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Stakeholder Engagement~Promoting Initiatives Together with Various Stakeholders

In implementing high-quality CSR management, we believe it is essential to develop a relationship of mutual trust through dialogue with customers and all other stakeholders. We are promoting a deeper understanding of Tokio Marine Group’s thinking, values and various types of initiatives through customer opinions (customer compliments, complaints and other opinions and suggestions) received by Group companies, engagement with shareholders and investors, communications with agents, communications with employees, communications with external Environmental, Social and Governance (ESG) rating agencies and Socially Responsible Investment (SRI) and CSR communication with external experts (CSR Dialogue) . We also provide shareholder and investor information and issue various types of news releases through the media and make our best efforts to provide appropriately timed and adequate information disclosure to all stakeholders.

Tokio Marine Group’s Stakeholders

Stakeholders Engagement Web Links
Policy Contents
Customers We continually provide customers and society with “safety and security.” We will continue to promptly and appropriately provide even higher quality products, services and processes that meet the expectations of our customers. Basic knowledge of insurance
Customer satisfaction levels
Shareholders and Investors To assure transparent and fair management, we work for timely and appropriate information disclosure, while implementing a variety of measures to realize fair and constructive dialogue with domestic and overseas shareholders and investors. Communication with shareholders and investors
Disclosure policy
Insurance Agents We emphasize mutual trust with our agents and combine our strengths to meet the needs of customers while cooperating to promote mutually sound growth and development. Cooperation with insurance agents
Business Partners We aim for healthy mutual growth and development with our business partners. Cooperation with business partners
Employees We respect each and every employee as individuals and recognize their dignity and value, and pay careful attention to ensure that they can fulfill their responsibilities to their families. We aim to be a professional group with very distinctive characteristics while cooperating to ensure all colleagues maximize their performance with integrity and compassion. Employee satisfaction levels
Local Communities and Societies As a good corporate citizen, we strive to be recognized by local communities and societies while contributing to the creation of a society where a diversity of people can live healthy lives and with a sense of security. We also make efforts to soundly protect the global environment for future generations. In addition, by partnering with NPOs, etc., we conduct mangrove planting projects and experience-based environmental protection activities mainly focusing on children. Awards
CSR Dialogue
Mangrove Planting Project
Experience-based environmental protection activities
Research Institutions To respond to disasters caused by climate change we will sophisticate our natural disaster risk assessment through industry-academia collaboration and will provide products and services for stable responses to disasters in the future. Climate change and natural disaster risk research
External Initiatives, Organizations, Governments To respond to global-scale issues such as climate change, poverty, human rights and resource and energy issues and help create a secure, safe and sustainable future, we will collaborate with governments and industry organizations and participate in initiatives that include the United Nations Global Compact and the United Nations Environment Programme Finance Initiative (UNEP FI), and undertake activities in cooperation with a variety of stakeholders toward resolving these issues. Participation in initiatives
Media Based on the Tokio Marine Group CSR Charter that states, “We intend to disclose information timely and appropriately and to promote dialogue with all our stakeholders to ensure effective corporate management,” we will cooperate with the media and carry out fair, timely and proper disclosure of company information to gain the trust and understanding of our stakeholders. News release
Tokio Marine Holdings corporate website (CSR page)

Fiscal 2017 CSR Dialogue

In the name of “CSR Dialogue,” Tokio Marine Group regularly invites outside experts to share the latest knowledge on CSR with management and to engage in dialogue (exchange views and engage in discussions) about Tokio Marine Group’s CSR initiatives. On December 20, 2017, we invited prominent figures from various fields and asked their opinions about the CSR initiatives of Tokio Marine Group in line with the latest social situation in the field of CSR. Several opinions offered by these experts are provided herein.

Participants (Affiliations and positions are as of the date of the convening of the dialogue.)

Kaoru Nemoto
United Nations Information Centre

Hajime Yasui
Fixed Income Division
Morgan Stanley MUFG Securities Co., Ltd.

Tsuyoshi Nagano
President and Group CEO
Tokio Marine Holdings, Inc.

Kenji Iwasaki
Executive Vice President
Tokio Marine Holdings, Inc.

Takayuki Yuasa
Managing Director
Tokio Marine Holdings, Inc.

Toshifumi Kitazawa
President & Chief Executive Officer
Tokio Marine & Nichido Fire Insurance Co., Ltd.

Hiroko Shibasaki
Managing Director
Tokio Marine & Nichido Fire Insurance Co., Ltd.

