Tokio Marine Holdings Inc. announced on Wednesday the launch of Tokio Marine GX, a specialist global insurance platform designed to support businesses undertaking green transformation efforts and decarbonization initiatives.
The new underwriting business, offering up to $500 million in capacity for a single risk, will deliver specialist insurance and risk advisory services for companies operating across renewable energy, conventional power, construction and industrial sectors.
TMGX will be housed within Tokio Marine HCC and leverage expertise across the Tokio Marine Group, including GCube and Tokio Marine & Nichido Fire.
“This is a unique insurance proposition,” said Brad Irick, managing executive officer and co-head of international at Tokio Marine. “TMGX clients will benefit from deep claims experience, holistic support and extensive risk appetite in every facet of renewable energy and the green transition.”
Leadership and Global Strategy
Fraser McLachlan, CEO of GCube, has been appointed chairman of TMGX. Ben Kinder, chief underwriting officer for marine, energy and renewables at TMHCC International, will serve as CUO of TMGX while continuing in his current role at TMHCC.
TMGX, short for “Green Transformation,” aligns with Japan’s national decarbonization strategy. The unit aims to position Tokio Marine as a leading underwriter in a rapidly evolving global insurance market that is adapting to the transition to sustainable energy and infrastructure.
Insurance for Green Transition
The venture is launching amid growing global investment in climate-related infrastructure and technologies. Tokio Marine cited a projected $9.2 trillion in average annual spending required on physical assets to achieve global decarbonization goals.
TMGX will offer tailored insurance products and advisory services, including credit, surety, and bespoke coverages for renewables, nuclear, and hydrogen projects—areas often underserved by traditional insurers.
“Together, we will unlock new commercial opportunities, while creating a greener, more resilient world for tomorrow,” said McLachlan.
Addressing a Market Gap
Tokio Marine said a shortage of cost-effective, globally available insurance has hindered progress toward net-zero targets. TMGX aims to close that gap by reducing risk volatility and offering long-term support to clients pursuing sustainable innovation.
The launch underscores Tokio Marine’s strategy to integrate ESG principles into its business model, while also tapping into what could become one of the largest capital reallocations in modern history.
Tokio Marine Group, with a market capitalization of approximately $74 billion as of March 2025, operates in 46 countries and employs over 43,000 people. Founded in 1879, the company combines global reach with a mission-driven approach to risk management and sustainable development.
