Gradual recovery in the Japanese and US economies helped Tokio Marine Holdings increase profit by 37% to ¥116.18 billion ($1.23 billion) for the second quarter.

Underwriting income from general and life operations gained 19% to ¥946.35 billion ($9.99 billion), while underwriting expenses grew 10% to ¥830.49 billion ($8.77 billion).

Tokio Marine Holdings – the parent of Tokio Marine & Nichido Fire Insurance, Nisshin Fire & Marine, E.design Insurance and Tokio Marine & Nichido Life Insurance – says while European economies improved in the period, monetary easing cut interest rates further.