1. Contributing to the Attainment of SDGs through Business Activities

Principal opinions from experts
Nemoto: SDGs surely require the efforts of the private sector based on the idea of benefits for five sides that include sellers, buyers, society, our future and the earth. One of the main features of the SDGs is “No one left behind,” which values inclusiveness and diversity. One representative group that tends to get left behind is youth, who are the bearers of our future. The earth is something borrowed from our children. Therefore, I ask for everyone’s cooperation in promoting the SDGs to ensure the earth continues to be sustainably handed down as something beautiful to the next generation.
Tokio Marine Group’s response policies
Tokio Marine Group has set “Supporting People” as one core CSR theme and actively promotes education and awareness activities for children, who are responsible for our future. For example, Tokio Marine Group holds a variety of programs with the participation of all employees that include Disaster Prevention Lessons to prepare for the next major disaster and Green Lessons based on the theme of mangroves (both for elementary school children) as well as Group Work on Managing Risks and Opportunities (for junior high school and high school students), a career education program that provides an awareness of insurance through a management game. In the future as well, Tokio Marine Group will promote education and awareness activities for children.

2. Responding to the Protection Gap

Principal opinions from experts
Nemoto: Urbanization and slumification are progressing throughout the world. During the next 10 years, 95% of the world’s urbanization will occur in developing countries while the population of persons living under vulnerable circumstances will also increase. These persons are especially vulnerable to disasters. Natural disasters are increasing in scale due in part to the impact of climate change. Protecting these vulnerable persons is thus also one reason for companies to promote the SDGs.
Tokio Marine Group’s response policies
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 started offering auto, fire and other insurance in India. At the same time, Tokio Marine Group sought to resolve the lifestyle of uncertainty faced by farmers in India through insurance and is developing and providing weather insurance and microinsurance (low-cost insurance) as well as accident insurance as an incidental to fertilizer and grain and medical insurance with subsidies from the local state governments in India’s rural communities. In the future, Tokio Marine Group will continue contributing to the development of regional communities and solving poverty problems by providing products and services for socially vulnerable persons in India and other regions.

3. Principles-Based Regulatory Compliance and Sustainable Corporate Value Creation

Principal opinions from experts
Yasui: The dramatically accelerating speed of technological progress and innovation has made it increasingly difficult for regulatory and supervisory authorities to assume every situation and establish rules beforehand. Regulatory authorities thus have no choice but to just issue major policies such as corporate governance codes. Against this backdrop, respective corporate governance reforms are being undertaken, such as those implemented globally to “prevent a recurrence of the so-called Lehman Brothers shock,” as well as those in Japan to “raise earnings power.” All of these aim toward the direction of “sustainable corporate value creation.” In Tokio Marine Group as well, I look forward to seeing the establishment of principles-based management strategies and policies and the promotion of management that sustainably raises corporate value.
Tokio Marine Group’s response policies
Tokio Marine Group believes CSR is synonymous with the implementation of its Corporate Philosophy and strives to strengthen its management foundation throughout all its businesses. Regarding corporate governance, Tokio Marine Group has endorsed the Corporate Governance Code and aims to build a sustainable management structure based on the principles of the Code. For example, under the Corporate Governance Code, publicly listed companies should appoint at least two (or should appoint two or more) independent outside directors. However, the Company moved early to strengthen corporate governance functions such as by appointing three or more outside directors ever since the establishment of the current company in 2002. Going forward, Tokio Marine Group will work to raise corporate value in a sustainable manner.

4. ESG Investment Becomes Mainstream

Principal opinions from experts
Yasui: As expressed in “Guidance for Integrated Corporate Disclosure and Company-Investor Dialogues for Collaborative Value Creation” (Guidance for Collaborative Value Creation) announced by the Ministry of Economy, Trade and Industry (METI) in 2017, companies must demonstrate to investors that solving issues related to ESG through business activities is the source of corporate value creation. Rather than talking about only individual elements of ESG, companies are being asked to comprehensively identify these as elements of medium-to-long-term risks and opportunities and consider how these elements are being incorporated into corporate growth strategies, what type of influence these have on the sustainability of business models and how these are being addressed strategically.
Tokio Marine Group’s response policies
Tokio Marine Group regards ESG issues that are strongly connected to the insurance business, such as “climate change and natural disasters,” “demographic changes” and “technology innovation,” as CSR materiality. Tokio Marine Group is working to create a society resilient to natural disasters, promote health management and support the building of an ultra-smart society through all its businesses, from providing products and services to promoting donation and volunteer activities. In these areas as well, we will also comprehensively consider ESG issues as risk and opportunity elements and make efforts to solve social issues and raise corporate value. Moreover, through our Integrated Report and Sustainability Report, we will strive to further enhance communication with investors and other stakeholders regarding our initiatives aimed at solving ESG issues.

