process based on our social
responsibility as a non-life insurance company and contribute to the creation of a safe, secure andsustainable future.
Specifically, as a signatory to the Principles for Responsible Investment (PRI) supported by theUnited Nations, we will promote environmental, social and governance (ESG) investments and2023 Sustainability Report176

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Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Datafinancing, which take into account both financial information and ESG elements, and seek to increase<Tokio Marine Asset Management>

investment performance over the medium to long term and to resolve social issues.

At Tokio Marine Asset Management, the ESG Asset Management Group takes the lead, in collaboration

https://www.tokiomarine-nichido.co.jp/company/about/policy/stewardship.html (in Japanese)with other internal departments, in executing relevant initiatives in asset management operations inaccordance with the policies and basic plan for promoting sustainability formulated by the company.

<Tokio Marine Asset Management>

As for stewardship activities, which include the exercise of voting rights, the Responsible Investment

One of Tokio Marine Asset Management’s management principles is to contribute to the development

Department exercises voting rights based on various policies and provides support to the Investmentof an enriched and comfortable social life and economic growth of society. Tokio Marine Asset

Investigation Group.

Management, in conformance with its fiduciary responsibility, executes responsible investments that
not only focus on financial elements of investee companies but also appropriately consider non-■ Principles for Responsible Institutional Investors (Japan’s Stewardship Code)financial elements such as environmental, social and governance (ESG) issues. In addition, Tokio

The Council of Experts established within the Financial Services Agency announced in February

Marine Asset Management actively engages investees to promote their growth over the medium to2014 the “Principles for Responsible Institutional Investors (Japan’s Stewardship Code) – To promotelong term with the aim of increasing medium- to long-term returns for customers.

sustainable growth of companies through investment and dialogue.” The Code was revised in May
2017 and thereafter in March 2020.

Tokio Marine Asset Management adopts an ESG integration approach, which integratedly ascertains
and systematically evaluates financial and non-financial elements, into its investment decision

Under the Code, “Stewardship Responsibility” means bearing responsibility for expanding medium-process. This process is commonly applied to all asset classes based on the recognition that ESG

and long-term investment returns for “customers and beneficiaries” (including end beneficiaries)

integration enables even higher-precision investee analysis and investment decisions.

through constructive “purposeful dialogue” (engagement) by institutional investors based on a deep
understanding of investee companies and their business environments as well as consideration for

Tokio Marine Asset Management regards ESG as a fundamental element to ensure medium- to long-sustainability (medium- to long-term sustainability, including ESG factors) consistent with investment

term returns for customers and has placed its focus on governance in all asset classes while also

management strategies to raise the corporate value of these companies and promote theirappropriately considering environmental, social and other aspects as well.

sustainable growth.

Initiatives for responsible investment (in Japanese)

In May 2014, Tokio Marine & Nichido agreed with the intent of the Principles for Responsible■Organization Structure

Institutional Investors (Japan’s Stewardship Code) and also announced it would adopt the Code.

The organization structures of Tokio Marine & Nichido and Tokio Marine Asset Management are as follows.

Since then, the company has been reviewing its Policy on Japan’s Stewardship Code and other related
policy in a timely manner based on the revisions made to the Code.

<Tokio Marine & Nichido>

Tokio Marine & Nichido: Policy on Japan’s Stewardship Code and Other Related Policy (in Japanese)

At Tokio Marine & Nichido, ESG investment and financing planning is carried out in the Financial
Planning Department and sustainable investment and financing initiatives are implemented in

In May 2014, Tokio Marine Asset Management (TMAM) announced its adoption of the Principles forcollaboration with departments that execute transactions. Moreover, by receiving the evaluation

Responsible Institutional Investors (Japan’s Stewardship Code). Since then, the company has beenof an external organization through PRI’s annual assessment, Tokio Marine & Nichido is identifying

reviewing its TMAM Stewardship Statement in a timely manner based on revisions to the Code.

any issues in its efforts and process related to ESG investments and financing for continuous

Tokio Marine Asset Management: Stewardship Statement (in Japanese)

improvement.

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Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

7.8.7 Efforts for Sustainable Investments and Financing■ Initiatives as an Asset Manager

Tokio Marine Group contributes to the creation of a safe, secure and sustainable future together with its

In addition to simply providing ESG investment products, Tokio Marine Asset Management is striving

stakeholders by developing and providing ESG investment products.

to facilitate a more accurate understanding of the characteristics and details of these products among■ Sustainable Investment and Financing Initiatives as an Institutional Investor
In order to realize a sustainable society, as an institutional investor, we are promoting investments in• Initiatives Related to Traditional Assets (Equities and Bonds)

investors by defining when the company gives the name “ESG fund” to its investment funds.
Name

ESG-themed green bonds, sustainability bonds, social bonds and green loans. The total balance of such

A fund that:themed investments and financing was about 109 billion yen as of March 31, 2023, for Tokio Marine &Nichido, Tokio Marine & Nichido Life and Nisshin Fire. In our themed investment and financing operations,• Seeks to generate impact or resolve environmental or social issues
ESG fund

we are also promoting the creation of social and economic value in new fields. For example, Tokio Marine

businesses. The company has also invested in transition bonds issued by gas, iron and steel and othercompanies, thereby providing support on various fronts in the investment and financing field, to realize a• Adopts ESG-focused methods* when selecting investment targets• Manages ESG-related factors appropriately by using quantitative indicators• Makes sufficient disclosure of ESG-related information& Nichido executed its first green loan in August 2022 and invested in Japan’s first blue bonds in October
2022 to support the investee companies’ efforts for environmentally sustainable fishery and aquafarming

Definition* We deem that the fund has adopted “ESG-focused methods” when it uses both of the following:•A basic method with a focus on ESG, including ESG integration, screening based on norms, sector screening and engagement
strategies• An original method with a focus on ESG, including positive screening and best-in-class approach

decarbonized society.
The table below lists our ESG funds that satisfy the above definition. Tokio Marine Japanese Equity Focus
In addition, in fiscal 2022, Tokio Marine & Nichido established a team to make impact investments in funds

Fund is an investment product of Tokio Marine Asset Management, which complies with Article 8* ofwith measurable social returns, which can create both social and economic value. The team has madeEurope’s Sustainable Finance Disclosure Regulation (SFDR).

investment commitments to renewable energy, environmental and other funds conducive to climate
Tokio Marine Group’s ESG funds (as of August 2023)

action, and the total commitments amounted to about 13 billion yen as of March 31, 2023. In terms ofimpact investment, the company is also making efforts to create social and economic value in new fields.
As one example, it committed to investment in a forestry fund in June 2023 to pass on valuable forest
resources to future generations.

Tokio Marine Investment Trust to Fight Cancer
Publicly offeredinvestment fundTokio Marine Climate Change Response Fund (“Green Future”)(for individual investors)
Tokio Marine Renewable Energy Income Strategy Fund (“Green Power Shift”)
Privately placed
investment fund(for institutional investors)

Tokio Marine Japanese Equity ESG Investment Fund
Tokio Marine Japanese Equity Focus Fund*A
 fund will be Article 8-compliant if it satisfies a requirement of the SFDR to incorporate sustainability risk into the investment
decision-making process.

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Environmental
Initiatives• Initiatives Related to Alternative Investments
Since 2012, Tokio Marine Asset Management has been operating the TM Nippon Solar Energy Fund forSocialInitiatives

Renewable Energy Fund that invests in various types of renewable energy, including wind power, biomass,hydropower and geothermal power in addition to solar power, since 2017. These funds are investment
products that diversify investments among Japan’s renewable energy generation businesses and provide
investment income to investors from sales of electric power.
A number of initiatives have been underway in Japan to achieve carbon neutral status, and the utilizationof renewable energy is positioned as one of the most important efforts.
Tokio Marine Asset Management believes that these funds will contribute to the realization of carbon
neutral status. By offering investment opportunities of social significance through these funds, thecompany strives to fulfill its social roles and responsibilities as an asset management company.

Sustainability
Performance Data

7.8.8 E xercise of Voting Rights and Disclosure of theResults of Exercise of Voting Rights

institutional investors, including corporate pension funds, to invest in solar power plants as an investment
product targeting Japan’s national infrastructure. The company has also been operating the TM Nippon

GovernanceInitiatives

Based on the intent of the Principles for Responsible Institutional Investors (Japan’s StewardshipCode), Tokio Marine & Nichido and Tokio Marine Asset Management have formulated clear policies on
publicly announcing the exercise of voting rights and the results of the exercise of voting rights andare disclosing details of their stewardship activities that include the results of the exercise of voting
rights.
<Tokio Marine & Nichido>
Overview of stewardship activities (PDF/188KB) (in Japanese)<Tokio Marine Asset Management>
Stewardship activities and results of self-assessment (August 2023) (PDF/2.1MB) (in Japanese)
Disclosure of the results of the exercise of voting rights (Japanese equities) (in Japanese)

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Initiatives

8 Sustainability Performance Data
We provide principal sustainability performance data for Tokio Marine Group.

◉ Reporting Period and Reporting Organizations• Reporting period: Report on results for fiscal 2022 (April 1, 2022 – March 31, 2023)• Reporting organizations: Tokio Marine Holdings and major subsidiaries
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)◉ Corporate GovernanceFor details, please refer to Corporate Governance Report.
Corporate Governance (Corporate Governance Report)
Dialogue with Shareholders and Investors
◉ Internal Control

SocialInitiatives

48,587 tons, overseas: 31,614 tons) versus the initial-year target of 82,648 tons (-1% from the previous
fiscal year) and -3.93% compared with the previous fiscal year, thereby achieving the target. The principal
factor was efforts to reduce environmental loads.
[Data coverage rate]
We calculate 100% (employee base) of Tokio Marine Holdings and major subsidiaries (excluding Scope 3“Category 5: Waste generated in operations” and “Category 6: Business travel (by air)).
(Unit: tons)

CO2 emissions
Breakdown

Fiscal 2022

89,894

83,48380,201☑

Domestic*1

64,54855,633

48,587☑

*2

25,34527,85031,614☑

13,022
Domestic: 7,079
Overseas: 5,942

13,362☑
Domestic: 6,894☑
Overseas: 6,468☑

Overseas

Direct(Gas, heavy oil, gasoline, etc.)

