- About us
-
News & articles
Back
News & articles
View our latest company news and thought leaderships here.
See all the news stories - Products
- Underwriting teams
View our latest company news and thought leaderships here.
See all the news storiesWe were founded in July 1974 by Stephen L. Way as Houston Casualty Company (HCC) in, as the name suggests, Houston, Texas. A landmark moment in our history was in 2015 with the acquisition of HCC Insurance Holdings, Inc. (HCC) by Tokio Marine Holdings, Inc. (TMHD), making us a member of the Tokio Marine Group of companies. As the biggest M&A deal that year involving a Japanese company, this significant milestone accelerated our growth and deepened our global network. As part of the Tokio Marine Group since 2015, Tokio Marine HCC operates through approximately 4,500 employees in 180 countries
Belgium is a core part of the European business landscape. The de facto capital of the EU, it’s a key hub for expanding Japanese business. However, for Japanese executives honoured with the responsibility to lead their company’s expansion, the 9,500-kilometre distance between Tokyo and Brussels can feel even further. It is more than the difference between sushi and moule frites, yakitori and carbonade flamande. How business is conducted in Belgium and the value placed on different elements can seem worlds apart.
As a company that made this leap in 1880, growing from our home in Tokyo to becoming one of the world’s largest insurers, we appreciate the challenges that come with taking strides across borders. And that, for some things, different is not always better.
The value of relationships
For those of us who have built our careers on long-standing, trusted relationships with partners, the shift to the more price-focused and fluid business relationships of Belgium and Europe can be disconcerting. At first glance, the effort taken to understand a business and to cultivate mutually beneficial partnerships may seem absent when compared to the norm in Japan. However, when it comes to insurance, cultivating business relationships, as well as understanding business and the local market is important worldover. So, when it comes to our activity, the approaches that have typically served Japanese business are preserved to a certain degree and adapted to compliment local ways of doing business.
As a gateway to the European market, Belgium offers vast potential for Japanese businesses, but the risk and regulatory landscape is different and complex and accessing expertise which understands this is critical. The Belgium risk landscape itself is multifaceted. From ESG regulatory action driven by SFDR, to the cyber protections demanded by GDPR, the web of European compliance requirements continues to grow. This has created a patchwork of rules, increasing risk for businesses, employees, and executives.
To enter and develop in European markets, businesses need an insurance partner with a depth of localised expertise, combined with the breadth of knowledge expanding across the continent. This is why, at TMHCC, we have a specialist Japanese unit dedicated to the business needs of our multinational Japanese clients. As a crucial link between Japan and the rest of the world, our team in Brussels are established experts in ensuring that your insurance programme is clear, robust and accessible wherever you are.
Maintaining principles across borders
Japanese businesses which have established or are exploring launching in Belgium are already successful. The challenges which have been overcome to reach this point will have been many. The business culture and approach which has underpinned this success can be maintained while embarking on a new chapter of European growth.
As a business, we are built on foundations of long-standing relationships, this has been a fundamental tenet of our success. Often looking beyond profits, we are forged on the principle that strong, long-term collaboration is the path to building a successful business.
It is this mentality that established strong relationships across the globe, and which has made us the insurance partner of choice for Japanese brands operating in international markets.
Our parent company, Tokio Marine is relied upon by businesses across the world to provide expert advice and exceptional service, we take this trusted approach and deliver it to global markets. For businesses that want to maintain the business approach that had made them successful, we are on hand.
Domestic approach, different markets
While local insurance providers are an essential backbone for domestic markets in Europe, international businesses that require a broader spectrum of assistance may feel that localised markets are limited in their ability to offer the full breadth of support.
At TMHCC, major business decisions are always taken in tandem with our Tokio Marine partners, and a close, joint approach with head office is maintained to ensure domestic business can work alongside their international counterparts through our network.
Belgium presents a unique opportunity for those expanding outside of Japan. Whether it be the base of operations of wider European expansion, the headquarters from which an already global business wishes to operate, or simply another region to focus on following work in the wider European market, it will remain a unique opportunity for ambitious Japanese businesses.
New markets present new challenges, and new risks. With the right partners, this can be taken in stride.
TMHCC has come a long way since our foundation 50 years ago, and we expect to look back with pride on our history once again 50 years from now; after another half-century of good relations with our valued clients and partners.
