Global Insurer Tokio Marine Takes Equity Stake in eSentry Underwriting

Tokio Marine Management Australasia Pty. Ltd. is continuing to cement its position within the Australian insurance market, acquiring 50 per cent of specialist underwriting agency eSentry Underwriting.

David Boreham, Chief Underwriting and Distribution Officer in Australia for Tokio Marine and a Director of eSentry, said the acquisition is a major milestone for Tokio Marine in the local insurance market.

“This acquisition is part of Tokio Marine’s ongoing growth strategy in the region, and will underpin our sustained expansion in 2017 and beyond. We look forward to continuing to build our presence and reputation in Australia.”

Adrian Martin CEO, eSentry Underwriting, said eSentry has enjoyed a relationship with Tokio Marine as a security provider since the inception of the business.

“The confidence Tokio Marine has shown in eSentry by taking an equity stake will assist the company in expanding its range of specialist products and allow it to grow its market share in what is a highly competitive sector.”

Established in 2010, eSentry is an innovative online insurance underwriting agency. With a focus on construction, it offers a dynamic system that allows brokers to easily administer and transact insurance for the whole life cycle of policies up to $15M contract value, including quotations, policy placement, policy endorsements, extensions, renewals, adjustments and cancellations.

The eSentry construction policy provides market leading coverage through a combined material damage, general liability and professional indemnity policy, and supports both project specific and annual construction insurance requirements for SME construction companies.

eSentry also offers an online Mobile Plant and Equipment policy that features a similar life cycle product delivery journey for brokers purchasing plant and equipment insurance for their clients.

Tokio Marine & Nichido Fire Insurance Co., Ltd (TMNF) was founded in 1879 as The Tokio Marine Insurance Company, Ltd. and has been operating in Australia since 1963.

For more information on Tokio Marine, visit www.tokiomarine.com.au.

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Media Contact:
April Rose, History Will Be Kind, T: (02) 8046 4848 M: 0401 966 374 E: A.rose@historywillbekind.com.au

About Tokio Marine:

Tokio Marine & Nichido Fire Insurance Co., Ltd (TMNF) was founded in 1879 as The Tokio Marine Insurance Company, Ltd. and has been operating in Australia since 1963. TMNF is Japan's largest non-life insurance company and is placed in the top ranking of non-life insurance companies worldwide. The Company began its operations in the marine insurance field, where it has long been recognised as a world leader with a long history of financial stability and an excellent security rating. They are now present in over 39 countries around the world with more than 40,000 employees globally.