Scope 2

Indirect(Electricity, chilled/hot water, etc.)

53,977
Domestic: 39,732
Overseas: 14,245

47,435
Domestic: 31,603
Overseas: 15,832

41,190☑*3
Domestic: 23,979☑
Overseas: 17,212☑

Total

22,754
Domestic:17,666
Overseas: 5,088

23,026
Domestic: 16,950
Overseas: 6,075

25,649☑
Domestic: 17,714☑
Overseas: 7,935☑

Category 1: Purchased goods andservices (Paper usage)

11,172
Domestic: 9,958
Overseas: 1,214

10,349Domestic: 9,365
Overseas: 985

9,463☑
Domestic: 8,436☑
Overseas: 1,026☑

Category 3: Fuel- and energyrelated activities not included in
Scope 1, 2 (Electricity, steam andchilled/hot water usage)

8,638
Domestic: 6,385
Overseas: 2,253

10,875
Domestic: 6,195
Overseas: 4,679

9,764☑
Domestic: 5,793☑
Overseas: 3,971☑

Category 5: Waste generated inoperations (Waste generation)

1,045

1,038

1,447☑

1,900
Domestic: 279
Overseas: 1,621(Coverage rate: 100%)

764
Domestic: 353
Overseas: 411(Coverage rate: 100%)

4,975☑
Domestic: 2,068☑
Overseas: 2,907☑
(Coverage rate: 100%)

2.08

1.94

1.86

43,260 persons

43,048 persons

43,217 persons◉ Results of Tokio Marine Group’s Sustainability Initiatives
Progress of Eight Material Issues (Materiality)
Scope 3

[Reduction targets for CO2 emissions]• Long-term target (fiscal 2030) : -60% (compared with fiscal 2015 level)

Fiscal 2021

Scope 1

Improving Quality from the Customer’s Perspective(Tokio Marine Holdings and major subsidiaries)

Fiscal 2020

13,163
Domestic: 7,150
Overseas: 6,013◉ Improving Quality from the Customer’s Perspective■ CO2 Emissions from Energy Sources and CO2 Reduction and Fixation

Sustainability
Performance Dataemissions (Scope 1+2+3) for Tokio Marine Holdings and major subsidiaries were 80,201 tons (domestic:

Internal Control◉ Environment

GovernanceInitiatives

Category 6: Business travel (by air)

• Reduction target in fiscal 2023 : -1% compared with the previous year
CO2 emissions per employee[CO2 emissions]

Number of employees

From fiscal 2015, we began calculating Scope 3 “Category 1: Purchased goods and services (Purchased

CO2 reduction (Excluding CO2 fixation
through mangrove planting)

3,531

3

ー

CO2 fixation through mangrove planting

120,000

130,000

93,000paper),” “Category 3: Fuel- and energy-related activities not included in Scope 1, 2” and “Category 5: Waste
generated in operations” as we expanded the scope of calculation for CO2 emissions. For fiscal 2022, CO2(consolidated fiscal year base)2023 Sustainability Report 180

Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Data calculation method (☑items)

Data calculation method (☑items)
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)“1. Calculation Method of CO2 emissions originating from energy consumption and CO2 reduction”“1. Calculation Method of Environmental load data”

Data collection scope (☑items)
Data collection scope (☑items)

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)*1

Companies of “2. Tokio Marine Holdings and its subsidiaries (as of March 31, 2023)”

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)

Companies in which the headquarters is in Japan of “2. Tokio Marine Holdings and its subsidiaries (as of March 31, 2023)”*2

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)

Companies in which the headquarters is located overseas of “2. Tokio Marine Holdings and its subsidiaries (as of March
31, 2023)”■ CO2 Emissions from Energy Sources (Tokio Marine & Nichido)[CO2 emissions reduction targets]• Long-term target (fiscal 2050): -60% reduction (compared with fiscal 2006 level)*3 Reflects the CO2 reduction effect of 14,074 tons from green power purchases.

• Reduction target in fiscal 2023: -1% compared with the previous year

■ Environmental Load Data (Tokio Marine Holdings and major subsidiaries)[CO2 emissions]
From fiscal 2015, we began calculating Scope 3 “Category 1: Purchased goods and services (Purchased

Units

Fiscal 2020

Fiscal 2021

Fiscal 2022

Electricity usage

1,000kWh(GJ)

118,313（425,928）

119,473（430,104）

130,109 ☑
（468,393）

Gas usage

1,000m3(GJ)

1,342（58,653）

1,215（53,115）

1,267 ☑
（55,345）

41,361 tons (-1% from the previous fiscal year) and -17.6% compared with the previous fiscal year due to

Steam and chilled/
hot water usage

GJ

17,337

83,12827,150 ☑

[Data coverage rate]

Gasoline usage

kℓ
(GJ)

3,766
（130,319)

3,905（135,097)

3,913 ☑
（135,377)

Heavy oil usageℓ(GJ)

23,832（931）

29,657（1,160）24,687 ☑
（965）

Business travel(by air)

1,000km

18,092

7,100

53,786 ☑

Paper usage

t

6,105

5,655

5,171 ☑

Renewable energy(electricity) usage

1,000kWhー

21,06833,972 ☑

paper),” “Category 3: Fuel- and energy-related activities not included in Scope 1, 2” and “Category 5: Waste
generated in operations” as we expanded the scope of calculation for CO2 emissions. For fiscal 2022, CO2
emissions (Scope 1+2+3) of Tokio Marine & Nichido were 34,425 tons versus the initial-year target ofenergy conservation efforts.

100.0% of Tokio Marine & Nichido overall (employee base)2023 Sustainability Report181

Basics

Environmental
Initiatives

Details(Unit: tons)

CO2 emissions

Fiscal 2020

Fiscal 2021

Fiscal 2022

49,843

41,77934,425☑

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

■ Environmental Load Data (Tokio Marine & Nichido)
Units

Fiscal 2020

Fiscal 2021

Fiscal 2022

Electricity usage

1,000 kWh
(GJ)

65,580（236,088）

62,118（223,626）

54,721 ☑
（196,997）

Gas usage

1,000 m3
(GJ)

654
（29,177）658（29,288）598 ☑
（26,638）

Scope 1

Direct(Gas, heavy oil, gasoline, etc.)

4,991

5,068

4,913☑

Scope 2

Indirect(Electricity, chilled/hot water, etc.)

30,35323,14015,892☑

Total

14,49913,571

13,621☑

Category 1: Purchased goods andservices (Paper usage)

8,601

7,700

7,151☑

Steam and chilled/hot
water usage

GJ

14,771

17,00020,831 ☑

Category 3: Fuel- and energy-related
activities not included in Scope 1,2 (Electricity, steam and chilled/hot
water usage)

4,957

4,794

4,415☑

Gasoline usage

kℓ
(GJ)

1,464
（50,662）

1,504（52,046）

1,496 ☑
（51,756）

Category 5: Waste generated inoperations (Waste generation)

783

848

1,015☑

Heavy oil usageℓ(GJ)

Category 6: Business travel (by air)

158

229

1,040☑

22,949（897）

16,958（663）

22,796 ☑
（891）

2.88

2.42

2.06

Business travel(by air)

1,000km

1,366

1,980

9,745 ☑

17,253 persons

17,098 persons

16,749 persons
Water usage

1,000m3

215

207

179 ☑

Paper usage

t

4,700

4,208

3,908 ☑

Waste

t

2,895

2,995

2,812 ☑

Recycling rate

%

56.6

55.7

57.1 ☑

Scope 3CO2 emissions per employee
Number of employees

Data calculation method (☑items)

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)
“1. Calculation Method of Human Rights and Labor (Basic Data) / Utilizing Diverse Human Resources”
Data collection scope (☑items)
Tokio Marine & Nichido

Data calculation method (☑items)

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)
“1. Calculation Method of Environmental load data”
Data collection scope (☑items)
Tokio Marine & Nichido2023 Sustainability Report182Basics

Environmental
Initiatives

Details◉ Human Rights and Labor

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

[Basic employee data (Tokio Marine & Nichido)]■Data Coverage Rate
Tokio Marine Holdings and major subsidiaries (employee base) are calculated as 100%.
Tokio Marine Holdings and domestic major subsidiaries:

Fiscal 2020

Fiscal 2021

Fiscal 2022

Average age

Male: 47
Female: 37
Overall: 42

Male: 47
Female: 38
Overall: 42.1

Male: 47.3
Female: 38
Overall: 42.4

Average years
continuously employed

Male: 12
Female: 12
Overall: 12

Male: 13
Female: 12
Overall: 12.4

Male: 12.9
Female: 12.6
Overall: 12.8

Average annual salary

Approx. ¥7.73 million

Approx. ¥8.30 million

Approx. ¥8.60 millio

Turnover rate*

2.0%

2.7%

3.2%

57.4% of Tokio Marine Holdings and major subsidiaries (employee base)Tokio Marine & Nichido:
38.8% of Tokio Marine Holdings and major subsidiaries (employee base)■Basic Data
[Number of employees (Tokio Marine Holdings and major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Total number of employees(consolidated fiscal year base)43,26043,04843,217

Tokio Marine Holdings anddomestic major subsidiaries

Male: 12,674
Female: 12,797
Overall: 25,471

Male: 12,421
Female: 12,701
Overall: 25,122

Male: 12,118 ☑
Female: 12,699 ☑
Overall: 24,817 ☑

Tokio Marine Holdings andoverseas major subsidiaries

Asia: 4,870
North and Central
Americas: 12,262
Europe: 777
Overall: 17,909

Asia: 4,768
North and Central
Americas: 12,473
Europe: 787
Overall: 18,028

Asia: 4,787
North and Central
Americas: 13,003
Europe: 710
Overall: 18,500*The turnover rate is calculated based on the number of personnel who quit voluntarily (excluding the age-limit retirement).

