TOA Reinsurance Company, New Jersey (NJ): Headquarters, Address, Contacts, Coverage, Claims, Ratings, Reviews and Careers

Looking for a reinsurance company that offers quality products, exceptional service, and financial stability?

Toa Reinsurance Company of America (Toa Re America) should be at the top of your list.

As a subsidiary of The Toa Reinsurance Company, Ltd. of Tokyo, Japan (Toa Tokyo), one of the oldest and largest reinsurance companies globally, Toa Re America has been a trusted presence in the US market since 1982.

An image of the TOA Reinsurance Company logo
How does TOA re provide value to its clients and brokers? What are the types of reinsurance products and services it offers? Get the answers to these questions and more (PHOTO: TOA Reinsurance Company)

With a proven track record of delivering value to its clients and brokers, Toa Re America stands as a reliable choice for your reinsurance needs.

In this article, I will provide you with an overview of Toa Re America and its offerings.

By the end, you will gain a comprehensive understanding of Toa Re America’s capabilities and why it makes an excellent partner for your reinsurance requirements.

Toa Reinsurance Company Address and Contact Information

Toa Re America is a distinguished reinsurance company that focuses on property and casualty reinsurance.

It is dedicated to providing treaty and facultative reinsurance solutions to primary insurance companies in the United States and Canada.

Toa Re America extends its services by offering retrocessional reinsurance to other reinsurance companies.

This reputable company is headquartered in Morristown, New Jersey, and has additional branch offices in Chicago, Illinois, and San Francisco, California.

Information Details
Phone Number (973) 898-9100
Address 412 Mt. Kemble Avenue, Suite 300C, Morristown, NJ 07960
Email Address info@toare.com
Fax Number (973) 898-0171
Operating Hours Monday to Friday, 9:00 AM to 5:00 PM (Eastern Time)

 

Toa Reinsurance Company Products and Services

Toa Re America offers a comprehensive range of reinsurance services and products, designed to cater to the diverse needs of its clients and brokers.

The company specializes in property and casualty reinsurance, with a noteworthy focus on agricultural reinsurance.

Here are the key services and products provided by Toa Re America.

Property and Casualty Reinsurance

Toa Re America is well-versed in underwriting all categories of property and casualty reinsurance.

This encompasses personal, commercial, specialty, and professional lines of insurance.

They offer a versatile array of reinsurance contract types, including proportional and excess of loss reinsurance, quota share, surplus share, per risk, catastrophe, aggregate, and stop loss arrangements.

The risks covered span a broad spectrum, including fire, earthquake, windstorm, flood, terrorism, liability, workers’ compensation, auto, marine, aviation, and cyber.

Agricultural Reinsurance

Toa Re America provides agricultural reinsurance solutions to ceding companies worldwide.

This includes coverage for crop insurance, livestock insurance, aquaculture insurance, forestry insurance, and greenhouse insurance.

Similar to property and casualty reinsurance, they offer proportional and excess of loss reinsurance contracts, quota share, surplus share, per risk, catastrophe, aggregate, and stop loss arrangements.

Toa Re America offers technical assistance and product development support to its clients in the agricultural sector.

Retrocessional Reinsurance

Toa Re America extends retrocessional reinsurance services to other reinsurance companies seeking to mitigate their exposure or enhance their capacity.

They engage in both proportional and excess of loss reinsurance contracts for property and casualty lines.

The company also actively participates in industry pools and associations, contributing to the broader reinsurance landscape.

Toa Re America’s strength lies in its team of experienced and proficient underwriters who can customize reinsurance solutions to align with the unique requirements of each client and broker.

The company benefits from a strong alliance with its parent company, Toa Tokyo, and its sister company, Toa Re Europe, enabling them to tap into a wealth of expertise and resources.

Toa Reinsurance Company Financial Details

When it comes to financial stability and security, Toa Re America stands as a robust reinsurance company with a firm foundation.

Its financial profile is marked by a solid capital base, a conservative investment portfolio, and a well-diversified underwriting portfolio.

Here are the key financial details you should be aware of.

Premium Income

In 2020, Toa Re America reported a net premium written (NPW) of $1.2 billion, signifying a notable 5% increase from the previous year.

A significant portion of this NPW, accounting for 92% of the total, was generated from its property and casualty reinsurance business.

The remaining 8% was attributed to its agricultural reinsurance endeavors.

Loss Ratio

In the same year, Toa Re America disclosed a net loss ratio of 69.3%, showcasing an improvement from the 72.8% figure recorded in 2019.

The net loss ratio is an indicator of the relationship between net losses and loss adjustment expenses concerning net premiums earned, with a lower ratio signifying more favorable underwriting performance.

Combined Ratio

The net combined ratio for 2020 was 99.4%, demonstrating a positive trend compared to the 103.6% reported in 2019.

The net combined ratio is a representation of the sum of the net loss ratio and the net expense ratio, and a lower value signifies a more profitable reinsurance operation.

Net Income

Toa Re America revealed a remarkable turnaround in net income, reporting $11.6 million in 2020.

This was a significant increase from the net loss of $24.4 million experienced in 2019.

Net income reflects the disparity between total revenues and total expenses of the company.

