Subject: Re: Barron’s on Tokio Marine
One thing to be mindful of with Tokio Marine is their exposure to Japan earthquake events, which can put 20%+ decline on Tokio Marine share price at the drop of a hat. From the March 2011 Tohoku earthquake and tsunami, Tokio Marine dropped over 20% and took about 2 years to recover. Possibly one of the main reasons to have BRK partnership could be to help offset the anomalous risk through reinsurance.

A Nankai trough earthquake would be a significant event that could cause 10 times the damage of the Tohoku earthquake.

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