Data calculation method (☑items)[Number of new hires (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Male: (New graduates)
206(Mid-career hires)
34
Female: (New graduates) 418(Mid-career hires) 8
Overall: (New graduates) 624(Mid-career hires) 42

Male: (New graduates)
195(Mid-career hires)
38
Female: (New graduates) 408(Mid-career hires) 6
Overall: (New graduates) 603(Mid-career hires) 44

Male: (New graduates)
173(Mid-career hires)
61
Female: (New graduates) 334(Mid-career hires) 18
Overall: (New graduates) 507(Mid-career hires) 79

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)
“1. Calculation Method of Basic data on human rights and labor, and use of diverse human resources”[Ratio of female employees’ wages to male employees’ wages in fiscal 2022* (Tokio Marine Holdings)]
Data collection scope (☑items)
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)
Companies in which the headquarters is in Japan of “2. Tokio Marine Holdings and its subsidiaries (as of March 31, 2023)”[Workforce Breakdown: Race/ Ethnicity & Nationality]

Race/ Ethnicity & Nationality data

Non-regular employees

Regular employees

All employees

59.2% ☑

75.7% ☑

66.7% ☑

* Tokio Marine Holdings does not differentiate wages based on gender. The gender gap in wages is attributable to wage settings
based on expertise, career and performance. In our personnel system, there is no classification of employees based on what kind ofwork they engage in or where they work.

2023 Sustainability Report183

Basics

Environmental
Initiatives

Details[Ratio of female employees’ wages to male employees’ wages in fiscal 2022* (Tokio Marine & Nichido)]
Non-regular employees

Regular employees

All employees

61.5% ☑

48.9% ☑

51.2% ☑

* F or regular employees, there are two types of employee categories: “Global,” which does not limit the work location, and “Area,”
which limits the work location. Such limitations have rendered the wage level of “Global” employees proportionally higher. The
gender gap in wages is attributable to the fact that more male employees belong to the “Global” category and have comparatively
longer years of service. Tokio Marine & Nichido does not differentiate wages based on gender.

[Ratio between the total annual compensation of the Chief Executive Officer and the mean employeecompensation* (Tokio Marine Holdings)]
Fiscal 2021

Fiscal 2022

Fiscal 2023

13.0

17.7

15.3
* Total CEO compensation / Mean employee compensation◉ Fair Personnel System and Management[Employee attitude survey (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Respondents

16,126(Response rate: 91.6%)

16,541(Response rate: 93.1%)

16,182(Response rate: 92.6%)

Level of satisfaction

Male: 95.2%
Female: 92.0%
Overall: 93.4%

Male: 95.1%
Female: 91.7%
Overall: 93.2%

Male: 95.1%
Female: 91.3%
Overall: 93.0%

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

◉ Development of Human Resources[Employee training (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Total training hours

226,503 hrs.

313,721 hrs.

271,897 hrs.

Average training hours
per employee

15.29 hrs.

21.04 hrs.

18.38 hrs.

Total training cost

¥737,803,807¥870,346,000¥883,899,877

Average training cost
per employee¥49,804¥58,362¥59,739[Job request system (job posting system) (Domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Applicants: 433
Approval: 224

Applicants: 612
Approval: 241

Applicants: 716
Approval: 267* Approved requests take effect in the fiscal year after that of the application.
* Figures for fiscal 2020 are for Tokio Marine & Nichido only.

[Labor union participation rate (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

100%

100%

100%

2023 Sustainability Report 184

Basics

Environmental
Initiatives

Details◉ Utilizing Diverse Human Resources

Fiscal 2020

Fiscal 2021

Fiscal 2022

Male: 204
Female: 13
Overall: 217

Male: 296
Female: 52
Overall: 348

Male: 334 ☑
Female: 68 ☑
Overall: 402 ☑

General managers

Male: 804
Female: 37
Overall: 841

Male: 1,078
Female: 191
Overall: 1,269

Male: 1,033 ☑
Female: 198 ☑
Overall: 1,231 ☑

Section managers

Male: 2,518
Female: 361
Overall: 2,879

Male: 3,911
Female: 1,322
Overall: 5,233

Male: 3,954 ☑
Female: 1,966 ☑
Overall: 5,920 ☑

Male: 3,322
Female: 398
Overall: 3,720

Male: 4,989
Female: 1,513
Overall: 6,502

Male: 4,987 ☑
Female: 2,164 ☑
Overall: 7,151 ☑

Male: 1,605
Female: 619
Overall: 2,224

Male: 1,536
Female: 739
Overall: 2,275

Male: 1,487
Female: 875
Overall: 2,362

Directors

Managers(general managers andsection managers)

total(Deputy managers)*Only Tokio Marine & Nichido

GovernanceInitiatives

Sustainability
Performance Data

[Number of female directors (Tokio Marine & Nichido, as of March 31, 2023)][Number of directors and managers (Tokio Marine Holdings and major subsidiaries)](including executive officers)

SocialInitiatives*Figures for fiscal 2020 are for Tokio Marine & Holdings and domestic major subsidiaries only.

Directors and officers

Rate

8

13.3%

[Number of employees using the system for continued employment of older employees(Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

831

925

996

[Rate of employment of persons with disabilities] (as of December 1 of each fiscal year)
Fiscal 2020

Fiscal 2021

Fiscal 2022

2.35%

2.39%

2.40%

* R eporting organizations: Applicable Group companies (Tokio Marine Holdings, Tokio Marine & Nichido, Tokio
Marine Business Support, Tokio Marine & Nichido Career Service and Tokio Marine Nichido Better Life Service)

Data calculation method (☑items)
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)“1. Calculation Method of Human Rights and Labor (Basic Data) / Utilizing Diverse Human Resources”

Data collection scope (☑items)
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)◉ Reform of Working Styles[Retiree rehiring system (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

6

5

7

Companies in which the headquarters is in Japan of “2. Tokio Marine Holdings and its subsidiaries (as of March 31, 2023)”[Diversity-related data]
Diversity-related data

[Maternity leave system (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

603

756

748

2023 Sustainability Report185

Basics

Details

Environmental
Initiatives[Childcare leave system (Tokio Marine Holdings and domestic major subsidiaries)]

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

[Spouse childbirth leave (Tokio Marine Holdings and domestic major subsidiaries)]

Fiscal 2020

Fiscal 2021

Fiscal 2022

Fiscal 2020

Fiscal 2021

Fiscal 2022

Male: 123
Female: 1,271
Overall: 1,394

Male: 158
Female: 1,342
Overall: 1,500

Male: 244
Female: 1,297
Overall: 1,541

17

33

28

[Nursing care leave system (Tokio Marine Holdings and domestic major subsidiaries)][Short working hours system (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

1,481

1,515

1,189

Fiscal 2020

Fiscal 2021

Fiscal 2022

53

191

248

[Nursing care temporary retirement system (Tokio Marine Holdings and domestic major subsidiaries)][Resumption of work support system (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

1,210

1,357

1,303

[Return to work rate after taking childcare leave (Tokio Marine Holdings and major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Male: 100％
Female: 77.7％

Male: 99.3％
Female: 94.8％

Male: 94.9％
Female: 96.1％

Fiscal 2020

Fiscal 2021

Fiscal 2022

7

6

13

[Annual average actual working hours (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

1,987 hrs.

1,978 hrs.

1,989 hrs.

[Monthly average overtime hours (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

22.63 hrs.

23.11 hrs.

24.02 hrs.

[Employee retention rate after taking childcare leave (Tokio Marine Holdings and major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Male: 100％
Female: 76.5％

Male: 95.4％
Female: 90.0％

Male: 83.4％
Female: 84.7％*Figures for fiscal 2020 are for Tokio Marine & Holdings and domestic major subsidiaries only.

*Including legal overtime hours[Number of annual paid leave days taken (Tokio Marine & Nichido)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

15.8 days

16.6 days

17.2 days

2023 Sustainability Report 186

Basics

Environmental
Initiatives

Details◉ Health Management and Occupational Health and Safety

Fiscal 2023

Category

Fiscal 2019

Fiscal 2020

Fiscal 2021

Fiscal 2022

Percentage of employees
who received health checks

100%

100%

100%

100%

100%

Percentage of employees who
underwent a detailed examination
after a regular checkup

86.4%

87.2%

92.5%

89.5%

90.0%

Uterine cancer screening rate

66.0%

Prostate cancer screening ratenumerical
targets

Specific health guidance
implementation rate

Sustainability
Performance Data

Category

Fiscal 2019

Fiscal 2020

Fiscal 2021

Fiscal 2022

Number of employees who
participated in Health Promotion
Month/Health Challenge

7,060

8,101

7,997

7,106

Fiscal 2023
numerical
targets

8,130[Health status of employees (Tokio Marine & Nichido)]

60.5%

81.1%

74.6%

76.1%

73.1%

62.8%
77.8%
75.6%

61.7%
77.0%
76.3%

68.5%
82.5%
ー

[Specific health guidance implementation rate (Tokio Marine & Nichido)]
Category

GovernanceInitiatives[Participation in health improvement measures (Tokio Marine & Nichido)][Percentage of employees who received health checks (Tokio Marine & Nichido)]

Breast cancer screening rate

SocialInitiatives

Fiscal 2018

Fiscal 2019

57.3%

52.4%

Fiscal 2020

68.1%

Fiscal 2021

67.7%

Fiscal 2022
numerical
targets

Equal to or
over 60.0%

Fiscal 2023

Category

Fiscal 2019

Fiscal 2020

Fiscal 2021

Fiscal 2022

Findings
at a regular health checkup

51.8%

54.0%

54.0%

54.3%

Under 50.0%

Persons maintaininga healthy body weight (BMI)

68.3％

67.8％

67.8%

67.8%

Equal to or
over 70.0%

Smoking rate

13.7％

12.7％

12.3%

12.4%

12.2%

Rate of employees who havedeveloped physical exercise habits

18.4％

19.5％

20.0%

20.9%

Equal to or
over 20.0%

Stress test execution rate

98.4%

98.7%

98.8%

98.6%

Equal to or
over 98.0%

Rate of employeeswith a high stress level

9.9％

8.2％

9.7%

10.7%

Under 10.0%

numerical
targets[Independent initiative implementation status (Tokio Marine & Nichido)][Awareness on health (Tokio Marine & Nichido)]
Category

Fiscal 2019

Fiscal 2020

Fiscal 2021

Fiscal 2022

Status of health literacy*1

4.13

*2

4.10

4.08

Subjective sense of health*1

ー

ー

ー

3.47

Fiscal 2023

Category

Fiscal 2019

Fiscal 2020

Fiscal 2021

Fiscal 2022

Fiscal 2023

Number of
employees participating
in anti-obesity initiatives
for young employees

301

*

263

192

Health guidance
implementation
rate: 80%

numerical
targets

4.13
3.50*1: Response to employee questionnaires (on a maximum scale of 5 points)*2: Not implemented due to system changetargets* Postponed due to the COVID-19 pandemic

2023 Sustainability Report187

Basics

Environmental
Initiatives

Details[Industrial accidents (Tokio Marine Holdings and domestic major subsidiaries)]· Occupational accidents

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

[Human rights training hours (Tokio Marine & Nichido)]

Fiscal 2020

Fiscal 2021

Fiscal 2022

72

59

43☑

· Commuting accidents
Fiscal 2020

Fiscal 2021

Fiscal 2022

63

43

45☑

Fiscal 2020

Fiscal 2021

Fiscal 2022

Total training hours

21,789 hrs.

