Founded in 1911, First Insurance Company of Hawaii Ltd. (FICOH) is Hawaii’s oldest and largest property and casualty insurer.
“We have a tight bond with the people and businesses of Hawaii,” said FICOH’s President and CEO Mark Yoda.
“We work closely with our independent agency partners to pursue our mission. Together, we understand, and can respond to, the unique and emerging needs of our customers.”
FICOH is a proud member of the Tokio Marine Group, Japan’s first insurance company, established in 1879, and one of the world’s most respected insurance groups.
Since 1989, the Tokio Marine Group has gradually increased its shareholding in FICOH. In 2011, the year of FICOH’s centenary, the group acquired the remaining shares and FICOH became a wholly owned subsidiary.
“Financial strength is essential for any insurance firm to succeed in serving the needs of the community and we are very fortunate to have a financially stable parent company,” Yoda explained.
FICOH is backed by an A-plus (superior) rating from A.M. Best and an A (strong) rating from Standard & Poors, and had a policyholder surplus of $253.3 million as of Dec. 31, 2021.
In 1992, FICOH supported Hawaii by paying out close to $300 million for claims made by the many people affected by the devastation caused by Hurricane Iniki.
As a purpose-driven company, FICOH is guided by the long-held core values of respect, integrity, creating the future for the company and community and excellence, which naturally complement the vision of the Tokio Marine Group “to be a good company” that benefits customers, business partners and society.
“Our people are our most important asset and we empower them to deliver on our commitments and serve the community,” Yoda said.
“Our associates help Hawaii communities thrive through local leadership, volunteer service and charitable contributions.”
To mark its 111th anniversary this year, FICOH is making a $111,000 contribution to support environmental nonprofit organizations.
“Our vision of being a good company is a timeless endeavor,” Yoda noted.
“This year we want to focus our efforts on helping future generations tackle the important issues affecting Hawaii.”