Commercial Finance Specialists

A major global insurer has announced plans to expand and make significant investments in the UK commercial property market.

Global insurance group Tokio Marine is looking to expand and take up property investment opportunities in the UK.

Having re-organised the commercial property arms of the international business, the firm now believes it is better positioned to maximise return on commercial development assets, the Post reports.

"This expansion of our international operations is firmly in line with our established strategy; we are working towards profitable international growth on all fronts," Shin-Ichiro Okada, senior managing director of Tokio Marine Holdings, told the publication.

The company will not be establishing a TMG business unit which will be headed by Philip Wray as it writes large commercial property business in London and New York.

London's property investment vehicle will be a division of Lloyd's Tokio Marine Kiln Syndicate 1880.

The commercial property investment market in London is being driven by foreign investment, according to Andrew Teacher, media manager at the British Property Federation.

Investors are being drawn in by favourable exchange rates and the promise of prize "trophy" assets, he explained.

Posted by Lisa Fear.