21,664 hrs.

22,725 hrs.

Training hours
per employee

1 hr.

1 hr.

1 hr.

Participation rate

100%

100%

100%

◉ Local Community and Social Contribution Activities[Employee participation rate in volunteer activities(Tokio Marine Holdings and domestic major subsidiaries)][Absentee rate* (Tokio Marine & Nichido)］
Fiscal 2021

Fiscal 2022

Fiscal 2023

Fiscal 2020

Fiscal 2021

Fiscal 2022

1.19%

1.37%

1.60%☑

113.5%

110.6%

102.4%*Figures for fiscal 2020 is for Tokio Marine & Holdings and domestic major subsidiaries only.

*Total days lost due to absenteeism / Total days scheduled to be worked

Data calculation method (☑items)
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)“1. Calculation Method of Industrial Accidents”

Data collection scope (☑items)[Number of employees who took volunteer leave(Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

9

90

48

Method of Calculation and Scope in Data Collection for Key Sustainability Indicators (PDF/103KB)
Companies in which the headquarters is in Japan of “2. Tokio Marine Holdings and its subsidiaries (as of March 31, 2023)”◉ Human Rights[Human rights training participation rate (Tokio Marine Holdings and domestic major subsidiaries)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

100%

100%

100%

[Donations (Including monetary and in-kind donations by Tokio Marine Holdings, domestic major
subsidiaries and other affiliated companies)]
Fiscal 2020

Fiscal 2021

Fiscal 2022

Approx. ¥2,062 million(includes disaster support ofapprox. ¥8 million)

Approx. ¥2,188 million(includes disaster support ofapprox. ¥5.3 million)

Approx. ¥1,473 million(includes disaster support ofapprox. ¥24.9 million)*This includes donations by miscellaneous expenses for social contribution programs,
payments in kind, opened facilities and employee dispatching.
*Monetary donations by employees and agents in fiscal 2022: Approx. ¥12.8 million

2023 Sustainability Report 188

Basics

Details

Environmental
Initiatives

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

Third-Party Assurance
Tokio Marine Holdings has received a third-party assurance of the Tokio Marine Group Sustainability
Report 2023 from Ernst & Young ShinNihon LLC with the aim of further improving the level ofTranslation

communication with stakeholders. (The independent third-party assurance logo☑ is marked where

The following is an English translation of an independent assurance report prepared in Japanese and is for information
and reference purposes only. In the event of a discrepancy between the Japanese and English versions, the Japaneseversion will prevail.

appropriate).

September 27, 2023

TO:
Mr. Satoru Komiya
President
Tokio Marine Holdings, Inc.

By obtaining the external assurance, we will work to improve the quality of Tokio Marine Groupsustainability reporting. Tokio Marine Holdings has consecutively received same third-party
assurances from fiscal 2016 to fiscal 2021 as well.

☑ C O2 Emissions from Energy Sources and CO2 Reduction
1.

☑ Environmental Load Data (Tokio Marine Holdings and major subsidiaries)☑ CO2 Emissions from Energy Sources (Tokio Marine & Nichido)☑ Environmental Load Data (Tokio Marine & Nichido)2.

Human Rights and Labor☑ Number of employees (Tokio Marine Holdings and domestic major subsidiaries)☑ Number of directors and managers (Tokio Marine Holdings and major subsidiaries)

Takefumi Kawasaki
Yuji Ozawa
Engagement Partner
Ernst & Young ShinNihon LLC
Tokyo, Japan

We, Ernst & Young ShinNihon LLC,, have been commissioned by Tokio Marine Holdings, Inc. (hereafter the “Company”)
and have carried out a limited assurance engagement on the Key Sustainability Indicators (hereafter the "Indicators") of
the Company and its major subsidiaries for the year ended March 31, 2023 as included in the Company’s Tokio Marine
Holdings, Inc. Sustainability Report 2023 (hereafter the “Report”). The scope of our assurance procedures was limited to
the Indicators marked with the symbol "☑" in the Report.

Environment(Tokio Marine Holdings and major subsidiaries)

Independent Assurance Report3.

☑ Absentee rate (Tokio Marine & Nichido)☑ Industrial accidents (Tokio Marine Holdings and domestic major subsidiaries)

4.

The Company’s Responsibilities
The Company is responsible for preparing the Indicators in accordance with the Company’s own criteria, which it
determined with consideration of Japanese environmental regulations as presented in Calculation Method of
Method of Calculation and Scope in Data Collection for Key Sustainability Indicators(https://www.tokiomarinehd.com/en/sustainability/pdf/sustainability_indicatorsFY2022.pdf).
Greenhouse gas (GHG) emissions are estimated using emissions factors, which are subject to scientific and estimation
uncertainties given instruments for measuring GHG emissions may vary in characteristics, in terms of functions andassumed parameters.
Our Independence and Quality Control
We have met the independence requirements of the Code of Ethics for Professional Accountants issued by the International
Ethics Standards Board for Accountants, which is based on the fundamental principles of integrity, objectiveness,
professional competence and due care, confidentiality, and professional behavior.
In addition, we maintain a comprehensive quality control system, including documented policies and procedures forcompliance with ethical rules, professional standards, and applicable laws and regulations in accordance with theInternational Standard on Quality Management (ISQM) 1 issued by the International Auditing and Assurance Standards
Board.
Our responsibilities
Our responsibility is to express a limited assurance conclusion on the Indicators included in the Report based on theprocedures we have performed and the evidence we have obtained.
We conducted our limited assurance engagement in accordance with the International Standard on Assurance
Engagements: Assurance Engagements Other than Audits or Reviews of Historical Financial Information - (“ISAE 3000”)(Revised), and with respect to GHG emissions, the International Standard on Assurance Engagements: Assurance
Engagements on Greenhouse Gas Statements (“ISAE 3410”), issued by the International Auditing and Assurance Standards
Board. The procedures, which we have performed according to our professional judgment, include inquiries, document
inspection, analytical procedures, reconciliation between source documents and Indicators in the Report, and the following:• Making inquiries regarding the Company’s own criteria that it determined with consideration of Japanese environmental
regulations, and evaluating the appropriateness thereof;• Inspecting relevant documents with regard to the design of the Company’s internal controls related to the Indicators, andinquiring of personnel responsible thereof at the Company and 2 major subsidiaries visited ;• Performing analytical procedures concerning the Indicators at the Company and 2 major subsidiaries visited; and• Testing, on a sample basis, underlying source information and conducting relevant re-calculations at the Company and 2
major subsidiaries visited.
The procedures performed in a limited assurance engagement are more limited in nature, timing and extent than areasonable assurance engagement. As a result, the level of assurance obtained in a limited assurance engagement is lower
than would have been obtained if we had performed a reasonable assurance engagement.
Conclusion
Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that
the Indicators included in the Report have not been measured and reported in accordance with the Company’s own criteriathat it determined with consideration of Japanese environmental regulations.

Click on the image for an enlarged view2023 Sustainability Report189Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

◉ Specifying Material GRI Indicators (Topics)

GRI Standards Content Index

Tokio Marine Group considers GRI items (topics) as material items (topics). GRI items (topics) are

Sustainability Report 2023 is prepared in accordance with the Core option of the Global Reporting

those corresponding to “Eight Material Issues (Materiality) and Four Priority Issues” and those closely

Initiative (GRI) Standards. (See “ ◉ GRI Content Index” for details.)

related to environmental, social and governance initiatives and conducive to GRI reporting principles(clarification, comparability, etc.).
Materiality (★Four designated as priority issues)

Material GRI Indicator❶ Take climate
action★

❷ Improvedisasterresilience★

❸ Support people’s ❹ Promote and❺ Facilitate andhealthy andsupport diversity foster innovationenriching lives★
and inclusion★ through digitalization❻ Protectthe naturalenvironment❼ Provideeducation tochildren❽ Disclose highly
transparent andtimely information

GRI items (topics)
conducive to
GRI reporting
principles

Disclosure of Environmental,
Social and Governance Contents

GRI 2: General Disclosures 2021 3. Governance

Details: 7.2 Corporate Governance

GRI 2: General Disclosures 2021
4. Strategy, policies and practices

Details: 7.3 Compliance

201: Economic Performance

Details: 5.2 Responding to climate change
Details: 7.3 Compliance203: Indirect Economic Impacts

Details: 6.6 Contributing to the Creation of a Safe and Secure Society

205: Anti-Corruption

Details: 7.3.4 Anti-Corruption Initiatives

206: Anti-Competitive Behavior

Details: 7.3.4 Anti-Corruption Initiatives

207: Tax

Details: 7.3.7 Initiatives Concerning Appropriate Tax Reporting

301: Materials

Details: 5.1 Creating Environmental Value

302: Energy

Details: 5.1 Creating Environmental Value

303: Water and Effluents

Details: 5.1 Creating Environmental Value

304: Biodiversity

Details: 5.5.2 Protecting the Global Environment through Products and Services

305: Emissions

Details: 5.2 Responding to climate change

306: Waste

Details: 5.1 Creating Environmental Value

307: Environmental Compliance

Details: 5.1 Creating Environmental Value

308: Supplier Environmental Assessment

Details: 7.8 Sustainability in the Value Chain

401: Employment

405: Diversity and Equal Opportunity

Details: 6.3 Promoting Diversity and Inclusion
Details: 6.4 Promoting the Development and Empowerment of Human
Resources
Details: 6.5 Promoting Health and Productivity Management and Improving
Occupational Safety and Health Standards

412: Human Rights Assessment

Details: 6.2 Respect for Human Rights

403: Occupational Health and Safety
404: Training and Education

Details: 5.5.2 Protecting the Global Environment through Products and Services

413: Local Communities

Details: 6.6.3 Response to a Mobility Society

414: Supplier Social Assessment

Details: 7.8 Sustainability in the Value Chain

418: Customer Privacy

Details: 7.6 Information security, 7.7 Cybersecurity

419: Socioeconomic Compliance

Details: 6.2 Respect for Human Rights

Promoting ESG Initiatives through theProvision of Products and Services*

Details: 7.8.3 Study and Research on Promotion of ESG Initiatives throughthe Provision of Products and Services
Details: 7.8.4 Efforts to Promote ESG Initiatives through the Provision of
Products and Services

Development of Clean Energy*

Details: 5.3 Promoting Green Transformation

Sustainable Investment and Financing*

Details: 7.8 Sustainability in the Value Chain

Disasters, Accidents and Microinsurance*

Details: 5.4 Responding to Natural Disasters
Details: 6.6.3 Response to a Mobility SocietyComprehensive Insurance Service Encompassing
Treatment, Finance, Longevity and Health*Details: 6.6 Contributing to the Creation of a Safe and Secure Society

Details: 6.6.7 Social Contribution and Awareness-Raising Activities >◉Medical and Nursing Care

* Material issues identified by Tokio Marine Group that are not included in any of the items in the GRI Standards.