Responding to Opinions in the CSR Dialogue

Thank you for your valuable opinions. We will utilize these opinions in our future activities to accelerate our initiatives for resolving various issues facing society.

We aim to be a “Good Company” that supports customers and society in all times of need. Based on dialogue and collaboration with our stakeholders in all areas of our business, from products and services to respect for human rights and dignity, protection of the global environment, contribution to local communities and societies, governance and stakeholder engagement, all employees will work together to create a secure, safe and sustainable future with a focus on our three core CSR themes.

Kenji Iwasaki
Executive Vice President
Tokio Marine Holdings, Inc.

Opinions Received from Experts in the Past and Subsequent Responses

Date of dialogue Items Opinions Status of Group’s response
January 25, 2011 Global CSR initiatives Besides playing a role in Japan, as a representative of Asia, Tokio Marine Group should fulfil the role of an industry leader in CSR throughout the rest of the world as well. Tokio Marine & Nichido is actively participating in global initiatives, which include serving as a Board Member for UNEP FI-PSI (United Nations Environment Programme Finance Initiative Principles for Sustainable Insurance) for Asia.
Innovative initiatives I'd like to see the implementation of environment-conscious initiatives that go beyond mere reductions of CO2 emissions and paper consumption (e.g., the total use of FSC-certified paper, investments in renewable energy).
  • Tokio Marine & Nichido makes standard use of "environment-conscious paper" that includes FSC-certified paper.
  • Marketing of TM Nippon Solar Energy Fund by Tokio Marine Asset Management
November 24, 2011 Responses to climate change/global warming I'm looking forward to seeing Tokio Marine Group play its role in providing awareness education and information that utilizes knowledge and experience that is unique to an insurance company. Following our Green Lessons environmental awareness promotion program launched in fiscal 2005, from fiscal 2012 we have been actively developing Disaster Prevention Lessons as disaster-prevention education that is even closer to the main business of an insurance company.
Community and social contribution activities I'd like to see community and social contribution activities carried out with further cooperation with NGOs and NPOs in Japan. The Green Gift Project, an initiative started in fiscal 2009, initially supported mangrove planning activities overseas. In October 2013, we expanded the scope of this initiative to environmental protection activities in Japan as well and we hold events in collaboration with NGOs and other bodies in various regions throughout the country.
December 6, 2012 Community and social contribution activities I hope to see support that enables employees (individuals) to independently participate in community and social contribution activities that transcend the bounds of business. We continually think of creative ways for enabling employees to independently participate in community and social contribution activities through initiatives such as the following.
  • Creation of “List of Recommended Initiatives” that compiles tips for planning community and social contribution activities at each workplace
  • Participation in initiatives undertaken by the NGOs and NPOs that we support
  • Plan volunteer tours to support disaster regions and hold in-house solicitations of tour participants
December 16, 2013 Community and social contribution activities Solving social issues is requiring even more expertise. I’d like to see activities carried out with an awareness of collaborating with local governments, universities, specialist institutions, NPOs and residents. Also, I’d like to see the development of the next-generation of people who will work to protect the environment in regional communities. We are carrying out industry-academia collaborative risk research with universities and strengthening collaboration with local governments and NPOs in domestic environmental protection activities while working to solve various social issues.
We are undertaking environmental awareness and education activities through the implementation of Green Lessons for elementary school children and carrying out environmental protection activities in the Green Gift Project.
CSR management I suggest setting “development of people” as materiality and ascertain needs in each region while promoting financial and environmental education and advancing these with initiatives used in your main business. We set “Supporting People” as one core CSR theme in the new mid-term business plan (FY 2015–2017) and are implementing CSR. From fiscal 2012 we have been holding Disaster Prevention Lessons to raise the disaster prevention awareness of elementary school children. We will reflect regional characteristics and the outcomes of industry-academia collaborative risk research to the present into this program while also focusing on further improving this program. We have also started the development of a financial education program based on the theme of insurance as our main business.
January 30, 2015 Taking on the challenge of meeting global social issues I’m hoping to see Tokio Marine Group utilize its knowledge and experience and actively participate in United Nations partnerships and international conferences for disaster prevention and mitigation as well as play an active role in the creation of an international framework as a Japanese company and an industry opinion leader. Tokio Marine Group participates in the United Nations Office for Disaster Risk Reduction (UNISDR) — Private Sector Alliance for Disaster Resilient Societies (ARISE) and the United Nations Environment Programme Finance Initiative (UNEP FI). At the Third United Nations World Conference on Disaster Risk Reduction held in Sendai in March 2015, we disseminated information about such industry-academia collaborative research results as a stochastic risk assessment method for earthquake-induced tsunamis as well as the Group’s disaster-related solutions and promoted discussions for deploying the roles fulfilled by the insurance industry toward solving disaster issues and reducing damage. A Group member is presently participating in the creation of a framework for global climate-related financial disclosures as a member of the Financial Stability Board’s (FSB’s) Task Force on Climate-related Financial Disclosures (TCFD).
