According to documents filed by the State Insurance Department, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. have announced their intention to discontinue offering home and personal insurance in the Golden State. Both entities are subsidiaries of Tokio Marine Holdings Inc., a Japanese company.

 

Together, the two companies provide coverage for 12,556 home insurance policies with premiums totaling $11.3 million. Additionally, Tokio Marine holds approximately 2,732 personal umbrella liability policies valued at around $400,000, as per the submitted documents. Affected policyholders will receive non-renewal notices starting from July 1st, with a proposed effective date for these records set for August 1st, 2025.

 

Neither of the companies disclosed the reason behind their withdrawal in the documents.

 

Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. join a growing list of insurance companies announcing plans to withdraw or limit their operations in the Golden State, making it increasingly challenging for residents to obtain coverage for their homes.

 

In March, State Farm General Insurance Company announced plans to not renew approximately 72,000 policies in California, affecting property insurance and commercial apartment policies.

 

Last year, the company also announced it would stop accepting new insurance applications for all commercial and personal property in California. Since then, companies such as Allstate, Farmers Insurance, and The Hartford Insurance have announced similar moves.