Tokio Marine subsidiary’s latest accounts show staff head count up 7%

International sanctions have unintended consequence for businesses

Tokio Marine Europe Ltd increased its turnover in 2011 to £14.5m, compared to £11.7m in 2010, according to latest accounts filed at Companies House.

Operating profit rose to £694,177 from £118, 622. That coincided with an improvement in operating margins to 5% from 1%.

The accounts said: “Turnover has increased 23.7% on 2010 as a direct result of an increase in administrative expenses of 23.3% on 2010. This is mainly due to the office move and the increased head count of 7% on 2010.”

The company is a subsidiary of Tokio Marine Insurance Europe Ltd.

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