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Mid-Term Management Plan

Medium-Term Management Plan TEAM TOA 2023

The Toa Re Group launched TEAM TOA 2023, its new medium-term management plan in April 2021, which covers three years from fiscal 2021. The TEAM TOA 2023 articulates our long-term vision and sets clear numerical targets and goals for enhancement of the management foundation for the Toa Re Group. We will implement various measures to achieve the vision and targets of this 3-year period starting in fiscal 2021.

Overview of TEAM TOA 2023

Group Targets over 3 Years from Fiscal 2021

Group Numerical Targets
  • Soundness: 
    Secure capital level consistent with a rating of “AAA” or higher
  • Profitability: 
    5% adjusted ROE (3-year average)
  • Growth: 
    2% annual increase for net premiums written (3-year average)
Targets for Enhancement of Management Foundation

Set IT, ERM, SDGs/ESG as priority areas and accordingly promote enhancement measures aligned with the group business strategy, medium- to long-term tasks, etc.

Long-term Vision Aim for most valuable group for every stakeholders
[Corporate Vision]

A reinsurance group that keeps being selected by clients across the world and that is developing together with them by providing optimal solutions

[10-year Vision]

A corporate group equipped with unwavering brand strengths both in Japan and overseas by providing optimal solutions across certain aspects of the insurance segment

  • Adjusted ROE(after-tax basis) (Net income + Provision for catastrophe loss reserves + Provision for contingency reserves + Provision for price fluctuation reserves - Other special factors) / (Net assets + Catastrophe loss reserves + Contingency reserves + Price fluctuation reserves)
  • IT Information Technology
  • ERM Enterprise Risk Management
  • SDGs Sustainable Development Goals
  • ESG Environment, Social, Governance

Long-term Vision

The Toa Re Group’s corporate vision is to become “a reinsurance group that keeps being selected by clients across the world and that is developing together with them by providing optimal solutions.” It is intended to further promote our business from a global perspective which will involve placing greater emphasis than ever on meeting clients’ reinsurance needs by adopting the clients’ viewpoint with the aim of achieving sustainable growth amid a rapidly changing business environment.
Moreover, the Group envisions itself a decade ahead serving as “a corporate group equipped with unwavering brand strengths both in Japan and overseas by providing optimal solutions across certain aspects of the insurance segment.” This will involve generally serving as a full-line reinsurance underwriter while particularly setting our sights on giving rise to business segment that enable us to leverage Group strengths.

Group Numerical Targets

The TEAM TOA 2023 places top priority on enhancing our capital level by ensuring stable profits and furthermore seeking growth. According to this policy, we have set numerical targets for the Group for three years in terms of soundness, profitability, and growth. We will draw up and implement business plans and specific measures for each business segment with the aim of achieving these numerical targets.

Targets for Enhancement of Management Foundation

We will continually strive to develop and harness strengths in the three priority areas of “IT,” “ERM,” and “SDGs / ESG,” which we have selected in light of the rapidly changing nature of society and the business environment. In order to thoroughly promote the initiatives, we will formulate and implement concrete action plans in each category based on the initiative policies described as below.

Priority Areas Initiative Policy
IT Transform business operations and generate new enterprise value by actively harnessing advanced technologies
ERM Achieve an effective ERM framework and comply with economic value-based solvency regulation
SDGs/ESG Perpetually enhancing corporate value by contributing to the creation of a sustainable society