MEDIA RELEASE

HONOLULU – First Insurance Company of Hawaii, Ltd. (FICOH) announced today the closing of its acquisition by Tokio Marine Holdings, Inc. FICOH, the oldest and largest property and casualty carrier domiciled in Hawaii, is now a member of the Tokio Marine Group.

One of the world’s largest and most prominent insurance companies, Tokio Marine has been a major owner of First Insurance dating back to 1989 and became a 50 percent owner in 1999. In August of this year, it announced it had reached an agreement to acquire the remaining 50 percent from the Continental Insurance Company, which is a wholly owned subsidiary of CNA. The transaction subsequently received regulatory approvals from the Hawaii Insurance Commissioner and Japan’s Financial Services Agency (FSA).

“In a 100-year history filled with milestones, this milestone is both significant and exciting,” said FICOH President and CEO Allen Uyeda, who retains his position. “Tokio Marine has supported us for many years and values our position in the Hawaii marketplace and community. We are grateful to be able to expand our relationship with Tokio Marine during our centennial year.”

“One of Tokio Marine’s defining characteristics is its forward-looking attitude. Its sights aren’t set on next year, but on three, five and 10 years down the road. This long-range view now extends to us as a wholly owned subsidiary,” continued Uyeda. “We look forward to working with them to continually improve our service and offerings for our customers and to grow FICOH in its second century of doing business in Hawaii.”

FICOH has also unveiled a refreshed logo to reflect its enhanced relationship with Tokio Marine and a more contemporary sensibility. It is the company’s first logo update since 1973. The new logo is modern and accessible, yet still recognizable in its faithfulness to the FICOH tree design and green color. “We took the natural next step of evolving our corporate identity to reflect our place as a 21st-century company and industry and community leader, while continuing to embrace the 100-year history that has brought us to this point,” Uyeda said.

Founded on August 11, 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $610.6 million, liabilities of $381.6 million and policyholders’ surplus of $229 million at September 30, 2011. First Insurance, a member of the Japan-based Tokio Marine Group, enjoys an “A” (Excellent) rating from A.M. Best Co., whose ratings are widely recognized as a benchmark of an insurer’s financial strength. For three years running, First Insurance has also been named to the Ward’s 50 list, which recognizes the nation’s top 50 property and casualty insurance companies. Proud of its broadly experienced, service-oriented staff, First Insurance employs more than 300 insurance professionals and distributes its products through 29 independent general agencies. It has claims personnel on Oahu, Kauai, Maui and the Big Island.

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