2023 Sustainability Report190Basics

Environmental
Initiatives

Details

SocialInitiatives

GovernanceInitiatives

Sustainability
Performance Data

◉ GRI Content Index
Statement of use

Tokio Marine Holdings has reported in accordance with the GRI Standards for the period from
April 1, 2022 to March 31, 2023.

GRI 1 used

GRI 1: Foundation 2021

Applicable GRI Sector
Standard(s)No specific sector standard applied

GRI Standard

GRI Standard

Disclosures
2-8 Workers who are not employees

Location (Reasons for Omission)[The disclosure method for disclosure item 2-8 and for
temporary employees in disclosure item 2-7 is underconsideration.]

3. Governance

Disclosures

2-9 Governance structure andcomposition

Location (Reasons for Omission)

General Disclosures

Basics: 5 Organizational Structure for Promoting Sustainability
Details: 7.2 Corporate Governance > 7.2.2 Corporate Governance
SystemDetails: 7.2 Corporate Governance > 7.2.3 Internal Control

1. The organization and its reporting practices
Corporate Governance > Corporate Governance Report

2-1 Organizational details

About Us (Company Information) > Corporate Information

2-10 Nomination and selection of thehighest governance body

Investor Relations > Stock Information > Stock Information

2-2 Entities included in theorganization’s sustainability reporting

2-3 Reporting period, frequency andcontact pointGRI 2:
GeneralDisclosures
2021

About Us (Company Information) > Tokio Marine Group >List of Group Companies

Corporate Governance > Corporate Governance Report

About Us (Company Information) > Tokio Marine Group

Shareholders’ Meeting

Details: Editorial Policy > ◉ Scope of This Report
Details: Editorial Policy > Inquiry Information
Details: Editorial Policy > ◉ Reporting period

2-4 Restatements of information

Not applicable

2-5 External assurance

Details: Third-Party Assurance

2. Activities and workers
2-6 Activities, value chain and otherbusiness relationships

About Us (Company Information) > Tokio Marine Group >List of Group Companies

GRI 2:
GeneralDisclosures2021

2-11 Chair of the highest governancebody
2-12 Role of the highest governancebody in overseeing the managementof impacts
2-13 Delegation of responsibility for
managing impacts

2-14 Role of the highest governancebody in sustainability reporting

Investor Relations > Financial Data
Details: 3 Stakeholder Engagement

2-15 Conflicts of interest

Details: 7.8 Sustainability in the Value Chain
Details: Editorial Policy > ◉ Scope of This Report > • Principalchanges during the reporting period

2-7 Employees

Details: 7.2 Corporate Governance > 7.2.2 Corporate Governance
SystemDetails: 8 Sustainability Performance Data > ◉ Human Rights
and Labor > ■ Basic Data > [Number of employees (Tokio
Marine Holdings and major subsidiaries)]

Corporate Governance > Corporate Governance Report
Basics: 1 Top Message
Basics: 5 Organizational Structure for Promoting Sustainability
Basics: 4 CSUO Message
Basics: 5 Organizational Structure for Promoting Sustainability
Basics: 5 Organizational Structure for Promoting Sustainability[Important changes in the sustainability reporting method arereported and discussed at the Sustainability Committee andthen reported and discussed at the Management Committee
and Board of Directors for approval.]
CHAPTER II Rights of Shareholders and Securing Fairness of
the Tokio Marine Holdings Fundamental Corporate
Governance Policy
Corporate Governance > Corporate Governance Report2-16 Communication of criticalconcerns
2-17 Collective knowledge of thehighest governance body

Basics: 5 Organizational Structure for Promoting Sustainability
Details: 6.2 Respect for Human Rights > 6.2.2 Promotion
Structure
Corporate Governance > Corporate Governance Report

2023 Sustainability Report191BasicsGRI Standard

Environmental
Initiatives

Details

Disclosures

Location (Reasons for Omission)

SocialInitiatives

GRI Standard

2-18 Evaluation of the performance ofthe highest governance body

Details: 7.2 Corporate Governance > 7.2.2 Corporate
Governance System > Compensation for Directors, Audit &Supervisory Board Members and Executive Officers

2-19 Remuneration policies

Details: 7.2 Corporate Governance > 7.2.2 Corporate
Governance System > Compensation for Directors, Audit &Supervisory Board Members and Executive Officers

GRI 2:
GeneralDisclosures2021

2-20 Process to determine
remuneration

Details: 7.2 Corporate Governance > 7.2.2 Corporate
Governance System > Compensation for Directors, Audit &Supervisory Board Members and Executive Officers

Material Topics

2-21 Annual total compensation ratio

Details: 8 Sustainability Performance Data > ◉ Human Rights
and Labor > ■ The ratio between the total annualcompensation of the Chief Executive Officer and the mean
employee compensation

4. Strategy, policies and practices
2-22 Statement on sustainable
development strategy
2-23 Policy commitments

Basics: 1 Top Message

Addressing Environmental and Social Risks > Tokio Marine
Group Responsible Procurement Guidelines
Details: 7.3 Compliance > 7.3.2 Compliance-Related Initiatives(Compliance Manual, Compliance Training and Evaluation and
Improvement Activities)
Details: 6.2 Respect for Human Rights > 6.2.3 Raising
Awareness and Penetrating Respect for Human Rights
Details: 7.8 Sustainability in the Value Chain

2-24 Embedding policy commitments

Basics: 5 Organizational Structure for Promoting Sustainability
Details: 7.3 Compliance > 7.3.2 Compliance-Related Initiatives(Compliance Manual, Compliance Training and Evaluation and
Improvement Activities)
Details: 6.2 Respect for Human Rights

Details: 6.2 Respect for Human Rights > 6.2.5 Mechanisms forComplaint Handling and Remediation

2-26 Mechanisms for seeking advice
and raising concerns

Details: 7.3 Compliance > 7.3.3 Hotline System (Internal
Whistle Blower System)

2-27 Compliance with laws andregulations

Not applicable

2-28 Membership associations

4 Participation in Initiatives

3 Stakeholder Engagement

2-30 Collective bargaining
agreements

Details: 8 Sustainability Performance Data > ◉ Fair Personnel
System and Management > [Labor union participation rate
(Tokio Marine Holdings and domestic major subsidiaries)]

GRI 3:
Material Topics
2021

Basics: 6 Specifying Eight Material Issues (Materiality)
Basics: 7 Primary Initiatives for Eight Material Issues(Materiality)
Details: GRI Standards Content Index > ◉ Specifying Material
GRI Indicators (Topics)

3-2 List of material topics

Details: GRI Standards Content Index > ◉ Specifying Material
GRI Indicators (Topics)

Economic Performance
3-3 Management of material topics

GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues(Materiality)
Details: 7.2 Corporate Governance
Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives

GRI 201:
Economic
Performance2016

201-1 Direct economic value
generated and distributed
201-2 Financial implications and otherrisks and opportunities due to climatechangeDetails: Sustainability Performance Data > ◉ Local
Community and Social Contribution Activities
Details: 5.1 Creating Environmental Value > 5.1.5 Performance
Reporting: Environmental Accounting
Details: 5.2 Responding to Climate Change > 5.2.2 ClimateRelated Financial Disclosure Based on the TCFD
Recommendations

Indirect Economic Impacts
3-3 Management of material topics

Details: 7.8 Sustainability in the Value Chain

2-25 Processes to remediate negative
impacts

Location (Reasons for Omission)

2-29 Approach to stakeholder
engagement

3-1 Process to determine material
topicsTokio Marine Group Basic Policy on Human Rights

GRI 2:
GeneralDisclosures
2021

Disclosures

Sustainability
Performance Data

5. Stakeholder engagement

Tokio Marine Group Sustainability/Wellness Charter
Tokio Marine Group Compliance Code of Conduct

GovernanceInitiatives

GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)
Details: 5.5 Protecting the Global Environment > 5.5.2 Protecting
the Global Environment through Products and Services
Details: 5.6 Research on Climate Change and Natural Disaster
Risks
Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities > ◉ Medical and Nursing Care

2023 Sustainability Report192

BasicsGRI Standard

GRI 203: Indirect
Economic Impacts
2016

Environmental
Initiatives

Details

Disclosures203-1 Infrastructure investments andservices supported

Location (Reasons for Omission)

SocialInitiatives

GRI Standard

Details: 6.6 Contributing to the Creation of a Safe and Secure Society> 6.6.7 Social Contribution and Awareness-Raising Activities >◉ Developing Youth and Promoting Sports > ■ Nurturing Future
Generations, Encouraging International Exchange and Promoting
Sports in Local Communities through Foundations
Details: 6.6 Contributing to the Creation of a Safe and Secure Society> 6.6.7 Social Contribution and Awareness-Raising Activities >◉ Medical and Nursing Care

203-2 Significant indirect economic
impacts

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.6 Responding to Poverty Issues

3-3 Management of material topics

Details: 7.2 Corporate Governance > 7.2.3 Internal Control

GovernanceInitiatives

Disclosures

Sustainability
Performance Data

Location (Reasons for Omission)