Visualization of the social impact of CSR Amid expectations for strategic CSR by companies, it is essential to incorporate a perspective that looks at what types of impact Tokio Marine Group’s activities are having on social issues. I’d like to see this done, for example, through the “visualization” and disclosure of the impact of mangrove planting on local communities. We commissioned an external think tank to investigate the social impact of mangrove planting that we have carried out since 1999. Calculations show that as of the end of March 2014, mangrove planting has generated economic value of around 35 billion yen and brought positive effects to the mangrove forests and the approximately 1.25 million people living in the surrounding regions. We introduce the Mangrove Planting Project in our news releases as well as in a Special Feature article in the CSR Booklet 2016.
Take on the challenge of turning risks into “opportunities” I would like to see Tokio Marine Group, as a professional in risk management, turn future risks of the global community into “opportunities.” We will seize changes in risk accompanying the frequent occurrence of natural disasters and shifting demographics as business opportunities that lead to growth. We will also further advance our CSR initiatives that bring major changes to risk and will focus efforts on our three core CSR themes of “Providing Safety and Security,” “Protecting the Earth” and “Supporting People.” By doing so, we will contribute to the creation of a secure, safe and sustainable future.
CSR materiality and CSR approach
  • Isn’t “Information Security” also an important issue as a core CSR theme?
  • How about rearranging core CSR themes into five steps as a CSR approach?
  • We reflected these opinions in Tokio Marine Group’s CSR materiality (important issues) and core CSR themes set in accordance with the new mid-term business plan “To Be a Good Company 2017.” This included setting “Information Security” as an element of internal control within CSR materiality (important issues).
  • We established a “CSR approach” that rearranged core CSR themes into five steps to ensure that the actions of each employee lead to value generation in the future.
February 17, 2016 CSR initiatives through our main business I’d like to see Tokio Marine, as a trailblazing company in CSR, express the direction it intends to advance its CSR activities that are connected to the 2030 global SDGs. In our Sustainability Report 2016, we established the item “Relationship between Group Initiatives and SDGs” and expressed the direction of efforts for CSR activities that are connected to the SDGs.
Disseminating information to society I felt that the communication and design were inadequate. I look forward to seeing Tokio Marine Group disseminate information with a greater awareness of the visualization and visibility of its CSR activities. We created and published “CSR Booklet 2016” keeping in mind communication and design. This booklet won the “Easy-to-Understand Award” in the UCDA Award 2016. Besides obtaining UCDA Easy-to-Understand certification, we disseminated information in “CSR Booklet 2017” by utilizing infographics.
Toward “To be a Good Company” Companies are public institutions within society that contribute to society through their businesses. In doing so, three key factors enable companies to carry out vigorous business operations. The first is to contribute to all company stakeholders that include employees, customers, suppliers, local communities and the earth. The second is to continuously contribute to all stakeholders over the medium and long term rather than pursuing short-term results. The third is to take on challenges assuming maximum tolerable risk. The idea that “companies are public institutions within society that contribute to society through their businesses” corresponds with Tokio Marine Group’s thinking that “CSR is synonymous with the implementation of its Corporate Philosophy and that promoting efforts to solve societal issues will lead to the Group’s sustainable growth.” Tokio Marine Group will make unceasing efforts to be a “company indispensable throughout society” and that is chosen by customers by getting close to our customers and local communities and making efforts to support this challenge.
January 17, 2017 CSR Initiatives through Our Main Business~Providing Value to Stakeholders To sustain operations over the long term, companies should arrange and rebuild their own mission and initiatives from the perspectives of principal stakeholders to provide appropriate value and ensure the allocation of returns to each respective stakeholder. Tokio Marine Group believes CSR is synonymous with the implementation of its Corporate Philosophy and regards CSR as an issue for raising the trust of customers and local communities and for generating social value. In the future as well, we will focus on dialogue, collaboration and cooperation with stakeholders that include customers, business partners and members of the local community. We will also promote CSR activities with the participation of every employee through all our business activities, from the provision of products and services to donations and volunteer activities. Additionally, we will make efforts toward value creation together with our stakeholders.
Permeating CSR within the Group companies The most important point in permeating CSR within a company is the understanding and strong message from top management. The next task is to build a scheme that skillfully involves employees. Tokio Marine Group believes that CSR represents the implementation of its Corporate Philosophy and promotes CSR activities with the participation of every employee through all business activities. For example, with top management actively leading the way, Tokio Marine Group participates in initiatives for “learning about,” “watching” and “taking part in” sports for persons with disabilities and widely disseminates information about these initiatives and their value across society through its CSR Booklet.
ESG investment becomes mainstream I am hoping to see Tokio Marine Group make efforts to further enhance and promote ESG investment initiatives and ESG information disclosure. Three Tokio Marine Group companies, namely Tokio Marine Asset Management, Tokio Marine Capital and Tokio Marine & Nichido, are signatories to The Principles for Sustainable Insurance (PSI) of the UNEP FI and are working to promote ESG investment as asset managers and as asset owners and will step up these efforts in the future.

