Tokio Marine & Nichido Fire Insurance has celebrated 50 years of trading in Australia.

Tokio Marine Holdings Chairman Shuzo Sumi, Japanese Ambassador Yoshitaka Akimoto, Sir Rod Eddington and Insurance Council of Australia CEO Rob Whelan were among 250 guests at the Art Gallery of NSW in Sydney.

Tokio Marine started operations in Australia in 1963, using QBE as a managing agent before becoming a self-sustained insurance provider in 1977.

Mr Sumi says the Australian insurance market promises long-term, stable growth and “shows significant potential for Tokio Marine”.