207-1 Approach to tax

Details: 7.3 Compliance > 7.3.7 Initiatives Concerning Appropriate
Tax Reporting > [Tokio Marine Group Global Tax Policy]207-2 Tax governance, control, andrisk management

Details: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)

GRI 207:
Tax 2019
Management
approachdisclosures

Details: 7.3 Compliance > 7.3.7 Initiatives Concerning Appropriate
Tax Reporting > [Tokio Marine Group Global Tax Policy]
Securities Report > Independent Auditor's Report and Internal
Control Report

Anti-corruption

GRI 3:
Material Topics
2021

207-3 Stakeholder engagement andmanagement of concerns related totax

Details: 7.3 Compliance > 7.3.7 Initiatives Concerning Appropriate
Tax Reporting > [Tokio Marine Group Global Tax Policy]

207-4 Country-by-country reporting

Details: 7.3 Compliance > 7.3.7 Initiatives Concerning Appropriate
Tax Reporting > Income Taxes by Country and Region (Fiscal 2021)

GRI 3:
Material Topics
2021

3-3 Management of material topics

Details: 5.1 Creating Environmental Value

Details: 7.2 Corporate Governance > 7.2.3 Internal Control

GRI 301:
Materials 2016

301-1 Materials used by weight orvolumeDetails: Sustainability Performance Data > ◉ Environment

Details: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)

EnergyDetails: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)
Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives

GRI 205:
Anti-corruption
2016

205-1 Operations assessed for risks
related to corruption

Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives [Details
regarding risk assessment are not disclosed.]Anti-competitive Behavior
3-3 Management of material topics

GRI 3:
Material Topics
2021

Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives

GRI 206:
Anti-competitive
Behavior 2016

206-1 Legal actions for anticompetitive behavior, anti-trust, andmonopoly practices

Not applicableTax
3-3 Management of material topics

GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)
Details: 7.2 Corporate Governance > 7.2.3 Internal Control
Details: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)
Details: 7.3 Compliance > 7.3.7 Initiatives Concerning Appropriate
Tax Reporting

GRI 207: Tax 2019
Topic-specificdisclosures
Materials

GRI 3:
Material Topics
2021

GRI 302:
Energy 2016

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
Details: 5.1 Creating Environmental Value

302-1 Energy consumption within theorganization

Details: Sustainability Performance Data > ◉ Environment

302-2 Energy consumption outside of
the organization

Details: Sustainability Performance Data > ◉ Environment

Water and EffluentsGRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
Details: 5.1 Creating Environmental Value

2023 Sustainability Report193Basics

Environmental
Initiatives

Details

GRI Standard

Disclosures

GRI 303: Water andEffluents 2018
Management
Approach
Disclosures

303-1 Interactions with water as ashared resource

Details: 5.1 Creating Environmental Value > 5.1.4 Structure for
Promoting Environmental Management

303-2 Management of water
discharge-related impacts

Details: 5.1 Creating Environmental Value > 5.1.4 Structure for
Promoting Environmental Management

303-3 Water withdrawal

Details: 8 Sustainability Performance Data > ◉ Environment(■ Environmental Load Data (Tokio Marine & Nichido))

GRI 303: Water andEffluents 2018
Topic-specific
Disclosures

Location (Reasons for Omission)

Biodiversity
GRI 3:
Material Topics
2021
GRI 304:
Biodiversity 2016

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
Details: 5.1 Creating Environmental Value

304-3 Habitats protected or restored

Details: 5.5 Protecting the Global Environment > 5.5.2 Protecting
the Global Environment through Products and Services >◉ Green Gift Project (Activities to Protect Forests): Mangrove
Planting > ■ Benefits of Mangrove Planting for the Environmentand Local Life

Emissions
GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
Details: 5.1 Creating Environmental Value

GRI305:Emissions 2016305-3 Other indirect (Scope 3) GHG
emissionsGRI Standard
GRI 306: Waste
2020 Topic-specificdisclosures

GovernanceInitiatives

Disclosures306-3 Waste generated

Details: 8 Sustainability Performance Data > ◉ Environment >■ Environmental Load Data (Tokio Marine & Nichido)

GRI 3:
Material Topics
2021

3-3 Management of material topics

Details: 5.1 Creating Environmental ValueGRI 307:
Environmental
Compliance 2016

307-1 Non-compliance withenvironmental laws and regulations

Not applicable

Supplier Environmental Assessment
GRI 3:
Material Topics
2021

3-3 Management of material topics

Details: 5.1 Creating Environmental ValueGRI 307:
Environmental
Compliance 2016

307-1 Non-compliance withenvironmental laws and regulations

Not applicable

Details: 8 Sustainability Performance Data > ◉ Environment >■ CO2 Emissions from Energy Sources and CO2 Reduction and
Fixation (Tokio Marine Holdings and major subsidiaries) >■ CO2 Emissions from Energy Sources (Tokio Marine & Nichido)

3-3 Management of material topics

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

GRI 3:
Material Topics
2021

Details: 6.3 Promoting Diversity and Inclusion
Details: 6.4 Promoting the Development and Empowerment of
Human Resources

Waste

GRI 306: Waste
2020
Management
approachdisclosure

Location (Reasons for Omission)

Environmental Compliance

305-4 GHG emissions intensity

GRI 3: Material
Topics 2021

Sustainability
Performance Data

Employment305-1 Direct (Scope 1) GHG emissions
305-2 Energy indirect (Scope 2) GHG
emissionsSocialInitiatives

3-3 Management of material topics

Details: 5.1 Creating Environmental Value

306-1 Waste generation andsignificant waste-related impacts
306-2 Management of significant
waste-related impacts

Details: 5.1 Creating Environmental Value > 5.1.1 What Our
Environmental Management Aims for: Corporate Philosophy and
Policy > ■ Reduction of Environmental Footprint in Our Value
Chain
Details: 5.2 Responding to Climate Change > 5.2.3 Initiatives for
Responding to Climate Change > ◉ Reduction of Environmental
Footprint in Business Activities > ■ Promoting Waste Recycling

Method of Calculation and Scope in Data Collection for Key
Sustainability Indicators

GRI 401:
Employment 2016

401-1 New employee hires andemployee turnover

Details: 8 Sustainability Performance Data > ◉ Human Rights andLabor

401-3 Parental leave

Details: 8 Sustainability Performance Data > ◉ Reform of Working
Styles [Discloses the number of employees using work/lifebalance related systems at Group companies in Japan]

Occupational Health and Safety
GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards

2023 Sustainability Report194Basics

Details

GRI Standard

GRI 403:
Occupational
Health and Safety
2018Management
Approach
Disclosures

GRI 403:
Occupational Healthand Safety 2018
Topic-specific
Disclosures

Environmental
Initiatives

Disclosures

Location (Reasons for Omission)GRI Standard

403-1 Occupational health and safety
management system

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards > 6.5.1 Our
Stance on Promoting Health and Productivity Management >◉ Tokio Marine Group’s Health and Productivity Management
VisionGRI 405: Diversity
and Equal
Opportunity 2016403-2 Hazard identification, risk
assessment, and incident
investigation

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards > 6.5.1 Our
Stance on Promoting Health and Productivity Management >◉ Relationship between Tokio Marine Group’s Health andProductivity Management Vision and Health-Related Measures403-3 Occupational health services

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards > 6.5.1 Our
Stance on Promoting Health and Productivity Management >◉ Relationship between Tokio Marine Group’s Health andProductivity Management Vision and Health-Related Measures403-4 Worker participation,
consultation, and communication on
occupational health and safety

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards > 6.5.1 Our
Stance on Promoting Health and Productivity Management >◉ Promotion Structure403-5 Worker training on
occupational health and safety

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards >6.5.2 Health and Productivity Management / Occupational Healthand Safety Initiatives and External Evaluation

403-6 Promotion of worker health

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards > 6.5.2
Health and Productivity Management / Occupational Health and
Safety Initiatives and External Evaluation

403-7 Prevention and mitigation ofoccupational health and safety
impacts directly linked by business
relationships

Details: 6.5 Promoting Health and Productivity Management andImproving Occupational Safety and Health Standards >6.5.3 Efforts to Spread Health and Productivity Management
throughout Society > ◉ Supporting Customers’ Health andProductivity Management403-9 Work-related injuries

Details: 8 Sustainability Performance Data > ◉ HealthManagement and Occupational Health and Safety > [Industrial
accidents (Tokio Marine Holdings and domestic major
subsidiaries)]

Training and Education
GRI 3:
Material Topics
2021

3-3 Management of material topics

GRI 404: Training
and Education
2016404-2 Programs for upgrading
employee skills and transition
assistance programs

GovernanceInitiatives

Disclosures405-1 Diversity of governancebodies and employees

GRI 3:
Material Topics
2021

3-3 Management of material topics

Details: 6.3 Promoting Diversity and Inclusion

Details: 8 Sustainability Performance Data > ◉ Utilizing Diverse
Human Resources > [Number of directors and managers (Tokio
Marine Holdings and domestic major subsidiaries)]
Details: 8 Sustainability Performance Data > ◉ Human Rights andLabor > ■ Basic Data

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)
Details: 6.2 Respect for Human Rights

412-1 Operations that have been
subject to human rights reviews or
impact assessments

GRI412: Human
Rights Assessment
2016412-2 Employee training on humanrights policies or procedures

Details: 6.2 Respect for Human Rights > 6.2.4 Human Rights Due
Diligence
Details: 6.2 Respect for Human Rights > 6.2.3 Raising Awarenessand Penetrating Respect for Human Rights > ■ Respect for
Human Rights within the Group, ■ Process to Monitor the
Promotion of Human Rights Awareness (Tokio Marine & Nichido)
Details: 8 Sustainability Performance Data > ◉ Human Rights >[Human rights training participation rate (Tokio Marine Holdings
and domestic major subsidiaries)]
Details: 8 Sustainability Performance Data > ◉ Human Rights >[Human rights training hours (Tokio Marine & Nichido)]

Local Communities
3-3 Management of material topics

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)
Details: 5.5 Protecting the Global Environment > 5.5.2 Protecting
the Global Environment through Products and Services

GRI 3:
Material Topics
2021

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.3 Response to a Mobility Society
Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities > ◉ Medical and Nursing Care