Engagement with Shareholders and Investors

Briefing for individual investors

To assure transparent and fair management, Tokio Marine Holdings works for timely and appropriate information disclosure, while implementing a variety of measures to realize fair and constructive dialogue with domestic and overseas shareholders and investors.

For institutional investors, besides holding conference calls on financial results, we also hold IR briefings led by top managers, beginning with the Group CEO, following the interim and fiscal year-end financial results, and at these briefings these managers explain management strategies and the progress of these strategies and hold dialogues. Additionally, we actively hold interviews with shareholders and investors in Japan and overseas and held a total of 537 interviews in the previous fiscal year. For individual investors, we hold an annual IR conference led by the Group CEO, while the IR officer and others actively convene briefings in various cities throughout Japan.

The valuable opinions that the Company receives from shareholders and investors through these activities and the General Meeting of Shareholders are regularly reported to the Board of Directors, shared broadly as feedback to management and all Group employees and are useful in improving management.

Tokio Marine Group actively disseminates IR information in Japanese and English on its website and posts a wide range of various types of information that assists in making investment decisions.

The Integrated Report 2017 won its first Award of Excellence at the Nikkei Awards based on high acclaim for features such as its storyline starting from the value creation model in addition to “the Company’s strengths based on its historical background,” an “enhanced top message” and “bundling of ESG content.”

Principal IR Activities

Briefings for analysts and institutional investors

Besides holding conference calls on financial results, we convened a briefing (November 2017) about the state of progress of our mid-term business plan, “To Be a Good Company 2017,” which was launched in fiscal 2015, and also held an IR briefing (May 2018) on the new mid-term business plan, “To Be a Good Company 2020,” which was launched in fiscal 2018. At the briefings, the management team, led by the Group CEO, provided explanations and engaged in question and answer sessions with attendees.

Briefings for individual investors Held a briefing for individual investors led by the Group CEO on the theme of “Tokio Marine Group’s corporate strategy.” Also held briefings in various cities in Japan by the IR officer, mainly at seminars sponsored by securities companies (a total of 14 times in FY2017).
Briefings for overseas investors Held individual meetings for overseas investors by the Group CEO and IR officer in the United States, Europe and Asia and explained the Group’s business results, business plan, business environment and other conditions.
Disseminating IR information through our website

Tokio Marine Group strives to disseminate accurate information in a fair manner through its website. In addition to timely disclosure of financial results and other information, Tokio Marine Group posts a wide range of various types of information in Japanese and English that helps with investment decisions. This includes annual securities reports, IR materials and preliminary reports regarding the monthly business results of principal subsidiaries.

Engagement with the Local Community

Tokio Marine Group promotes local community and social contribution activities in collaboration with NPOs committed to solving various issues in local communities. For the Mangrove Planting Project, one of the most notable initiatives undertaken by the Group, we have formed a long-term partnership with the NGO Action for Mangrove Reforestation (ACTMANG) specialized in mangrove planting, Organization for Industrial, Spiritual and Cultural Advancement-International (OISCA) and International Society for Mangrove Ecosystems (ISME). Besides planting mangroves, we also cooperate in improving environmental awareness and promoting industries in designated planting regions, such as providing environmental education and workshops for local residents and children. In Japan, we collaborate with Nippon NPO Center, eight Environmental Partnership Offices located nationwide and environment-related NPOs throughout the country and carry out the Green Gift Planet GENKI Program that encourages experience-based, environmental protection activities primarily targeting children.