Shareholders’ Equity

As of December 31, 2020, Toa Re America’s shareholders’ equity stood at $1.1 billion, marking a 3% increase from the previous year-end.

Shareholders’ equity mirrors the difference between the total assets and total liabilities of the company.

Ratings

Toa Re America has been evaluated and awarded an A (Excellent) rating by A.M. Best and an A rating by Standard & Poor’s.

These ratings underscore Toa Re America’s impressive capacity to fulfill its ongoing reinsurance commitments and its robust financial security characteristics.

These financial metrics reflect Toa Re America’s commitment to maintaining a secure and dependable financial position, making it a trustworthy reinsurance partner.

Toa Reinsurance Company Claims

At Toa Re America, a strong commitment to delivering swift and equitable claims service to their valued clients and brokers is paramount.

This dedication is backed by a team of highly experienced and qualified claims professionals who adeptly manage various types of claims.

Here are key details to acquaint yourself with regarding Toa Re America’s claims process:

Claim Process

Reporting a claim to Toa Re America is a straightforward process.

You can initiate the claim by getting in touch with your designated claims representative or simply sending an email to claims@toare.com.

For added convenience, Toa Re America offers an online claim reporting tool on their website.

When filing a claim, be sure to furnish pertinent information, such as your policy number, date, description of the loss, your contact details, and any necessary supporting documents.

Claim Status

To track the status of your claim, reach out to your assigned claims representative or send an email to claims@toare.com.

Alternatively, you can access the online claim status tool on their website.

To obtain your claim information, you will typically need to provide your claim number and policy number.

Required Documents for Claims

The documents required for claims may vary based on the type and nature of the loss.

Common documents that could be requested include a loss notice, proof of loss, a loss adjustment report, a police report, invoices, receipts, as well as any applicable photos and videos, among others.

Average Claim Approval Time

The average claim approval time can fluctuate based on the complexity and severity of the loss.

Toa Re America is dedicated to expeditiously processing and settling claims, with a typical timeframe of around 30 days from the reception of all requisite information and documentation.

Toa Reinsurance Company Careers

If you are looking to embark on a career in the reinsurance industry, Toa Re America stands out as an excellent choice.

Here, you can expect a challenging and fulfilling work environment, an enticing compensation and benefits package, and a supportive, collaborative culture that nurtures your professional growth.

Job Openings

Toa Re America perpetually seeks talented and motivated individuals who can contribute to its ongoing growth and success.

A wide array of job openings is available across various departments and locations, including underwriting, claims, finance, actuarial, IT, legal, compliance, human resources, and more.

To explore the latest job opportunities, you can visit their website or check their LinkedIn page.

Internship Opportunities

If you’re a student looking to gain valuable experience and exposure in the reinsurance industry, Toa Re America offers internship programs in areas such as underwriting, claims, finance, actuarial, IT, and more.

These internships provide a fantastic opportunity to kickstart your career. To apply for internship positions, visit their website or their LinkedIn page.

Employee Benefits

Toa Re America places a strong emphasis on employee well-being and offers a comprehensive benefits package.

Some of the benefits you can enjoy as an employee include health insurance, dental insurance, vision insurance, life insurance, disability insurance, a retirement plan, paid time off, tuition reimbursement, an employee assistance program, and a wellness program.

Company Culture

At Toa Re America, you will find a positive and inclusive company culture that fosters teamwork, innovation, diversity, integrity, respect, and excellence.

Employees are valued as the company’s most important asset, and their professional development and personal growth are actively encouraged.

The company also organizes various social events and activities to promote employee engagement and satisfaction.

If you’re looking to kickstart your career or take it to the next level in the reinsurance industry, Toa Re America provides the right platform for growth and personal development.

Frequently Asked Questions (FAQs)

If you have any questions about TOA re, you might find the answers in this FAQs section.

Who is the parent company of TOA re?

TOA Re is a subsidiary of The Toa Reinsurance Company, Limited (Toa Re), which is based in Tokyo, Japan.

The parent company, Toa Re, is one of the oldest and largest reinsurance companies globally, with a history dating back to 1940.

Toa Re has two additional subsidiaries: The Toa Reinsurance Company of America (TRA) and The Toa 21st Century Reinsurance Company, Ltd. (Switzerland).

Where is the TOA re headquarters?

The headquarters of TOA Re itself is in Tokyo, Japan, specifically located at 6-5, Kanda-Surugadai 3-chome, Chiyoda-ku, Tokyo 101-8703, Japan.

TOA Re also maintains branch offices in Singapore, Malaysia, and Hong Kong, along with representative offices in the U.S.A. and Taiwan.

The company’s subsidiaries, as you mentioned, have their own headquarters in Morristown, New Jersey, U.S.A., and Zurich, Switzerland.

What is the credit rating of TOA re?

In terms of its credit rating, TOA Re is rated A (Excellent) by A.M. Best and A by Standard & Poor’s.

These ratings underscore TOA Re’s excellent ability to meet its ongoing reinsurance obligations and reflect its strong financial security characteristics.

These assessments encompass various factors, including balance sheet strength, operating performance, business profile, and enterprise risk management.

Conclusion

I hope you found this article about TOA Reinsurance Company informative and helpful.

If you want to learn more about other reinsurance topics, you can check out my other articles on this blog.

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