Details: 6.4 Promoting the Development and Empowerment of
Human Resources

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

Location (Reasons for Omission)

3-3 Management of material topics

Details: 6.4 Promoting the Development and Empowerment of
Human Resources

Details: 8 Sustainability Performance Data > ◉ Development of
Human Resources > [Job request system (job posting system)(Domestic major subsidiaries)]

Sustainability
Performance Data

Human Rights Assessment

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

Diversity and Equal Opportunity
GRI 3:
Material Topics
2021

SocialInitiatives

GRI 413: Local
Communities 2016413-1 Operations with local
community engagement, impact
assessments, and development
programs

Details: 5.5 Protecting the Global Environment > 5.5.2 Protecting
the Global Environment through Products and Services >◉ Green Gift Project (Activities to Protect Forests): Mangrove
Planting > ■ Benefits of Mangrove Planting for the Environmentand Local Life
Details: 5.6 Research on Climate Change and Natural Disaster Risks
Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities > ◉ Medical and Nursing Care

2023 Sustainability Report195Basics

Environmental
Initiatives

Details

GRI Standard

Disclosures

Location (Reasons for Omission)

Supplier Social Assessment
GRI 3:
Material Topics
2021
GRI 414: SupplierSocial Assessment
2016

3-3 Management of material topics

414-1 New suppliers that werescreened using social criteria

SocialInitiatives

GRI Standard

GovernanceInitiatives

Disclosures

Details: 7.8 Sustainability in the Value Chain > 7.8.2 Policies for
Outsourcing Management

Details: 7.8 Sustainability in the Value Chain > 7.8.2 Policies for
Outsourcing Management [Tokio Marine & Nichido selects newcontractors according to the Standard for Selecting Outsourcing
Contractors and the Information Security Management System
Standard.]

GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
Details: 5.3 Promoting Green Transformation > 5.3.2 Providing
Solutions for Promoting the Widespread Use of Clean Energy

Sustainable Investment*
3-3 Management of material topics

GRI 3:
Material Topics
2021

3-3 Management of material topics

Details: 7.6 Information Security
Details: 7.7 Cybersecurity

GRI 418: Customer
Privacy 2016418-1 Substantiated complaints
concerning breaches of customer
privacy and losses of customer data

Details: 7.6 Information Security > 7.6.2 Initiatives for Information
Security > • Response to Information Leakage and Other Incidents

Details: 7.1 Response to Environmental and Social Risks

GRI 3:
Material Topics
2021

Details: 7.8 Sustainability in the Value Chain > 7.8.5 Study andResearch on Sustainable Investments and Financing, 7.8.6 Policies
and Operational System for Sustainable Investments andFinancing, 7.8.7 Efforts for Sustainable Investments, 7.8.8 Exerciseof Voting Rights and Disclosure of the Results of Exercise of Voting
Rights

Details: 6.2 Respect for Human Rights > 6.2.3 Raising Awarenessand Penetrating Respect for Human Rights > ■ Hotline Systems(Whistle Blower Systems)
Details: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)

3-3 Management of material topics

GRI 3:
Material Topics
2021

419-1 Non-compliance with laws andregulations in the social andeconomic area

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.3 Response to a Mobility SocietyComprehensive Insurance Service Encompassing Treatment, Finance, Longevity and Health*Not applicable

Promoting ESG Initiatives through the Provision of Products and Services*
Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

GRI 3:
Material Topics
2021

3-3 Management of material topics

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

Details: 5.4 Responding to Natural Disasters

Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives

GRI 419:
Socioeconomic
Compliance 2016

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

Disasters and Traffic Safety*

Socioeconomic Compliance

GRI 3:
Material Topics
2021

Location (Reasons for Omission)Development of Clean Energy*

Customer Privacy

3-3 Management of material topics

Sustainability
Performance Data

Details: 7.8 Sustainability in the Value Chain > 7.8.3 Study andResearch on Promotion of ESG Initiatives through the Provision of
Products and Services, 7.8.4 Efforts to Promote ESG Initiatives
through the Provision of Products and Services

GRI 3:
Material Topics
2021

Basics: 7 Primary Initiatives for Eight Material Issues (Materiality)

3-3 Management of material topics
6.6 Contributing to the Creation of a Safe and Secure Society* Material issues identified by Tokio Marine Group that have no relevance to any of the items in the standards.
GRI 415 Public Policy. 415-1Political Contributions. Value of political contributions: In Fiscal 2023, Tokio Marine Group made political donations
amounting to 18.4 million yen. In Japan, it is mandatory for political organizations to release the status of income and spending of politicalfunds. Therefore, the above mentioned amount is to be disclosed in the Official Gazette and prefectural public notice. Tokio Marine Group
contributed 28 million yen to The General Insurance Association of Japan for its sustainability-related activities in FY2023. Tokio Marine Group
contributed US$22,175 to The United Nations Environment Programme Finance Initiative in FY2023.

2023 Sustainability Report196Basics

Environmental
Initiatives

Details

Recognition about ISO 26000

SocialInitiatives

ISO 26000 Core Issues
and Issues

In Tokio Marine Group, the departments handling each respective function are responsible forGovernanceInitiatives

Management Elements
Approach regarding impact

implementing initiatives for each sustainability issue. By referring to the core subjects addressed in

Policies/
Commitment

ISO 26000, specifically organizational governance, human rights, labor practices, the environment, fair
operating practices, consumer issues and community involvement and development, Tokio Marine Group
reviews the materiality of its sustainability issues and makes efforts to improve them. The management

Preventionof pollution/
Sustainable
resource use

systems for each issue are listed within each section of this report.

Due diligence/
Human rights
risk situations/
Avoidance ofcomplicity/
Discriminationand vulnerable
groups

Details: 5.1 Creating Environmental Value
Tokio Marine Group Sustainability/Wellness Charter

Goals and targets

Details: 5.1 Creating Environmental Value > 5.1.1 What Our
Environmental Management Aims for: Corporate Philosophy
and Policy

Responsibilities andmanagement
resources

Details: 1 Progress of Eight Material Issues (Materiality)

Reference

Complaint handlingmechanism

Details: 5.1 Creating Environmental Value > 5.1.4 Structure for
Promoting Environmental Management

Approach regarding impact

Details: 6.2 Respect for Human Rights > 6.2.1 Basic Approach to
Human Rights

Specific steps

Details: 5.1 Creating Environmental Value > 5.1.4 Structure
for Promoting Environmental Management "Green Assist
environmental management system"

Policies/
Commitment
Goals and targets
Management Responsibilities andmanagement
methods
resources

Tokio Marine Group Sustainability/Wellness Charter

Details: 6.2 Respect for Human Rights
Details: 6.2 Respect for Human Rights > 6.2.2 Structure to
Promote Human Rights
Details: 6.2 Respect for Human Rights > 6.2.3 Raising Awarenessand Penetrating Respect for Human Rights > ■ Hotline Systems(Whistle Blower Systems)

Specific steps

Details: 6.2 Respect for Human Rights > 6.2.5 Mechanisms forComplaint Handling and Remediation

Employment
andPolicies/
employment
Commitment
relationships/
Goals and targets
Conditions of
Responsibilities andwork and social
management
protection/
resources
Social dialogue/
Health andManagement
safety at work/
methods
Complaint handlingmechanism
Humandevelopment
and training in
the workplace
Specific steps

Approach regarding impact

Details: 6.2 Respect for Human Rights > 6.2.1 Basic Approach to
and Policy on Human Rights

Complaint handlingmechanismApproach regarding impact

Labor practices

ReferenceManagement Elements

Details: 6.3 Promoting Diversity and Inclusion
Details: 6.4 Promoting the Development and Empowerment of
Human Resources
Details: 6.5 Promoting Health and Productivity Management
and Improving Occupational Safety and Health Standards

The environment

Human rights

ISO 26000 Core Issues
and Issues

Management
methods

Sustainability
Performance Data

Policies/
Commitment

Tokio Marine Group Sustainability/Wellness Charter

Goals and targets

Details: 1 Progress of Eight Material Issues (Materiality)

Responsibilities andClimate change
management
mitigation andresources
Management
adaptation
methods
Complaint handlingmechanism

Details: 6.3.2 D&I Promotion Structure
Details: 6.5.1 Our Stance on Promoting Health and Productivity
Management
Details: 6.2 Respect for Human Rights > 6.2.3 Raising Awarenessand Penetrating Respect for Human Rights > ■ Hotline Systems(Whistle Blower Systems)
Details: 6.4 Promoting the Development and Empowerment of
Human Resources > 6.4.3 Dialogue with Employees
Details: 6.3 Promoting Diversity and Inclusion
Details: 6.4 Promoting the Development and Empowerment of
Human Resources
Details: 6.5 Promoting Health and Productivity Management
and Improving Occupational Safety and Health Standards

Details: 5.1 Creating Environmental Value > 5.1.4 Structure for
Promoting Environmental Management
Details: 5.1 Creating Environmental Value > 5.1.4 Structure
for Promoting Environmental Management "Green Assist
environmental management system"
Details: 5.2 Responding to Climate Change

Specific steps

Details: 5.3 Promoting Green Transformation > 5.3.2 Providing
Solutions for Promoting the Widespread Use of Clean Energy

Approach regarding impact

Details: 5.5 Protecting the Global Environment >5.5.4 Preservation of Biodiversity and Wetlands > ◉ Tokio
Marine Group’s Vision for Preserving Biodiversity and Wetlands

Policies/
Commitment

Details: 5.5 Protecting the Global Environment >5.5.4 Preservation of Biodiversity and Wetlands > ◉ Tokio
Marine Group’s Vision for Preserving Biodiversity and Wetlands

Tokio Marine Group Sustainability/Wellness Charter
Details: 1 Progress of Eight Material Issues (Materiality)

Details: 5.2 Responding to Climate Change

Goals and targets
Biodiversity andResponsibilities andrestoration ofmanagement
natural habitats Management
resources
methods
Complaint handlingmechanism

Specific steps

Details: 1 Progress of Eight Material Issues (Materiality)
Details: 5.1 Creating Environmental Value > 5.1.4 Structure for
Promoting Environmental Management
Details: 5.1 Creating Environmental Value > 5.1.4 Structure
for Promoting Environmental Management "Green Assist
environmental management system"
Details: 5.1 Creating Environmental Value
Details: 5.5 Protecting the Global Environment >5.5.2 Protecting the Global Environment through Products andServices2023 Sustainability Report197

