First Insurance Company of Hawaii, Ltd. · Honolulu, HI United States
Company Description
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This link will open in a new window They may be living in paradise, but even the island denizens of Hawaii need protection from life's rough waters. That's just what First Insurance Company of Hawaii aims to do by providing personal and commercial property/casualty coverage. The company is the leading property/casualty insurer in the island state and has been operating since 1911. Personal products include automobile, homeowners, and dwelling fire coverage, as well as home warranty and personal umbrella insurance. Commercial lines include commercial auto, general liability, property, surety, and workers' compensation insurance. The company is jointly owned by CNA Financial and Tokio Marine and Nichido Fire Insurance, a unit of Japan's Tokio Marine Holdings . To read the full description, subscribe now.
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Key First Insurance Company of Hawaii, Ltd. Financials
| Company Type | Joint Venture Single Location |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $156.3 |
| Employees | 310 |
First Insurance Company of Hawaii, Ltd. Executives
6 executives listed for First Insurance Company of Hawaii, Ltd.'s Honolulu, HI location.
| Title | Name & Bio | Contact |
| President and CEO | Allen Uyeda | Network |
| CIO | David DiSera | Network |
| VP Marketing | Steve Tabussi | Network |
Competition
Competitive Landscape for First Insurance Company of Hawaii, Ltd.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top First Insurance Company of Hawaii, Ltd. Competitors
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