We aim to be a global insurance group which is selected by customers for quality and grows sustainably.
Tokio Marine Group’s mid-to long-term vision is to be a global insurance group that is selected by customers for quality and achieves sustainable growth. We have been delivering our Mid-Term Business Plan, which is entitled "Innovation and Execution 2014" in order to achieve this vision. The plan focuses on improving profitability and improving capital efficiency to achieve adjusted earnings of 230 to 260 billion yen with adjusted ROE of 7% or above as quantitative targets for fiscal year 2014.
In fiscal year 2012, which was the first fiscal year of the Mid-Term Business Plan 2014, our business results improved, with adjusted earnings of 209.1 billion yen (-19.5 billion yen for fiscal year 2011) and adjusted ROE of 6.7%, despite challenging economic conditions and the impact from a number of natural disasters across the world.
These strong results were achieved due to the successful implementation of a number of initiatives designed to drive growth, as well as the concerted efforts of our Group companies in completing the tasks they had outlined in the Mid-Term Business Plan. Thus, we commenced our new three year planning cycle.
Through all of our business and CSR activities, we contribute towards the healthy development of the societies in which we operate. We do this by protecting our customers against a variety of risks, providing innovative solutions to address their evolving needs. This helps to ensure that the trust we have established with those who depend on us is upheld.
In recent years, a number of major natural disasters have taken place across the world including Hurricane Katrina in 2005, the devastating earthquake in eastern Japan and the Thai floods in 2011 and Hurricane Sandy in the US in 2012.
In each of these unprecedented, disastrous situations, Tokio Marine Group members have worked to enhance the trust and relationships with our customers by taking dynamic actions to meet their needs and, where necessary, changing some of the rules which we have followed for many years. We have also sought to provide innovative solutions to their problems in order to provide safety and security to our customers.
Insurance business has been called "a people's business" and I am proud to say that Tokio Marine has organizations that are filled with talented, enthusiastic and self-motivated people. These factors are the root of our competitiveness and are valuable assets that make our goal of sustainable growth possible.
My mission is to enhance the capabilities of the Group in its entirety by cooperating with our people across the organization to be a "Good Company" that is trusted by people in our society and generates strong business results sustainably.
Since its establishment in 1879 Tokio Marine has been leading the general insurance industry in Japan and we will devote our maximum efforts to grow further. I deeply appreciate your continued support and cooperation.