ISO 26000 Core Issues
and Issues

Management Elements
Approach regarding impact

Fair operating practices

Anticorruption/
Responsible
political
involvement/
Fair
competition/
Respect for
propertyrightsEnvironmental
Initiatives

Details

Policies/
Commitment
Goals and targets
Management
methods

Reference

Details: 7.3 Compliance > 7.3.3 Hotline System (Internal Whistle
Blower System)

Goals and targets
Responsibilities andmanagement
resources
Management
methods
Complaint handlingmechanism

Specific steps

Approach regarding impact
Policies/
Commitment
Consumer dataprotection
and privacy

Details: Progress of Eight Material Issues (Materiality)

Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives
Details: 7.8 Sustainability in the Value Chain
Tokio Marine Group Sustainability/Wellness Charter

Promotingsocialresponsibility
in the value
chainManagement Elements

Tokio Marine Group Compliance Code of Conduct

Complaint handlingmechanism

Policies/
Commitment

GovernanceInitiatives

Tokio Marine Group Sustainability/Wellness Charter

Details: 7.3 Compliance > 7.3.1 Compliance System

Approach regarding impact

ISO 26000 Core Issues
and Issues

Details: 7.3 Compliance > 7.3.4 Anti-Corruption Initiatives

Responsibilities
and management
resources

Specific steps

SocialInitiatives

Details: 7.8 Sustainability in the Value Chain > 7.8.1 Supply
Chain Management > Tokio Marine Group Principle ofTransaction

Specific steps
Approach regarding impact
Policies/
Commitment
Sustainableconsumption

Details: 7.8 Sustainability in the Value Chain

Goals and targets
Management Responsibilities andmanagement
methods
resources
Complaint handlingmechanism

Consumer issues

Basics

Details: Organizational Structure for Promoting Sustainability

Details: 6.7 Improving Quality from the Customer’s Perspective> 6.7.1 Basic Approach to Quality Improvement

Goals and targets

Details: 1 Progress of Eight Material Issues (Materiality)
Details: 6.7 Improving Quality from the Customer’s Perspective

Responsibilities andManagement
management
methods
resources

Details: 6.7 Improving Quality from the Customer’s Perspective> 6.7.2 Response to Customer Feedback (Business Conduct
Policy 1)
Details: 6.7 Improving Quality from the Customer’s Perspective> 7.5 Initiatives to Instill Customer-Oriented Business Conduct
Policies (Business Conduct Policy 4)

Complaint handlingmechanism

Details: 6.7 Improving Quality from the Customer’s Perspective >6.7.2 Response to Customer Feedback (Business Conduct Policy 1)

Specific steps

Details: 6.7 Improving Quality from the Customer’s Perspective

Community involvementand development

Consumer issues

Consumer
service,support, andcomplaint
and dispute
resolution/
Education andawareness

Policies/
Commitment

Community
involvement

Details: 7.7 Cybersecurity

Details: 7.6 Information Security > 7.6.1 Policies and Regulations
Related to Information Security Management > Tokio Marine
Group Privacy Policy
Details: 1 Progress of Eight Material Issues (Materiality)
Details: 7.6 Information Security
Details: 7.7 Cybersecurity
Details: 6.7 Improving Quality from the Customer’s Perspective >6.7.2 Response to Customer Feedback (Business Conduct Policy 1)
Details: 7.6 Information Security
Details: 7.7 Cybersecurity
Details: 7.8 Sustainability in the Value Chain > 7.8.4 Efforts toPromote ESG Initiatives through the Provision of Products andServices > ■ System for Sustainable Consumption
Tokio Marine Group Sustainability/Wellness Charter

Responsibilities andmanagement
resources

7.8 Sustainability in the Value Chain > 7.8.4 Efforts to Promote
ESG Initiatives through the Provision of Products and Services >■ System for Sustainable Consumption

Complaint handlingmechanism

Details: 6.7 Improving Quality from the Customer’s Perspective >6.7.2 Response to Customer Feedback (Business Conduct Policy 1)

Specific steps

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.6 Responding to Poverty Issues

Approach regarding impact

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities

Management
methods

Details: 7.8 Sustainability in the Value Chain
Details: 6.7 Improving Quality from the Customer’s Perspective

Details: 7.6 Information Security

Details: Progress of Eight Material Issues (Materiality)

Details: 6.7 Improving Quality from the Customer’s Perspective >6.7.2 Response to Customer Feedback (Business Conduct Policy 1)

Approach regarding impact

Reference

Goals and targets

Details: 6.2 Respect for Human Rights > 6.2.3 Raising
Awareness and Penetrating Respect for Human Rights >■ Hotline Systems (Whistle Blower Systems)
Details: 6.7 Improving Quality from the Customer’s Perspective >6.7.2 Response to Customer Feedback (Business Conduct Policy 1)

Sustainability
Performance Data

Policies/
Commitment

Tokio Marine Group Sustainability/Wellness Charter

Goals and targets

Details: 1 Progress of Initiatives for Eight Material Issues(Materiality)

Responsibilities andmanagement
resources

Basics: 5 Organizational Structure for Promoting Sustainability

Complaint handlingmechanism

Details: 3 Stakeholder Engagement

Management
methods

5.5 Protecting the Global Environment > 5.5.5 Participation in
Social Contribution and Awareness-Raising Activities for theProtection of the Global Environment

Specific steps

Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities > ◉ Developing Youth and Promoting Sports >■ Nurturing Future Generations, Encouraging International
Exchange and Promoting Sports in Local Communities throughFoundations
Details: 6.6 Contributing to the Creation of a Safe and Secure
Society > 6.6.7 Social Contribution and Awareness-Raising
Activities > Social and Economic Inclusion of All People

2023 Sustainability Report198

Overview of Group Sustainability Reporting
We introduce the Tokio Marine Group Overview of Group Sustainability Reporting and sustainability communication tools.

About the Group’s Sustainability Report
Tokio Marine Group began publishing the Environmental Report in 2000. Along with the creation

Tokio Marine Group’s Principal Sustainability
Communication Toolsof Tokio Marine & Nichido Fire Insurance through the merger of Tokio Marine and Nichido Fire in
October 2004, from 2005 Tokio Marine Group has been publishing the CSR Report, which summarizes

Tool

Content

Mainreaders

the Group’s sustainability activities. In 2012, we changed the name of this report to the Sustainability
Report and from the perspective of conserving paper resources and enhancing convenience, we
discontinued the printed version and began publishing web-based and PDF versions.
Sustainability

In 2015 we revamped our home page and created the Tokio Marine Holdings Corporate Website

ReportProvides details of Tokio Marine
Group’s approach to sustainability andrelated strategies using relevant data

Date ofpublication(scheduled)

PDF

Japanese:
September●

English:November●Japanese:
August●●English:September●●

Japanese:
June●

English:July●

Japanese:
June●

English:September●BookletAll readers(sustainability page) as part of efforts to communicate sustainability information in an easier-tounderstand manner and on a timely basis through multiple devices, including smartphones andtablet devices.
Tokio Marine Group is working to enhance communications with stakeholders toward a secure, safe
and sustainable future. For this reason, Tokio Marine Group believes that familiarizing numerous
stakeholders with its sustainability efforts and collaborating and cooperating with them is important.

Concisely describes how Groupfinancial information relates toIntegrated Annual sustainability and non-financial
information while presenting mediumReport
to long-term corporate initiatives
concerning value creation

Investors

Therefore, we regard the Sustainability Report as absolutely essential in undertaking the Group’sbusiness operations and are disclosing information through this report.
TCFD Report

Human Capital
ReportProvides a comprehensive report on
the Group’s climate change initiatives
based on the TCFD recommendations.

Presents the Group’s approach andinitiatives regarding human capitalmanagement.

All readers

All readers2023 Sustainability Report199

Editorial Policy
This report is intended to report on the principal sustainability activities of Tokio Marine Group in fiscal
2022 to all our stakeholders.

◉ Guidelines Referred to in Preparing this Report• Global Reporting Initiative (GRI) Sustainability Reporting Standards• ISO 26000 Guidance on Social Responsibility

The Tokio Marine Group Sustainability Report 2023 focuses mainly on the philosophy and direction of
Tokio Marine Group’s sustainability initiatives as well as our activities based on eight material issues andfour priority issues, and discloses detailed information.
We also publish Integrated Annual Report 2023 for investors.
Integrated Annual Report 2023

• United Nations Global Compact, “Guidelines for Communication on Progress (COPs)”◉ Scope of This Report• Reporting organizations
Fundamentally, this report covers Tokio Marine Holdings and its major domestic and overseas
Group companies*. Refer to the “Data collection scope” for the calculation of each indicator in
the Sustainability Performance Data.
* Tokio Marine & Nichido, Nisshin Fire, Tokio Marine & Nichido Life, Tokio Marine Asset Management, etc.
Representative companies are listed in the Securities Report.

• Reporting period
This report covers activities conducted primarily during fiscal 2022 (April 2022 - March 2023).
However, for the purpose of further clarification, on occasion, reference is made to activities
undertaken outside the reporting period.
• Principal changes during the reporting period
None◉ Month of Publication• Previous edition: November 2022
• Current edition: December 2023
• Next edition: November 2024 (scheduled)

For inquiries concerning the Sustainability Report, please contact:
Sustainability Division, Corporate Planning Department
Tokio Marine Holdings, Inc.
Tokiwabashi Tower 2-6-4
Otemachi, Chiyoda-ku, Tokyo 100-0004, Japan
Tel. +81-3-6704-4549
e-mail: CSR@tokiomarinehd.com

2023 Sustainability Report 200

東京都千代田区丸の内1-2-1東京海上日動ビル新館 〒100-0005
Tel.03-6212-3333（代表）

Tokiwabashi
2-6-4
Tokio MarineTower
NichidoBuilding Shinkan,
1-2-1, Marunouchi,
Chiyoda-ku,
Otemachi,Chiyoda-ku,
Tokyo 100-0004, JapanTokyo, 100-0005 JapanTel:+81-3-6704
-7700
+81-3
-6212-3333
東京都千代田区丸の内1-2-1 東京海上日動ビル新館 〒100-0005